TIP FOR 24 FEB 2016
"BUY ABB ABOVE 1100 TGT 1120/1150 "
"SELL ABB BELOW 1090 TGT 1070/1050 "
DAILY CHART FOR ABB:
MARKET SUMMARY OF 15 FEB 2016
Finally Sensex ended with a loss of 379 points at
23,410. The Sensex opened at 23,850,
touched an intra-day high of 23,852 and low of 23,370.The Nifty closed with a loss of 125 points at
7,110. The Nifty opened at 7,240 hitting a high of 7,242 and low of
7,099. The two key important ranges--placed so close by, one between 7217 and
7226, and the other between 7174 and 718--would determine the probable course
of price movement during the trading session. If were to see the upper range
being taken out firmly, we can also expect even the canonized level of 7241
getting taken out as well while the lower range, if taken out decisively, would
see more weakness coming in,
we could well be bracing for a retest of 7162 -
7148 strong support area. If we were to see the Nifty taking out 7250-level as
well, on any intraday upmove, we could well see the index testing 7285 through
7321 strong supply zone. Our take is to sell any rally for we tend to think
this corrective rally has run its course; however, if it were to take out even
7350-mark then we would have to go for a rethink.
TOP GAINERS:
Asian Paints & ONGC is the only gainer
TOP LOSERS:
Bank of
Baroda, Cairn, Coal India, SBI, Yes Bank, PNB, UltraTech Cement and ICICI Bank
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