“BUY STAR ABOVE 1110 TGT 1125/1150”
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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 1110, as the stock is sustaining above its
200 &55 days moving averages. One may initiate the long position above the
mentioned level for the targets of 1125/1150 and with the strict stop loss of 1085.
Sensex trims gains to settle flat ahead of Q2 GDP data
The Sensex ended
with a gain of 44 points at 26394.01. The indices opened at 26408., touched an
intra-day high of 26587. and low of 26354..The Nifty closed 15 points
higher at 8142. points. It opened at 8,131. points, hitting a high of 8,197.
and low of 8,128. The Sensex closed
the day at 26,394, up 44 points, while the Nifty ended at 8,142, up 15 points.
The immediate target for the Nifty is seen at 8,020-8,050 on the lower
side and 8,250-8,182 on the higher side .
GDP data
Investors
believe country's economy probably picked up steam in the July-September
quarter on strong demand, but Prime Minister Narendra Modi's surprise demonetisation move this month will likely
dent growth in coming months. A Reuters poll today said country's GDP may have
expanded 7.5% in July-September quarter from the same period a year ago,
accelerating from a 15-month low of 7.1% in the April-June quarter. Fitch Ratings, meanwhile, lowered country's
GDP growth forecast for this fiscal year to 6.9% from 7.4%, there will be
"temporary disruptions" to economic activity post demonetisation.
TOP
GAINERS: Eicher Motors,
Idea Cellular, Bosch, Maruti, GAIL, M&M, Asian Paint
TOP LOSERS: Hindalco, Axis Bank, Sun Pharma, BPCL, ITC, TCS, Bank of Baroda
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