“BUY ADANIPORTS
ABOVE 280 TGT 285/290”
“SELL ADANIPORTS
BELOW 275 TGT 270/265.”
Primary trend of the stock is bullish and It is expected to
continue the bull run with the crossing of the resistance level of 280, as the
stock is sustaining above its 200 and 50 days moving averages. One may initiate
the long position above the mentioned level for the targets of 290/300 and
with the strict stop loss of 270.Today, Sensex ended with a loss of 88 points
at 28,065. The Sensex opened at 28,190 touched an intra-day high of 28,199 and
low of 27,943. The Nifty closed with a loss of 30 points at 8,643. The Nifty
opened at 8,670 hitting a high of 8,682 and low of 8,600. The Sensex and
Nifty closed lower on Tuesday after WPI inflation hit 23-month high. Inflation
for the month of July soared to 3.55% versus
1.62% in June. Inflation based on
CPI accelerated to 6.07% in July 2016 from 5.77% in June 2016. The core CPI
inflation moved up to 4.52% in July 2016 from 4.39% in June 2016.
TOP GAINERS: Cipla, Adani Ports, Hindalco, BPCL, Ambuja Cement, Tata Steel,
Tata Power and SBI
TOP LOSERS: Bharti Infratel, Bosch, Sun Pharma,
HCL Tech, Tech Mahindra, Tata Motors and Grasim
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