Wednesday, May 25, 2016

TECHNICAL ANALYSIS OF BHARTIARTL FOR 26 MAY

FUTURE :
“BUY BHARTIARTL ABOVE 353 TGT 358/365”
 “SELL BHARTIARTL BELOW 347 TGT 341/335”
DAILY CHART FOR BHARTIARTL
The Nifty 50 futures contract has surged after opening with a huge gap-up. The downside pressure has eased Sensex ended with a gain of 576 points at 25,881. The  Sensex opened at 25,432 touched an intra-day high of 25,897 and low of 25,431.The Nifty closed with a gain of 186 points at 7,935. The  Nifty opened at 7,812 hitting a high of 7,938 and low of 7,809. If the Nifty is able to break above 7,900 - 8,000 levels on the back of string global and domestic triggers, the market rally will continue and can take the Nifty around 5% - 7% higher from here on. However, one still needs to remain cautious as all these events, including the progress of monsoon in JuneTechnically,
the markets are factoring in a favourable outcome for now and suggest that the markets are taking the possibility of a rate hike in June. A breakout on either side of this range will decide the next trend. Within the range the immediate outlook is positive. Traders with a short-term perspective can go long. Stop-loss can be kept at 7,840-20 for the target of 8000. looks likely in the coming sessions. Intraday supports are at 7,850 and 7,820. Besides, volatility will be seen tomorrow on expiry ,the bourses as traders will roll over positions in the futures & options segment from the near-month May series to June series.
TOP GAINERS: ICICI Bank, HDFC, Maruti Suzuki, SBI, Tata Motors, Axis Bank and TCS
TOP LOSERS: Cipla, Coal India, GSFC, Amara Raja Battery, Bajaj Finance ,Redington India 

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