Monday, December 14, 2015

TECHNICAL ANALYSIS FOR SBIN AND CHART

FUTURE :
“BULLISH SBIN ABOVE 229 TGT  234/239”
“BEARISH SBIN BELOW 225 TGT 221/216”
DAILY CHAT FOR SBIN:
DAILY & WEEKLY SUPPORT AND RESISTANCE FOR SBIN:
SBIN levels generated based on 2015-12-14 data for the next trading day.
Daily
R4
R3
R2
R1
BULL
LOC
BEAR
S1
S2
S3
S4
Level
231
230
229
228
228
227
227
226
226
225
223
SBIN  Weekly levels generated for the week starting from 2015-12-14
Weekly
R4
R3
R2
R1
REV
BULL
LOC
BEAR
REV
S1
S2
S3
S4
Levels
250
246
240
236
232
231
229
228
227
222
219
215
213
MARKET SUMMARY FOR 14 DEC 2015

Sensex opened at 24,936, touched an intra-day high of 25,194 and low of 24,868. It finally ended with a gain of 106 points at 25,150.The Nifty opened at 7,558 hitting a high of 7,664 and low of 7,551 before ending with a gain of 40 points at 7,650. The annual rate of inflation, based on monthly WPI, stood at -1.99% (provisional) for the month of November, 2015 (over November, 2014) as compared to -3.81% (provisional) for the previous month and -0.17% during the corresponding month of the previous year.  Build up inflation rate in the financial year so far was 0.85% compared to a build up rate of 0.50% in the corresponding period of the previous year.After a weak start, the Indian equity market managed to wash away its Monday morning blues and closed with smart gains. Weakness in the US and Asian markets led to the Indian indices opening gap down. However, that turned out to be the low for the day as the benchmarks move higher as the day progressed erasing all its early losses. Indices turned highly volatile and witnessed a sharp fall in late afternoon trades only to witness a V-shaped recovery towards the fag yet again erasing the sharp decline and end almost near day’s high.
The metals, IT, consumer discretionary and basic material stocks were among the top gainers. Even the mid-cap and the small-cap stocks also ended with smart gains. On the other hand oil & gas and realty stocks were among the top losers. 

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