STOCK FUTURE TIP FOR WEEK 27 FEB-02 MAR

BUY KOTAKBANK AT 808 TGT 825/850 SL 785

READ MORE TO KNOW TECHNICAL BASIS :

Primary trend of the stock is bullish and after giving breakout of its range bound movement, it is forming continuation pattern in short term charts, it is likely to continue the positive movement with the breakout of the pattern at the levels of 808 ; as the stock is managing to trade above its 22 and 55&200 days moving averages with the RSI of 70, one may expect the targets of 825/850 in the stock if it manages to sustain above the immediate support level of 785.

Nifty fails to settle Feb F&O series above 52-week high

Nifty has managed to reverse higher after falling sharply from its intraday high of 8,982 on Thursday. The contract opened with a slight gap-up and has risen further. However, it is still not gaining momentum to extend its rally strongly above 8,950.Key intraday support is in the 8,940-8,930 zone which can be tested if the index futures  fails to sustain above 8,950.A break below 8,930 looks less likely. A reversal from
8,930 can take the contract lower to 8,900-8,850 once again. A strong break above 8,960 will pave way for the next target of 9,000 or even higher levels thereafter.Traders can wait for dips and go long near 8,935. Stop-loss can be placed at 8,910 for the target of 8,990.

                            Outlook for the contract will turn negative only if the nifty declines below 8,900 decisively. But such a strong break looks unlikely at the moment.