TECHNICAL ANALYSIS OF LT FOR 23 SEP 2016

 “BUY LT ABOVE 1510 TGT 1530/1550”

The stock is showing correction since past few sessions and also sustaining above lower trend line support level. Currently it has formed reversal pattern on the short term charts and trading below the resistance level of 1510.Breakout of its resistance level may show recovery in it where traders can expect targets of 1530 and 1550 while major support of 1480can be placed as technical stop loss.

The Nifty closed above the crucial psychological barrier of 8,850-mark; Fed keeps interest rates unchanged

Sensex ended with a gain of 266 points at 28,773. The Sensex opened at 28,767 touched an intra-day high of 28,872 and low of 28,693.The Nifty closed with a gain of 90 points at 8,867. The Nifty opened at 8,873 hitting a high of 8,893 and low of 8,837. market finished higher on Thursday, reversing two day’s losses as buying beaten down blue chip stocks supported market sentiment. However, the markets witnessed some profit booking near the day’s high, later on positive opening of the European markets helped markets regain strength.

                In overseas stock markets, European and Asian stocks edged higher mirroring gains in the US market after the Federal Reserve left interest rates unchanged and projected a less aggressive path for hikes next year and in 2018. US stocks registered strong gains yesterday, 21 September 2016, after the Federal Reserve kept interest rates unchanged but hinted at the possibility of a rate hike later this year. Concluding a two-day meeting, the Federal Open Market Committee (FOMC) announced that the federal funds rate will remain at 0.25% to 0.5%. The Fed also said risks to the economy have diminished since its last meeting in July. The Fed last raised rates in December 2015, the first hike in almost a decade.The Fed said US economic activity had picked up and job gains were "solid" in recent months.

TOP GAINERS:  Hero MotoCorp, NTPC, Adani Ports, SBI and Power Grid

TOP LOSERS:  Lupin, Axis Bank, TCS, HUL, Coal India and Wipro

NIFTY ABOVE 8,800 ; US FED ACTION EYED

The Sensex ended with a loss of 16 points at 28,507. The Sensex opened at 28,554 touched an intra-day high of 28,689 and low of 28,462.The Nifty closed with a loss of mere one points at 8,777. The Nifty opened at 8,790 hitting a high of 8,827 and low of 8,757.30. Markets erased intra-day gains to end flat after investors turned cautious ahead of the US Federal Reserve's decision on interest rate later today. Indian Stock Market was open flat with negative bias. Technically analysis would still remain same, Nifty is in Positive zone but BankNifty is still in negative zone. BankNifty would enter into positive zone once it closes above 20080 levels. Market would remain volatile before US FED meeting and Bank Of Japan’s Monetary Policy. Some correction was seen today but traders should go long at every dip in the market. Once BankNifty enters into positive zone, Indian Stock Market would see a strong comeback and a sharp positive rally would be seen in the market. Until then market would consolidate in a rangebound region. Traders should buy at dips until Nifty holds 8750 levels on closing basis. Breaching levels of 8688 for Nifty would force market to see a sharp downfall, so traders can hold long positions with strict stoploss of 8688 spot levels for Nifty.

EVENTS TODAY :

In overseas stock markets, European stocks edged higher after the Bank of Japan (BoJ) announced new monetary policy measures and as investors awaited the outcome of the US Federal Reserve's policy meeting .Indices rallied tracking positive trend seen in Asian markets after Bank of Japan unveiled a slew of fresh changes to its policy stance after its meeting on Wednesday, but kept rates unchanged. Japanese stocks led gains in Asian markets after the BoJ kept its deposit rate steady at minus 0.1% after the conclusion of its two-day monetary policy meeting today, 21 September 2016. Japan's central bank also said it would purchases of long-term government bonds with an incremental 80 trillion yen per year. Japan's Nikkei 225 Average ended 1.91% higher. BoJ also said it would expand its monetary base until inflation becomes stable above 2%. The central bank said it is committed to achieve 2% inflation as soon as possible. The central bank has decided to scrap its monetary base target.

TOP GAINERS:  Adani Ports, Bharti Airtel, GAIL, Axis Bank, Sun Pharma ,Power Grid

TOP LOSERS:  Hero MotoCorp, Maruti Suzuki, Bajaj Auto and ONGC

WEEKLY WOCKPHARMA CALL UPDATE:

" WOCKPHARMA FUTURE CALL ROCKS....!!! 

HIT TGT 870 MADE LOW OF 869.90

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TRADE IDEA ON HEROMOTOCO FOR 21 SEP

“BUY HEROMOTOCO AT 1526 TGT 1545/1565”

"SELL HEROMOTOCO AT 3469 TGT 3430/3400"

HEROMOTOCO  is showing correction since past few sessions and also sustaining above lower trend line support level 3470. Currently it has formed reversal pattern on the short term charts and trading below the resistance level of 3510.Breakout of its resistance level may show recovery in it where traders can expect targets of 3550 and 3580 while major support of 3450 can be placed as technical stop loss.

CANDLESTICK VIEW: BLACK OPENING MARUBOZU

A Black Opening Marubozu indicates that the sellers controlled the price action from the first trade to the last trade.However, the day does not close at the low, and thus creates a lower shadow.This candlestick is generally bearish. However, its position within the broader technical picture is also important. It may show a potential turning point and suggest that prices have reached to a resistance level after an extended rally (Bearish Belt Hold Pattern). If it is seen after a long decline, it may signal panic or capitulation, a final sell off attempt before bulls regain control. Still, the candlestick alone is not reliable enough to decide the direction of the markets, since it reflects only one day’s trading

EVENTS TODAY & TOMORROW:

The US Federal Reserve policy makers begin their two-day policy meeting today, 20 September 2016. The Fed is expected to keep its benchmark interest rate unchanged in the wake of recent downbeat US economic indicators. The Fed left the target range for its federal funds rate unchanged at 0.25% to 0.5% for the fifth time during its July 2016 meeting.

Nifty below 8,800; US Fed, BoJ meets eyed

The Sensex ended with a loss of 111 points at 28,523. The Sensex opened at 28,691 touched an intra-day high of 28,699 and low of 28,481.The Nifty closed with a loss of 33 points at 8,776. The Nifty opened at 8,816 hitting a high of 8,816.45 and low of 8,759. The Indian equity market snapped a four-day winning streak on Tuesday led by profit booking, coupled with negative global cues and caution ahead of major global financial events. Now Technically, Nifty has entered into positive zone .For now, traders can go long in Nifty at every dip in the market. Nifty may see some immediate resistance at 8850 levels breaching which Nifty would see a sharp positive rally.

TOP GAINERS:  Dr. Reddy's, ONGC, Maruti Suzuki, Cipla, M&M, Asian Paints

TOP LOSERS:  Hero MotoCorp, Bharti Airtel, Adani Ports and Infosys

MARKET PROVISIONALLY SETTLES WITH SMALL GAINS, NIFTY ENDS ABOVE 8800

Stocks kept their winning run going for a fourth session, Sensex ended with a gain of 36 points at 28,635. The Sensex opened at 28,627 touched an intra-day high of 28,715 and low of 28,553.The Nifty closed with a gain of 29 points at 8,808. The Nifty opened at 8,788.45 hitting a high of 8,824 and low of 8,774.20. Nifty ended marginally higher on Monday amid volatility, thanks to favorable cues both from the domestic and global front. Firm Asian markets led a positive start but prevailing cautiousness ahead policy meet of two major central banks, Bank of Japan and US Fed, capped upside. We reiterate our view to hold positive yet cautious approach till 8800 is intact in Nifty.

UPCOMING EVENTS:

The US Federal Reserve policy makers begin their two-day policy meeting tomorrow, 20 September 2016. The Fed is expected to keep its benchmark interest rate unchanged in the wake of recent downbeat US economic indicators. The Fed left the target range for its federal funds rate unchanged at 0.25% to 0.5% for the fifth time during its July 2016 meeting.

TOP GAINERS: TCS, ICICI Bank, ONGC, Asian Paints and Adani Ports

TOP LOSERS:  Maruti Suzuki, Bajaj Auto, HDFC, ITC and Axis Bank

WEEKLY ANALYSIS OF WOCKPHARMA FOR 19 SEP-23 SEP

“BUY WOCKPHARMA ABOVE 952 TGT 980/1000”

“SELL WOCKPHARMA BELOW 900 TGT 870/845”

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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 952 as the stock is managing to sustain above the level of 950. One may get the targets of 950/1000 in the stock with the stop loss of 900.

CANDLESTICK PATTERN:BULLISH TWO RABBITS

A downtrend has been in place, and the strong black candlestick adds to the bearishness that is already present. The following day opens lower with a gap down. Prices rise a little bit, and a short white candlestick is observed. The bears are not alarmed by this day, because even though a white body appears, prices fail to close above the close of the previous day. The third day opens at or below the close of the second day, but it rallies throughout the day and closes well within the body of the first day. The third day’s price action fills the gap of the second day, and shows that bearishness is eroding.

sensex ends higher ,Nifty above 8750

Today, Sensex ended with a gain of 186 points at 28,599. The Sensex opened at 28,520 touched an intra-day high of 28,779 and low of 28,495.The Nifty closed with a gain of 37 points at 8,780. The Nifty opened at 8,781 hitting a high of 8,848 and low of 8,751.The Indian stock market carried on with its northward journey and rallied for the third straight session tracking a positive trend seen in Asian markets after weak US data reduced the already low chance of an interest rate hike by the Federal Reserve at next week's meeting. 

TOP GAINERS:  Eicher Motors, Grasim, ITC, BPCL, Hero MotoCorp, Axis Bank, TCS

TOP LOSERS:  Yes Bank, BHEL, Tata Steel, Zee, Hindalco, Asian Paints and Tata Motors 

TECHNICAL ANALYSIS OF AMARAJABAT

“BUY AMARAJABAT ABOVE 1052 TGT 1078/1100”

AMARAJABAT  Primary trend of the stock is bullish and is consolidating at the higher level after showing correction. It is expected to continue the bull run with the crossing of the resistance level of 1052, as the stock is sustaining above its 200 and 50 days moving averages. One may initiate the long position above the mentioned level for the targets of 1100/1130 and with the strict stop loss of 1020.

CANDLESTICK PATTERN: BULLISH TWO RABBITS

A downtrend has been in place, and the strong black candlestick adds to the bearishness that is already present. The following day opens lower with a gap down. Prices rise a little bit, and a short white candlestick is observed. The bears are not alarmed by this day, because even though a white body appears, prices fail to close above the close of the previous day. The third day opens at or below the close of the second day, but it rallies throughout the day and closes well within the body of the first day. The third day’s price action fills the gap of the second day, and shows that bearishness is eroding.
SENSEX ENDS RANGEBOUND SESSION HIGHER, NIFTY ABOVE 8750

Sensex ended with a gain of 41 points at 28,413. The Sensex opened at 28,398 touched an intra-day high of 28,444 and low of 28,311.The Nifty closed with a gain of 16 points at 8,743. The Nifty opened at 8,744 hitting a high of 8,752 and low of 8,704.35. The Indian equity market spent the entire day in a narrow range after the recent slide and ended marginally higher for the second consecutive session.

TOP GAINERS:  BHEL, ZEE, RIL, Maruti Suzuki, ITC, Hindalco, Cipla, HDFC, HDFC

TOP LOSERS: Yes Bank, Power Grid, Axis Bank, Bajaj Auto, NTPCand BPCL

SENSEX CLOSES FLAT IN A LACKLUSTRE TRADE, NIFTY SETTLES ABOVE SUPPORT LEVEL 8,720

Sensex ended with a gain of 19 points at 28,372. The Sensex opened at 28,345 touched an intra-day high of 28,416 and low of 28,259.The  Nifty closed with a gain of 11 points at 8,727. The Nifty opened at 8,711 hitting a high of 8,740 and low of 8,689. After witnessing a gap down opening on Monday, stock markets opened today on a relatively sedate note but traded volatile during the day. The Nifty on Wednesday closed the volatile session marginally in the green, but above the crucial support level of 8,720. Yes Bank staged a recovery after a sharp correction in the previous sessions after it deferred its QIP issue. The stock gained 4%. Indian Stock Market was open negative. Technically, Indian Stock Market is still in negative zone. Market would see further downfall and traders can hold short positions as of now. Some buying would be seen at lower levels that may help market to see some bounce but for now, overall market is negative and every positive movement is an opportunity for traders to go short in the market and every downfall would be an opportunity to book profits near support levels. Traders should remember that this downfall is for very short term and would be considered just as correction to this positive rally but can take index to levels of 8600-8500 if seen below 8700 for Nifty.

CANDLESTICK PATTERN:

The index formed a 'Spinning Top' kind of pattern for the second day in a row, which indicated indecisiveness among the bulls as well as the bears. The pattern resembles a 'Spinning Top' kind of candlestick pattern, because the distance between the opening level and the intraday high is almost equal to the distance between the opening level and the intraday low.

TOP GAINERS:  Bank of Baroda, Yes Bank, Tata Motors DVR, , Axis Bank

TOP LOSERS:  Bosch, Coal India, ONGC, TCS, Sun Pharmaceuticals, KotakBank