STOCK FUTURE TRADING TIP FOR 17 FEB

“BUY CEATLTD ABOVE 1135 TGT 1160/1185 SL 1100”

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 1135 as the stock is managing to sustain above the level of 1135. One may get the targets of 1160,1190 in the stock with the stop loss of 1100.

                       Primary trend of the stock is bullish and it may consolidating NEAR  the 1135  level.  as the stock is sustaining above its 200 days moving averages with 45 RSI. One may initiate the long position above the mentioned level .55&22 EMA act as resistance level at 1065,1185.

NIFTY settle the day higher;CLOSES ABOVE 8750

After a sharp fall on Wednesday, the Nifty has managed to bounce back today. Sensex is trading at 28302, up 146 points, while Nifty is trading at 8,777, up 52 points. The support at 8,730 has held very well. Also, there is a double-bottom bullish pattern on the intraday charts which increases the likelihood of the contract rising to 8,840 the upper end of the
range in the coming sessions. Support is at 8,765 which can now limit the downside. Resistance is at 8,800. A strong break this hurdle can take the index higher to 8,840.Traders can go long. Stop-loss can be placed at 8,755 for the target of 8,815.A breakout on either side of 8,730 or 8,840 will decide the next trend for the contract. Until then the contract may continue to oscillate between 8,730 and 8,840.

TOP GAINERS:   Sun Pharma, GAIL, Tata Motors and Eicher Motors

TOP LOSERS:   ICICI Bank, ITC, BPCL, Dr. Reddy’s and Bharti Infratel