Thursday, July 21, 2016

SENSEX SLIPS OVER 200 POINTS; NIFTY HOLDS 8,500

BUY YESBANK ABOVE 1160 TGT 1170/1185 SL 1145
Sensex ended with a loss of 205 points at 27,711. The Sensex opened at 27,981 touched an intra-day high of 27,989 and low of 27,687.54.The Nifty closed with a loss of 58 points at 8,510. The Nifty opened at 8,583 hitting a high of 8,585 and low of 8,504.45.The Indian stock market snapped two day winning streak on Thursday as momentum failed to sustain at higher levels. The Nifty is likely to remain rangebound between 8,400-8.600 till the GST Bill gets passed. Markets are witnessing profit taking at higher levels as there are no positive surprises from the first quarter earnings. Indian Stock Market was open flat. Technically, Indian Stock Market is still in positive zone. Analysis would still remain same. Market would continue to see positive rallies until Nifty holds 8478 levels. Once Nifty breaches levels of 8600-8635 levels, we would see a sharp breakout in the whole Indian Stock Market. Traders
should continue to hold long positions until Nifty closes below 8478 levels. Once Nifty closes below these levels, market would enter into negative trend and traders can close all long positions and initiate fresh short positions.
TOP GAINERS: ACC, UltraTech Cement, Ambuja Cement, IndusInd Bank, Asian Bank, Grasim
TOP LOSERS:  Axis Bank, Bank Of Baroda, PowerGrid, Kotak Mahindra Bank, SBI, BHEL,


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