“BUY ZEEL ABOVE 525 TGT 530/545”
“SELL ZEEL
BELOW 515 TGT 510/500”
ZEEL
, Trading idea is buy on Zee
Entertainment ; this stock is continuously holding the gains. Rollovers are
comparatively better, if I look at 4-5 series, it is continuously making higher
top higher bottom. Recently, it made bottom near to Rs 497-500 zone and
surpassed the previous hurdle of Rs 518 level. So, here I am expecting positive
move. The stock has support near to Rs 511 one can follow the same as a stop
loss level for the targets towards Rs 540,545. It is looks quite strong. The
stock has been holding the gains above Rs. 511 zone. the last couple of months
which also indicates that longs are rolling their positions. The stock has
potential to hit towards new high territory towards Rs 520-525 levels. So, one
can buy 510 Call keeping the stop loss of Rs 2 for target of Rs 12.The
crossing of the resistance level as the stock is sustaining above its 200 and
50 days moving averages with the RSI of 70. One may initiate the long position
above the mentioned level.
Nifty eNDS higher ahead Yellen's
speech, MARKET EYEING derivatives expiry
Markets swung between
gains & losses and finished the session on a marginally higher note
amid choppy session as investors turned cautious ahead of August F&O
expiry and signals on key policy rates from US Federal Reserve Chair Janet
Yellen at a meeting scheduled this week. Sensex ended
with a gain of 70 points at 28,060. The Sensex opened at 28,065 touched an
intra-day high of 28,108 and low of 27,960.The Nifty closed with a gain
of 18 points at 8,650.30 The Nifty opened at 8,648.50 hitting a high of 8,661
and low of 8,621.
RANGE BREAKOUT IN COMING WEEK
Both Sensex and Nifty continued to trade in a very
tight range but the broader market outperformed both these indices handsomely.
In fact, the Mid-Cap index broke out of the trading range and is progressing
upwards. The Nifty on the other hand has been in a small
trading range of 250
points (8728-8476) for more than six weeks now and as per the Principle of
Volatility, one can expect a breakout (bias remains positive) in this trading
range in the near future, possibly as early as next week.
TOP GAINERS: Cipla, Maruti Suzuki, Infosys, NTPC and Sun Pharma
TOP LOSERS: Lupin, Adani Ports, TCS, Tata Motors and Tata Steel
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