“BUY LT ABOVE 1345 TGT 1360/1370”
FOR MORE CALLS FILL UP THE FORM GIVEN HERE>>>>>
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 1345 as the stock is managing to sustain above the
level of 1350. One may get the targets of 1370,1400 in the stock with the stop
loss of 1315.
Nifty below 7900; hit 7 month closing low
The Sensex ended
with a loss of 234 points at 25,807. The Sensex opened at 25,992 touched an
intra-day high of 26,009 and low of 25,753.The Nifty closed
with a loss of 77 points at 7,908. The Nifty opened at 7,965 hitting a high of
7,970 and low of 7,893.The Indian equity market declined amid weak Asian trading on a
day most major global markets are closed for a holiday. The stock market fell
in early trade amid buzz over government imposing taxes on long-term capital
gains from trading in shares.
Technically, Indian Stock Market is still in negative zone. Market would still see
sideways movement in a rangebound region due to lack of volumes on Christmas
holidays. We are approaching F&O Expiry and hence some volatility would be
seen in
market but would still remain rangebound. Traders should initiate fresh
long positions ONLY if Nifty closes above 8053 levels and BankNifty closes
above 18092 levels. Until then hold short positions. 7920 would still act as
strong support levels for Nifty. Closing below 7900 would be very negative for
Nifty as it would confirm a long Head and Shoulder pattern that would result in
a big downfall. The support for the
Nifty is 8050-8000-7920-7897-7800-7777 and the resistance to the up move
is at 8024-8053-8079-8100 levels.
TOP GAINERS: HUL, NTPC, HCL Tech, Dr Reddy's and ITC
TOP LOSERS: Hindalco, Cipla, Aurobindo Pharma, Bank Of Baroda and Bharti Infratel
No comments:
Post a Comment