BUY STAR FUTURE FOR WEEKLY HOLDING 30 JAN-03 FEB 2017

“BUY STAR ABOVE 1155 TGT 1175/1200 SL 1120”

read more to know technical basis :

Primary trend of the stock is bullish and it may consolidating NEAR  the 1150 level .It is expected to continue the bull run with the crossing of the resistance level of 1155, as the stock is sustaining above its 200 and 50&22 days moving averages with 55 RSI. One may initiate the long position above the mentioned level for the targets of 1175,1200 and with the strict stop loss of 1120.

Nifty posts biggest weekly gain in 8 months

Markets opened on a bullish note on Friday with the major indices soaring in early hours. Sensex closed at 27882levels, up by 174.32 points or 0.63%. Niftyclosed at 8641, up by 38.5 points or 0.45%. Nifty hovered around the all-crucial 8650 level before closing below it.

The Nifty retains its bullish momentum. The contract opened with a wide gap-up at 8,649 and rose to a high of 8,695. It is below the psychological 8,700-Mark. Whether the nifty breaks above 8,700 or not will decide the move for the rest of the sessions. A strong break above 8,700 will see the up-move extending to 8,730 or 8,760. Short-term traders with high

LONG ZEEL FUTURE FOR 27 JAN 2016

“BUY ZEEL ABOVE 505 TGT 520/530 SL 490”

FOR LIVE MARKET OR BUDGET SESSION CALLS  

 08030636442

         The market has seemingly recovered from the demonetization gloom with Nifty ending above its crucial 8,600-mark for the first time since November 01. The positive rollovers to February series contributed to the gains. Technically, It opened with a gap-up above the psychological 8,500 mark and rose to a high of 8,606. The outlook remains bullish. Strong near-term support is at 8,490. As long as the nifty trades above this support, a rise to 8,550 or even 8,700 is likely in the coming sessions well ahead of the Union Budget next week. Short-term traders can go long at current levels. Accumulate longs on dips near 8,500. Keep the stop-loss at 8,480 for the target of 8,600.Outlook for the contract will turn negative only if it declines below 8,490 decisively. The next targets will be 8,450 and 8,430. But such a strong break and fall below 8,490 looks unlikely at the moment.

                        Expect Union Budget, due on February 1, to provide incentives to some sectors to help support economic growth.  So on upside first intra resistance are at 8610,8622,8650,8675. On downside first support is at 8490 level. Next support are at 8470,8445,8420,8380.

TOP GAINERS:  Kotak Bank, Bosch Ltd., Zeel, HDFC, Yes Bank, Adani Ports, Axis Bank,

TOP LOSERS:  Bharti Airtel, Wipro, Tech Mahindra, Reliance, Idea, Gail, HCL Tech

TRADE IDEA ON WOCKPHARMA FUTURE

“BUY wockpharma ABOVE 690 TGT 720/750 SL 650”

TECHNICAL BASIS FOR ABOVE CALL :

Primary trend of the stock is bearish., 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 700 as the stock is managing to sustain above the level of 700. One may get the targets of 730,750 in the stock with the stop loss of 650. 55 and 200 EMA act as a resistance breakout levels with RSI 50.

Market at over two-months high; Nifty close above 8450

Markets end on an extremely bullish note with the Sensex closing at 27375 levels up by 258.24 points or 0.90% and Nifty closing at 8475 levels up by 84.3 points or 1% and only 7 Nifty stocks closed in red.  Technically, The Nifty  opened with a gap-up at 8,421 and rose to an intraday high of 8,450. However, it is currently coming-off from the day’s high. Immediate support is at 8,422 which can be tested, but a break below it looks less probable.

NIFTY TAKES SUPPORT AT 200 DMA

As expected the markets faced strong hurdle at the Bearish Gap between Nifty 8460-8510 and retraced. After three weeks of upward movement, some consolidation was to be expected and it happened. Both the indices have taken support at the Bullish Gap Nifty 8322-8293. Interestingly even the long term average of 200dma falls in this Gap, which makes it a very strong support. The current market movement is in a narrow range defined by the two above mentioned Gaps.

                                Technically,Nifty may see downtrend till 8280 levels where it would cover the gap that was left few days ago. This downtrend is good for the market before Union Budget as it suggests low expectation from Budget. The more the downfall, better it is, as any positive announcement in Union Budget would result in more stable positive rally. For now, traders can go short at every positive rally and investors can accumulate stocks of blue chip stocks at every downfall. So on upside first intra resistance are at 8450,8475,8494,8520. On downside first support is at 8380 level.Next support are at 8351,8320,8300,8250.

RESULT TOMORROW: Bharti airtel, Biocon,HDFC bank, zeel, wockpharma, tvsmotor

TOP GAINERS:  Zee Entertainment, Hindalco, Grasim, HCLTech and GAIL

TOP LOSERS:   ICICI Bank, Dr Reddy, Axis Bank, Infratel and LT