“SELL MARUTI BELOW 5400 TGT
5300/5200”
CANDLESTICK : BEARISH HANGING MAN
The
Hanging Man is a bearish reversal pattern. It signals a market top or a
resistance level. Since it is seen after an advance, it signals that selling
pressure is starting to increase. The long lower shadow indicates that the
sellers pushed prices lower during the session. Even though the bulls regained
their footing and drove prices higher by the finish, the appearance of this
selling pressure after a rally is a serious warning signal. If the body is
black, it shows that the close was not able to get back to the opening price
level, which has potentially more bearish implications.
Nifty settles below
8,900 mark ,Some Sharp Correction To Be Seen
Today,
the Sensex ended with a loss of 248
points at 28,797. The BSE Sensex opened at 29,063 and touched an intra-day high
of 29,062.90 and low of 28,755.The NSE Nifty closed with a loss of 86
points at 8,867. The NSE Nifty opened at 8,934 hitting a high of 8,939 and low
of 8,859. The
Indian equity market ended with losses on Friday. Weak global cues, profit
booking and a weak rupee dampened the sentiment. Indian Stock Market was
open neagtive. Technically, analysis would still remain same and Indian Stock
Market is still in positive zone. Trade has to be on the positive side. Every
dip in the market would be an opportunity for traders to go long. We may see
further consolidation before Nifty breaches 9000 mark. Nifty would surely
breach 9000 mark in day to come after some consolidation or correction but once
it does so, we would see lifetime highs of 9119 breaching immediately and
market would create new lifetime highs in that case.
TOP GAINERS: ONGC, GAIL, Wipro, TCS, RIL, HCL Tech, HDFC Bank
TOP LOSERS: Hindalco, Yes Bank, UltraTech Cement, Axis Bank
