Friday, 3 February 2017

WEEKLY LONG OR SHORT UPL FUTURE FOR 06-10 JAN 2017

“BUY UPL ABOVE 751 TGT 770/785 SL 730”
“SELL UPL BELOW 735 TGT 720/700 SL 750”
READ MORE TO KNOW TECHNICAL BASIS :
Primary trend of the stock is bullish and it may consolidating NEAR  the 740 higher level. It is expected to continue the bull run with the crossing of the resistance level of 751, as the stock is sustaining above its 200 and 50&22 days moving averages with 70 RSI. One may initiate the long position above the mentioned level for the targets of 770,800 and with the strict stop loss of 730.
Sensex ends marginally higher ahead of RBI policy meeting
Technically, Indian Stock Market is still in positive zone and traders should go long at every dip in the market. Some profit booking can’t be ruled out but every downfall would be temporary and an opportunity for traders to go long in the market. Nifty is now headed towards 8900-9000 levels. BankNifty is in positive momentum and would drive Nifty towards specified targets. Traders can hold long positions with stoploss of 8627 for Nifty spot levels and 19726 for BankNifty spot levels on closing basis. Market would enter into negative zone, if it closes below these levels. For now, Market has taken monthly reversal and 9000 levels would achieve in upcoming days for Nifty irrespective of any temporary downfall. The support for the Nifty is 8697-8675-8615-8600-8570-8550 and the resistance to the up move is at 8775-8800-8830-8885 levels.

19 comments:

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    Replies
    1. Some profit booking can’t be ruled out but every downfall would be temporary and an opportunity for traders to go long in the market. Nifty is now headed towards 8900-9000 levels.

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