NIFTY TOUCHES 1-MONTH LOW, SENSEX FALL CONTINUES

The Sensex ended with a loss of 66 points at 26242. The indices opened at 26368, touched an intra-day high of 26396 and low of 26213.The Nifty was down 21 points and closed at 8,061. It opened at 8,105 points, hitting a high of 8,112 and low of 8,053. Nifty opened above 8100 but was unable to sustain the same and lost momentum towards the end of trading hours. Sensex also closed in red and was down 0.25%.

                                                For Nifty, 8150 remains the important immediate resistance for the index, sustaining above which buying might have been seen, however, as the market reached the closing hours it lost the resistance and touched a 1-month low. Nifty closed on a negative note at 8082 level .So today on upside first intra resistance is at 8116-21 level. Next resistance are at 8145-50,8175-80,8212-17,8258-63,8275-80,8315-20.On downside first support is at 8048-43 level. Next support are at 8020-15,7990-85,7943-48,7908-03,7874-69,7854-49 level.

TOP GAINERS:  Ultratech Cement, Lupin, NTPC, Maruti, IndusInd Bank, Hindalco, ONGC

TOP LOSERS:  Infratel, Sun Pharma, ITC, Idea, Ambuja Cement, Zee, HCL Tech

TRADE IDEA ON YESBANK FUTURE FOR 21 DEC 2016

“BUY YESBANK ABOVE 1165 TGT 1175/1190”

“SELL YESBANK BELOW 1152 TGT 1142/1130”

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Primary trend of the stock is bearish and It is expected to continue the down trend with the crossing of the support level of 1150, as the stock is sustaining below its 22&55 days moving averages. 1120 level act as a strong support on 200 EMA. One may initiate the long position only above the (1165) mentioned level for the targets of 1175/1190 and with the strict stop loss of 1150.

Nifty LOST 41 POINTS ;breaches 8100 mark

The Sensex lost 133 points or 0.5% at the day's low of 26,241 in mid-afternoon trade, its lowest level since 7 December 2016. It rose 60.86 points or 0.23% at the day's high of 26,435 in early trade. The Nifty lost 41 points or 0.51% at the day's low of 8,062  in mid-afternoon trade, its lowest level since 5 December 2016. It rose 19.75 points or 0.24% at the day's high of 8,124 in early trade. The Nifty breached the 8100 mark while the Sensex too traded in the negative zone for the fifth straight session as investors shied away from taking any big bets on rising geopolitical concerns dragging key benchmarks to their two-week lows. Nifty closed on a negative note at 8108 level .

                                          Technically So today on upside first intra resistance is at 8129-34

SENSEX ,NIFTY ENDS ON A LOW NOTE

The Sensex ended with a loss of 115 points at 26374. The indices opened at 26505, touched an intra-day high of 26505 and low of 26340.The Nifty was down 35 points and closed at 8,127. It opened at 8,132 points, hitting a high of 8,148 and low of 8,127. Sensex, Nifty traded in red throughout the day and ended on a weaker note than it opened. Nifty sectoral indices also ended in red while Nifty IT was in green and up very marginally by 0.01%. Also, the Sensex indices ended on a negative note after being marginally down.

200 DMA - STRONG HURDLE.

The indices thus continues to move in sideways consolidation mode with short term average of 20dma acting as a support and long term average of 200dma acting as a strong hurdle or resistance. The market is in midst of a Pull-back and the Pull-back will continue only if the indices manage to overcome the strong hurdle of 200dma. Nifty closed on a negative note at 8127 level .So today on upside first intra resistance is at 8167-72 level. Next resistance are at 8195, 8220, 8255. On downside first support is at 8111-06 level.Next support are at 8083,8057,8005

TOP GAINERS:  GAIL, Aurobindo Pharma, Tata Power, Cipla, Grasim, ICICI Bank, Lupin

TOP LOSERS:  Infratel, Asian Paints, Sun Pharma, Bosch, Adani Ports, Maruti, Ultratech

WEEKLY TECHNICAL ANALYSIS OF UPL FOR 19-23 DEC 2016

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YESTERDAY'S IGL HIT  TGT 915 MADE HIGH OF 920.80
DAILY PROFIT: 45760 IN JUST TWO LOT
“BUY UPL ABOVE 668 TGT 675/700”

Primary trend of the stock is bullish and It is expected to continue the bull run with the crossing of the resistance level of 670, as the stock is sustaining above its 22&55 ,200 days moving averages with the RSI 50. One may initiate the long position above the mentioned level for the targets of 675/700 and with the strict stop loss of 650.

Nifty end in red after trading in narrow range

The Sensex ended with a loss of 30 points at 26489. The indices opened at 26548, touched an intra-day high of 26594 and low of 26455.The Nifty was down 14 points and closed at 8,139. It opened at 8,178 points, hitting a high of 8,178.and low of 8,127. Technically,A strong break below 8150 will increase the downside pressure and drag it to 8000. Traders can go short on a break below 8150 with a stop-loss at 8250 for the target of 8100/8000.On the other hand, a decisive break above 8220 will ease the downside pressure and take the index futures higher to 8300 and 8400 thereafter.

TOP GAINERS:  Tata Motors, Zee, Bosch, Infosys, Infratel, TCS, Eicher Motors, Maruti, 

TOP LOSERS:   Hindalco, Ultratech Cement, Bharti Airtel, ONGC, BHEL, Grasim, 

TRADE IDEA ON IGL FUTURE FOR 16 DEC 2016

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“BUY IGL ABOVE 900 TGT 915/930”

Primary trend of the stock is bullish and It is expected to continue the bull run with the crossing of the resistance level of 900, as the stock is sustaining above its 22&55, 200 days moving averages. One may initiate the long position above the mentioned level for the targets of 915/930 and with the strict stop loss of 850.

Nifty ends at 8153 after Fed move

The Sensex ended with a loss of 84 points at 26519. The indices opened at 26497, touched an intra-day high of 26737and low of 26407.The Nifty was down 29 points and closed at 8,153. It opened at 8,128 points, hitting a high of 8,225 and low of 8,121. Towards end of the trading hours, Sensex and Nifty both lost points it had gained in the afternoon hours of trade. Both indices closed in red, Going forward market is likely to stay volatile as the

MARKET EXPECTING GOOD HOPES FROM US FED OUTCOME

The Sensex ended with a loss of 95 points at 26697. The benchmark indices opened at 26707., touched an intra-day high of 26736. and low of 26547.The NSE Nifty was down 39 points and closed at 8,182. It opened at 8,229. points, hitting a high of 8,229. and low of 8,165. Technically,  The Nifty reclaimed its crucial support level at 8,200 . which is a positive sign and could be due to short covering amid positive global cues. The Nifty registered a large bear candle on the charts in the previous session. A strong break below 8170 will increase the downside pressure and drag it to 8100/8000. on the downside to prevent further damage. However, on the upside a break above the 8,230 level is likely to lift hopes for the bulls. 

Investors eyeing fed policy

The market mirrored the volatility seen in other emerging markets and settled below the 8,200 mark as investors remain cautious ahead of today’s Fed policy. A 25 bps rate hike is widely expected but any hawkish comment would act as a cloud over the EMs. Back home, both the CPI and WPI inflation has declined in November after currency shortage depressed the consumer demand. This may provide RBI a room for ease in interest rate

TOP GAINERS:  Axis Bank, HCL, Reliance, Tata Power, Infosys, Asian Paints, M&M 

TOP LOSERS:  Coal India, Bosch, Aurobindo Pharma, Eicher Motors, ACC, ONGC, Tech 

MARKET ENDS WITH DECENT GAINS, NIFTY CLOSES ABOVE 8200

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The Sensex ended with a gain of 182 points at 26697. The benchmark indices opened at 26607, touched an intra-day high of 26724 and low of 26494. The Nifty gained 51 points and closed at 8,221. It opened at 8,196.15 points, hitting a high of 8,228. and low of 8,155.

Market gained on account of positive European market and short covering ahead of FED policy tomorrow. Investors are eyeing today’s CPI data to ascertain the extent of demonetizations impact in conjunction with RBI’s recent monetary policy stance. consumer price index (CPI) number, which is due to come late today is estimated to be at 3.8% for November against 4.2% in October.

                                        Technically, Nifty bull run continues, supporting this are the upwards run by associated indices.  The Nifty reclaimed its crucial support level at 8,200 . The nifty has also managed to break past its crucial 200-day SMA placed at the 8,190 level, which is

TRADE IDEA ON STAR FUTURE FOR 13 DEC 2016

“BUY STAR ABOVE 1130 TGT 1150/1170”

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Primary trend of the stock is bullish and It is expected to continue the bull run with the crossing of the resistance level of 1130, as the stock is sustaining above its 200 &55, 22 days moving averages. One may initiate the long position above the mentioned level for the targets of 1150/1170 and with the strict stop loss of 1090.

Sensex gains 258 points, Nifty ends above 8200

The Sensex ended with a gain of 230 points at 26515. The benchmark indices opened at 26725, touched an intra-day high of 26725. and low of 26468.The Nifty gained 91 points and closed at 8,170. It opened at 8,230. points, hitting a high of 8,230. and low of 8,154. The indices Sensex, Nifty ended the day in red, touching the day's low. Both indices dropped by 1%. 

TOP GAINERS:  ONGC, NTPC, Sun Pharma, LT, TCS, PowerGrid, Reliance

TOP LOSERS:   BPCL, Ultratech Cement, Asian Paint, Eicher Motors, Tata Motor DVR,