TECHNICAL ANALYSIS OF BHARATFORG & DAILY CHART

THURSDAY  UPL ROCKSSSSSS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!  HIT FINAL TGT 454 MADE LOW OF 454
YESTERDAY ASIANPAINT ALMOST  HIT FIRST TGT 790 & MADE LOW OF 794.20

FUTURE :

“BULLISH BHARATFORG ABOVE 912 TGT  920/930”

“BEARISH BHARATFORG BELOW 906 TGT 900/890”

DAILY CHAT FOR BHARATFORG

DAILY & WEEKLY SUPPORT AND RESISTANCE FOR BHARATFORG AND UPCOMING RBI POLICY

BHARATFORG levels generated based on 2015-09-28 data for the next trading day.

Daily	R4	R3	R2	R1	BULL	LOC	BEAR	S1	S2	S3	S4
Level	953	936	925	919	912	905	897	891	884	874	857

BHARATFORG Weekly levels generated for the week starting from 2015-09-28

Weekly	R3	R2	R1	REV	BULL	LOC	BEAR	REV	S1	S2	S3
Level	969	946	932	914	909	905	900	895	877	863	849

SIMPLE MOVING AVERAGES

Days	BSE	NSE
30	1087.38	1088.43
50	1111.60	1112.38
150	1181.36	1181.63
200	1136.26	1136.48

MARKET SUMMARY FOR 28 SEPTEMBER 2015

Volatility continued as the September series expired, A weak open for Nifty future and it posted the low of 7797.15 in the opening session itself. In a late sell-off, equity benchmarks shed nearly one percent with the Nifty closing below 7800 on Monday  the first trading day of October series as investors turned cautious ahead of much awaited RBI policy. Sensex dropped 246 points or 0.95 percent to 25616 and the Nifty plunged 72 points or 0.93 percent to 7795.7875 is the immediate resistance which must be crossed decisively for the initial signal of strength. A failure to cross this region could push this index further down for gaining gumption to cross this important resistance. It must move above 7922 for any semblance of strength and sustain decisively above 8036-8045 on closing basis for fresh momentum. On the lower side, 7828-7810 is the immediate support zone and a breach of this region could lead to further downswing. 7787 and 7714 are important supports to fresh panic unwinding.

UPCOMING RBI POLICY

RBI policy eyed the RBI governor Raghuram Rajan to cut repo rate by 25 basis points, citing lower CPI inflation. However, there may be a slight possibility of no rate cut due to RBI's accommodative stance.  if the RBI were to deliver that, any resulting rally will be short lived.