“BUY GLENMARK
ABOVE 890 TGT 895/900”
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Primary trend of
the stock is bullish and It is expected to continue the bull run with the
crossing of the resistance level of 890, as the stock is sustaining above its
200 days moving averages. One may initiate the long position above the
mentioned level for the targets of 895/900 and with the strict stop loss of 880.
Nifty shuts below
8,650 mark
Sensex ended with a loss of mere 71 points at 26,228. The Sensex opened at 26,305,
touched an intra-day high of 26,450 and low of 26,155.The Nifty closed
with a loss of 32 points at 8,080. The Nifty opened at 8,105 hitting a high of
8,151 and low of 8,060. The domestic market fell for the fourth straight
session as lenders pared most of their early gains to close lower along with
software exporters while select energy and auto stocks made a comeback ahead of US Federal Reserve Chair Janet Yellen's testimony to the US Congress today. Shares swung between gains and
losses during the day with Sensex rising as much as 150 points in early trade but it later pared gains and fell more than 100 points in
the intra-day trade. Nifty50 also breached its crucial 8,100 level during the
day. Technically, A strong break below 8050 will
increase the downside pressure and drag it to 8000/7950. Traders can go short on
a break below 8050.On the other hand, a decisive break above 8500 will ease the
downside pressure and take the index futures higher to 8600 and 8700.
TOP
GAINERS: Tata Motors, Hindalco, Tata Motors DVR, Power Grid, GAIL, BHEL
TOP LOSERS: Ambuja Cement, Bharti Airtel, Zee, TCS, ACC and Asian Paints
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