Friday, December 16, 2016

WEEKLY TECHNICAL ANALYSIS OF UPL FOR 19-23 DEC 2016

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YESTERDAY'S IGL HIT  TGT 915 MADE HIGH OF 920.80
DAILY PROFIT: 45760 IN JUST TWO LOT
“BUY UPL ABOVE 668 TGT 675/700”
Primary trend of the stock is bullish and It is expected to continue the bull run with the crossing of the resistance level of 670, as the stock is sustaining above its 22&55 ,200 days moving averages with the RSI 50. One may initiate the long position above the mentioned level for the targets of 675/700 and with the strict stop loss of 650.
Nifty end in red after trading in narrow range
The Sensex ended with a loss of 30 points at 26489. The indices opened at 26548, touched an intra-day high of 26594 and low of 26455.The Nifty was down 14 points and closed at 8,139. It opened at 8,178 points, hitting a high of 8,178.and low of 8,127. Technically,A strong break below 8150 will increase the downside pressure and drag it to 8000. Traders can go short on a break below 8150 with a stop-loss at 8250 for the target of 8100/8000.On the other hand, a decisive break above 8220 will ease the downside pressure and take the index futures higher to 8300 and 8400 thereafter.
TOP GAINERS:  Tata Motors, Zee, Bosch, Infosys, Infratel, TCS, Eicher Motors, Maruti, 
TOP LOSERS:   Hindalco, Ultratech Cement, Bharti Airtel, ONGC, BHEL, Grasim, 



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