STOCK FUTURE TRADING TIP FOR 01 MARCH

BUY MINDTREE ABOVE 480 TGT 485/495 SL 460

READ MORE TO KNOW TECHNICAL BASIS :

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 480 as the stock is managing to sustain above the level of 480. One may get the targets of 485,500 in the stock with the stop loss of 460.

                                       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 480 ; as the stock is managing to trade above its 22 and 55days moving averages with the RSI of 55, 200 EMA seen as resistance at level at 527.

Nifty closes below 8900, Sensex down by nearly 70 points, 

Indian Stock Market to open positive. Now technically, Nifty would enter into negative zone once it closes below 8883 levels that would happen sooner or later. We may see some short covering rally but every positive rally would be an opportunity for traders to go short in the market. Since next 12 days are full of events hence market would hold itself from a sharp fall but overall, the direction would be negatively biased. Quarterly GDP numbers and Infrastructure Output would be disclosed today. GST council meet would be held on March 4 and 5. UP Election outcome would be on March 11, 2017 that would affect the Indian Stock Market direction.