TECHNICAL ANALYSIS OF ASIANPAINT FOR 17 JUNE

LAST DAILY RECOMMENDATION:

IN BEARISH MOMENTUM: RELCAPITAL HIT TGT 392 MADE LOW OF 389.25

LOT SIZE: 1100

DAILY TOTAL PROFIT: 14850 IN JUST TWO LOT

FOR MORE ROCKING CALLS OF FUTURE PLEASE FILL UP THE FORM GIVEN HERE >>>>>>>>>>>>>>>

FUTURE:

“BUY ASIANPAINT ABOVE 1010 TGT 1020/1030”

“SELL ASIANPAINT BELOW 995 TGT 985/970”

DAILY CHART FOR ASIANPAINT:

Sensex ended with a loss of 201 points at 26,525. The Sensex opened at 26,686 touched an intra-day high of 26,686.03 and low of 26,315.The Nifty closed with a loss of 66 points at 8,141. The Nifty opened at 8,181 hitting a high of 8,180.65 and low of 8,074. Indian Stock Market would open Negative. Technically, Indian Stock Market has entered into positive zone after a short correction which was predicted by EquityPandit couple of days back. Today, some more correction can be seen after the US FED Remarks but trade for now is to go long at dips. Now, 8300 is an important level for Nifty to look out for. It looks that the

required correction has been done and Market is ready to complete a bullish Inverse Head and Shoulder Pattern that may take Nifty to around 8350-8500 levels. Once Nifty breaches levels of 8300, it would see a sharp breakout. Traders should now go long at every dip in the market. Every correction would be an opportunity to go long in Nifty and BankNifty. BankNifty would see immediate resistance at 18000 levels on closing basis, breaching which, it would see a sharp breakout.

TOP GAINERS:  Hindalco, GAIL, Asian Paints, Eicher Motors, Tata Motors, HUL, Adani Ports and Wipro

TOP LOSERS: Bharti Infratel, Maruti Suzuki, UltraTech Cement, IndusInd Bank, Tech Mahindra, ICICI Bank