Friday, 3 March 2017

WEEKLY STOCK FUTURE TRADING TIP

BUY TCS ABOVE 2520 TGT 2560/2600 SL 2470
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 2520 ; as the stock is managing to trade above its 22 and 55&200 days moving averages with the RSI of 65, one may expect the targets of 2560/2600 in the stock if it manages to sustain above the immediate support level of 2500.
Sensex ends marginally lower on profit-booking
Sensex settled the day at 28,832, down 7 points, while the broader Nifty50 ended at at 8,897, down 2 points. On Friday, After a sharp downward intraday reversal on Thursday, the Nifty is trading on a mixed note today. The contract opened with a gap-down and is hovering

below 8,900. It is gaining strength to breach above the psychological 8,900 mark and not finding fresh selling pressure to extend its down move. Immediate support is at 8,870. A break below it can drag it to 8,850 initially. Further break below 8,850 will increase the likelihood of the contract falling to 8,800 in the coming sessions. On the other hand, if the index futures manage to breach above 8,900 decisively, a bounce back move to 8,950 or 8,980 is possible thereafter.


2 comments:

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