“BUY Biocon ABOVE 890 TGT 900/920”
“SELL Biocon
BELOW 870 TGT 855/845.”
Biocon is likely to continue the upside move in near
term with the crossing of the resistance level of 890, now the stock
is accumulating below the resistance mark of 900, further the stock is
sustaining below the downward sloping trend line and is likely to continue the
northward journey with the crossing of the resistance level as the stock is sustaining above its 200 and 50
days moving averages with the RSI of 60. One may initiate the long position above the mentioned level for the
targets of 890. Breakout of its resistance level may show recovery in it where
traders can expect targets of 920 and 935 while major support of 850 can be
placed as technical stop loss.
Hold Long Positions In BankNifty As Of Now
Today, Sensex ended with a loss of 91 points at 27,985. The Sensex opened at
28,088 touched an intra-day high of 28,143 and low of 27,918.The Nifty
closed with a loss of 38 points at 8,629. The Nifty opened at 8,667 hitting a
high of 8,685 and low of 8,614. Technically,
Market would see further positive
movement and Next target for BankNifty would be 19500-20000 levels. Traders
should hold long positions as of now. Now, traders should watch for Nifty resistance
of 8750 levels. Once Nifty breaches those levels, we would
see new highs in
days to come. Overall market is positive and traders should hold long positions
and add more on dips. Market near F&O expiry and we may see some
consolidation at this point of time. Indian Stock Market would open positive on Tuesday.
Indian Stock Market is in positive trend and analysis would remain same. Mr.
Urjit Patel has been appointed as new RBI Chief and this is positive news for
the market as all the policies would remain intact as he was Deputy Chief of
RBI and would work on the same policies.
TOP GAINERS: HUL, ZEE,
ITC, BHEL, Idea, HDFC, BPCL, Power Grid and Coal India
TOP LOSERS: Grasim,
Aurobindo Pharma, Ambuja Cements, Lupin, ACC, NTPC
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