WEEKLY TECHNICAL ANALYSIS OF UPL FOR 02-06 JAN 2017

“BUY UPL ABOVE 655 TGT 665/680 SL 640”

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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 655 as the stock is managing to sustain above the level of 650. as the stock is sustaining above its 22&55 days moving averages with the RSI 50. "605" level act as a strong support on 200 EMA. One may get the targets of 680,700 in the stock with the stop loss of 640.

Markets end 2016 higher ;Nifty jumps to 8,186

Technically, Traders can go long at every dip in the market . Near-term outlook is bullish for the contract. Traders with a short-term perspective can make use of intra-day declines to initiate fresh long positions while maintaining a stop-loss at 8,150 levels. The contract can continue its up move and test resistance at 8,200. Strong rally beyond this level can take the contract higher to 8,250 and 8,330 levels. On the other hand, only an emphatic fall below the key support level of 8,100 will bring back selling pressure and drag the contract down to 8,075 and then to 8,000 levels. Next key supports below 8,150 are at 8,100 and 8,000 levels. And the resistance to the up move is at 8200-8250-8290-8330 levels.

TOP GAINERS:  Aurobindo Pharma, Bosch, GAIL, Sun Pharma, ITC, Power Grid

TOP LOSERS:  BPCL, Bajaj Auto, ONGC, Tata Steel, Dr. Reddy's, Tata Motors ,HDFC Bank

TRADE IDEA ON YESBANK FUTURE FOR 30 DEC 2016

“BUY YESBANK ABOVE 1140 TGT 1165/1180 SL 1110”

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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 1140 as the stock is managing to sustain above the level of 1150. One may get the targets of 1165,1200 in the stock with the stop loss of 1110.

NIFTY SETTLES ABOVE 8,100, SENSEX GAINS 155 POINTS

The Sensex ended with a gain of 155 points at 26,366. The  Sensex opened at 26,429 touched an intra-day high of 26,430 and low of 26,168.The Nifty closed with a gain of 69 points at 8,104. The  Nifty opened at 8,031 hitting a high of 8,111 and low of 8,021. The Sensex and Nifty recovered from recent losses to close at their highest in more than one week on Thursday, after a volatile trading session ahead of the expiry of monthly derivative contracts.The Nifty started the December derivatives expiry session at 8,028 and recorded an intra-day low at 8,025 levels. Subsequently, witnessing buying interest, the contract entered the positive territory by breaching the immediate resistance at 8,031. The contract marked an intra-day high at 8,109.Conversely, the Nifty can bring back selling pressure on a strong slump below 8,025.                                                                          

           Technically,

NIFTY ENTERS POSITIVE TREND, GO LONG AT DIPS

"BUY ZEEL ABOVE 451 TGT 460/466 SL 438"

The Sensex ended with a mere loss of three points at 26,211. The Sensex opened at 26,243 touched an intra-day high of 26,415 and low of 26,192. The Nifty closed with a marginal gain of two points at 8,035. The Nifty opened at 8,048 hitting a high of 8,101 and low of 8,028.The Sensex, Nifty closed flat after paring all of their intraday gains in the last hour of trade dragged lower by a sell-off in oil and gas companies on Wednesday and ahead of the expiry of futures and options contracts of the December series due tomorrow. Weak global cues and a weak rupee dampened the sentiment. 

                                               Technically, Traders can go long at every dip in the market with strict stoploss at 7893 levels on closing basis. Traders should note that this positive rally is for very short term but for now traders can go long at every dip in the market until market again see reversal. On the other hand, if the nifty reverses lower from 8,120 a corrective fall to 8,160 or 8,150 is possible.  and downside be alert below 7990 and avoid all longs below that level as selling may intensify below that level. The support for the Nifty is 7993-7970-7897-7800 and the resistance to the up move is at 8053-8079-8105-8154 levels.

TOP GAINERS:  Bharti Infratel, Coal India, Idea Cellular, IndusInd Bank, Tech Mahindra

TOP LOSERS:  Tata Motors DVR, Yes Bank, Reliance Industries, Hero MotoCorp, Ambuja 

YESTERDAY’S RECOMMENDATION UPDATE:

YESTERDAY'S LT ALMOST HIT TGT 1360 MADE HIGH OF 1357.45
DAILY PROFIT: 12450 IN JUST TWO LOT
Nifty reclaims 8,000 mark; ENDS BELOW 8050

The  Sensex ended with a gain of 406 points at 26,213. The Sensex opened at 25,815 touched an intra-day high of 26,249 and low of 25,803.The Nifty closed with a gain of 125 points at 8,033. The Nifty opened at 7,915 hitting a high of 8,045 and low of 7,904. The Indian stocks market rallied on Tuesday on account of buying of some blue-chip counters, which were heavily over-sold in last few trading sessions and covering-up of pending short positions by speculators ahead of the December futures and options expiry on Thursday. Technically, The support for the Nifty is 7897-7800-7777-7645 and the resistance to the up move is at 8024-8053-8079-8100-8150 levels.

TOP GAINERS:  Bosch, ITC, Tata Steel, Aurobindo Pharma, Hindalco, Adani Ports,

TOP LOSERS:  GAIL, Grasim, Kotak Mahindra Bank and IndusInd Bank

TRADE IDEA ON LT FUTURE FOR 27 DEC 2016

“BUY LT ABOVE 1345 TGT 1360/1370”

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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