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.

INVEST IN ZEEL FUTURE FOR BETTER RETURN

“BUY ZEEL ABOVE 505 TGT 519/530 SL 490”

READ MORE TO KNOW TECHNICAL BASIS :

Zee Entertainment announced the launch of two new channels, Zee Bollymovies and Zee Bollynova, which will broadcast on Africa's new pay-TV network Kwes TV. Zee posted strong performance in Q3 despite advertising revenues shrinking at just 3.4% yoy. Subscription growth managed to record a lower teen growth at 13.7% while the overall topline grew at 3.4% slightly above our expectations. Hiving off of the sports business will offer a good riddance from a business which was dragging down the profitability. This will lift up the margins from FY18E. In line with this, we have raised our sales as well as margins estimates slightly for FY17E & FY 18E and have introduced FY19E estimates arriving at a target price of Rs 583, an upside of 22%. Maintain BUY.. It is expected to continue the bull run with the crossing of the resistance level of 505, as the stock is sustaining above its 200 and 50&22 days moving averages with 765  RSI. One may initiate the long position above the mentioned level for the targets of 550,580 and with the strict stop loss of 490.

SENSEX ENDS HIGHER; NIFTY ABOVE 8730

The Nifty started the session on a negative note by opening at 8,730 levels. It recorded an intra-day high at 8,773 but failed to sustain the momentum. After witnessing selling pressure the contract declined and registered an intra-day low at 8,697 levels. It is likely to remain in a sideways band between 8,700 and 8,737. However a strong slump below the immediate support level of 8,700, can take the contract down to 8,680 and 8,650 levels.

SIEMENS FUTURE BUY OR SELL FOR 02 FEB 2017

“BUY SIEMENS ABOVE 1170 TGT 1185/1200 SL 1150”

READ MORE TO KNOW TECHNICAL BASIS :

Primary trend of the stock is bullish and it may consolidating NEAR  the 5170 level .It is expected to continue the bull run with the crossing of the resistance level of 5170, 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 1185,1200 and with the strict stop loss of 1150.

Budget pushes Nifty above 8,700 for 1st time since October 25

Exactly as predicted, Indian Stock Market opened flat for the day. We predicted that market would remain positive for today ahead of Union Budget and exactly same happened. Market remained positive for the after mid trading session and fell down to see lows right at  predicted support levels of 8550 for Nifty Traders, who followed our prediction might have earned huge profits for the day. Finally, Indian Stock Market closed positive for the day.

                                           Going forward we hold 8737-8745 as the immediate resistances followed by 8810 as the crucial resistance. On the downside if Nifty retreats due to profit booking we hold 8670-8600 as the supports for the Nifty.

NIFTY BELOW 8600; WARRY AHEAD OF UNION BUDGET

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Technically, Analysis would remain same. Indian Stock Market is still in positive zone but seen some choppiness today ahead of Union Budget. it continues to trade sideways in a narrow intra-day range between 8,580 and 8,640 levels. Nifty is also trading sideways in a narrow range. The market breadth is biased towards declines. Domestic indices turned cautious on today ahead of Budget 2017 after a strong rally in the previous week. Nifty Only a strong fall below the immediate support level of 8,550 will be a cue for initiating fresh short positions with a fixed stop-loss. Next key supports are at 8,530 and 8,500 levels. Key resistance beyond 8,650 is in the band between 8,690 and 8,750. Subsequent resistance is placed at 8,720 levels.

it sector in red

IT sector cracked during the day after on visa fears as the H1B visa bill was introduced in the House of Representatives. Nifty IT ended 3.2% lower, becoming the worst performing sectoral index. The index saw the biggest intra-day loss today since January 6. It shed 5.8% this month. All the IT stocks were trading in red, with TCS dragging the pack, down 4.6%. Tech Mahindra, HCL Tech, Wipro and Infosys fell between 2-4.3%.

Union Budget

The Union Government is then due to present its 2017/18 Budget on Wednesday, less than three months after Prime Minister Narendra Modi's bold and risky gamble to outlaw high-value old currency notes. Sentiment remained conspicuously cautious as investors preferred to reduce their positions ahead of the Union Budget tomorrow.

A subdued trend in Asia coupled with a decline on the Wall Street after President Donald Trump’s controversial crackdown on immigration and his plans to overhaul work-visa programmers dampened the domestic sentiment.

Economic Survey
The Economic Survey, presented in Parliament by Union Finance Minister Arun Jaitley projected the growth in 2017-18 to be 6.5% for the current fiscal, down from 7.6% recorded in the last financial year, but is expected to rebound in the range of 6.75-7.5% in 2017-18

LONG UPL FUTURE FOR 31 JAN 2017

“BUY UPL ABOVE 744 TGT 755/765 SL 732”

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  down 13 points market warry ahead of Union Budget

The Nifty started the week on a negative note with a gap-down opening at 8,645 levels. There after it continues to trade sideways in a narrow intra-day range between 8,636 and 8,666 levels. Nifty is also trading sideways in a narrow range. The market breadth is biased towards declines. Domestic indices turned cautious on Monday ahead of Budget 2017 after a strong rally in the previous week. Traders with a short-term perspective should desist trading in the Nifty February futures contract as long as it trades in the band between 8,636 and 8,670.Only a strong fall below the immediate support level of 8,636 will be a cue for initiating fresh short positions with a fixed stop-loss. Next key supports are at 8,620 and 8,600 levels. On further slump below 8,600, the contract can test supports at 8,580 and 8,550 levels. Key resistance beyond 8,670 is in the band between 8,690 and 8,700. Subsequent resistance is placed at 8,720 levels.

TOP GAINERS:   Idea, Bharti Airtel, Sun Pharma, Grasim and Dr Reddy

TOP LOSERS:   Infratel, Aurobindo Pharma, Tata Motors and Tata Steel