WEEKLY ANALYSIS OF LT FOR 03-07 OCT

“BUY LT ABOVE 1450 TGT 1475/1500”

“SELL LT BELOW 1420TGT 1395/1370”

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After showing correction from the higher level, now stock is trading in short term recovery phase, it is likely to continue the upside move in near term with the crossing of the resistance level of 1450 as the stock is managing to sustain above the level of 1450. One may get the targets of 1475,1500 in the stock with the stop loss of 1420. where one may initiate the short position in it only below 1420 for the targets of 1395/1370, while stop loss can be placed at 1452.

sensex ends flat,Nifty holds above 8,600
Sensex ended with a gain of 38 points at 27,866. It opened at 27,808, touched an intra-day high of 27,955, and hit a low of 27,716.The Nifty closed with a gain of 20 points at 8,611. It opened at 8,582, hitting a high of 8,637 and low of 8,555. After witnessing a sharp fall on Thursday due to geo-political concerns, markets rebounded and ended flat on the first day of October series despite weak global cues. On Thursday, markets ended at their lowest closing levels since August 26, 2016 as risk-aversion prevailed following September F&O expiry and concerns over foreign capital outflows amid geo-political tensions arising between India and Pakistan after the Indian Army conducted surgical strikes across LoC in Pakistan on Wednesday night.
TOP GAINERS:  Aurobindo Pharma, Bank of Baroda, Grasim, M&M, GAIL, ONGC
TOP LOSERS:  Cipla, Tech Mahindra, Coal India, ITC, Ambuja Cement, Bharti Infratel