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

WEEKLY TECHNICAL VIEW ABOUT RELIANCE

YESTERDAY’S RECOMMENDATION UPDATE:

SIEMENS ROCKS HIT TGT 1155 MADE LOW OF 1151

 SELL GIVEN AT 1179

LOT SIZE: 500

TOTAL PROFIT: 28000 IN JUST 2 LOT

 “SELL RELIANCE BELOW 1025 TGT 1000-980 SL 1055”

TECHNICAL BASIS FOR ABOVE CALL :

RELIANCE,  is forming a reversal pattern in short term charts, it is likely to show correction with the breach of the support level of 1025, where one may initiate the short position in it for the targets of 1000/980, while stop loss can be placed at 1055. One can expect selling the stock if it breaks its major support at 200 EMA. Then stock can be reached at 980.It is trading BELOW 50&22 with the RSI of 40.

SELL SIEMENS FUTURE FOR 20 JAN 2016

SELL SIEMENS BELOW 1179 TGT 1155 SL 1205”

TECHNICAL BASIS FOR ABOVE CALL :

SIEMENS, is in bull run and is forming a reversal pattern in short term charts, it is likely to show correction with the breach of the support level of 1179, where one may initiate the short position in it for the targets of 1150, while stop loss can be placed at 1205. 200 EMA seen as a support level (1179). One can expect further selling the stock if it breaks its major support at 200 EMA. Then stock can be reached at 1150.It is trading above 50&22 with the RSI of 61

Technically, Indian Stock Market is still in positive zone. Market would continue to consolidate as of now. BankNifty would remain stronger than other major indexes. Some profit booking can be seen but sharp downfall is not expected till Union Budget due to higher expectations. one big swings would be seen in the market tomorrow. Traders can still hold long positions until Market holds 8366 levels for Nifty and 18952 levels for BankNifty on closing basis. Once Nifty closes below 8366 levels . then traders can initiate fresh short positions until then every dip is an opportunity for traders to go long in the market.

                     So on upside first intra resistance are at 8475,8495,8520,8550. On downside first support is at 8380 level.Next support are at 8366,8320,8300,8250.

TRADE IDEA ON MINDTREE FUTURE FOR 18 JAN 2017

“BUY Mindtree ABOVE 502 TGT 515/530 SL 485”

Primary trend of the stock is bullish and it may consolidating NEAR  the 500 level .It is expected to continue the bull run with the crossing of the resistance level of 502, as the stock is sustaining above its 200 and 50&22 days moving averages with 50 RSI. One may initiate the long position above the mentioned level for the targets of 515 and with the strict stop loss of 530.

RESULT ON 19-JAN-2017 Midcap IT company Mindtree  third quarter profit is seen rising 11.8 percent sequentially to Rs 106 crore but dollar revenue may remain unchanged at USD 193 million, according to average of estimates of analysts . Revenue in rupee terms may increase 0.5 percent to Rs 1,303 crore in December quarter compared with Rs 1,295.4 crore in previous quarter. Operating profit during the quarter is expected to rise moderately to Rs 166 crore from Rs 162.1 crore and margin may expand to 12.7 percent from 12.5 percent on sequential basis due to absence of wage and restructuring related costs.

Reversal To Be Seen Only If Nifty Closes Below 8351   

Technically, Indian Stock Market is still in positive zone. Market looks to be overstretched

YESTERDAY’S RECOMMENDATION UPDATE:

UPL ROCKS HIT TGT 720 MADE HIGH OF 736.90

 BUY GIVEN AT 706

LOT SIZE : 1200

TOTAL PROFIT : 37080 IN JUST 1 LOT

Check out Technical Report and Trading Call on UPL Future for Tomorrow

“BUY UPL ABOVE 706 TGT 720 SL 690”

TECHNICAL Basis for above call :

Primary trend of the stock is bullish and it may consolidating at the higher level .It is expected to continue the bull run with the crossing of the resistance level of 706, as the stock is sustaining above its 200 and 50&22 days moving averages with 65 RSI.One may initiate the long position above the mentioned level for the targets of 720 and with the strict stop loss of 690.

         Technically, Indian Stock Market is still in positive zone. For now, market would consolidate until Nifty breaches levels of 8450 on closing basis. Some profit booking can ruled out at this point of time as Nifty to face immediate resistance at 8460-8500 and Nifty would see trend reversal at 8351 levels. If Nifty closes below 8351 levels then traders can initiate fresh short positions. For now, traders can hold long positions with strict closing stoploss of 8351 for Nifty levels.

                                  So on upside first intra resistance are at 8450,8460,8484,8500. On downside first support is at 8380 level.Next support are at 8351,8320,8300,8250.

TOP GAINERS:  Adani Port, Idea, Tata Steel, Tata Motors, SBI and Bosch Limited

TOP LOSERS:  HCL Tech, Infosys, Eicher Motors, Tata Power and Sun pharma

WEEKLY TECHNICAL ANALYSIS OF ARVIND FOR 16-20 JAN 2017

“BUY arvind ABOVE 375 TGT 388/395 SL 362”

FOR MORE CALLS FILL UP THE FORM GIVEN HERE>>>>>

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 375 as the stock is managing to sustain above the level of 375. One may get the targets of 388,395 in the stock with the stop loss of 392.22&55 and 200 EMA act as a support levels with RSI 60.

MARKETS FLAT, NIFTY STRUGGLES NEAR 8,400

Sensex opened the week at 26741, made a high of 27257, low of 26711 and closed the week at 27218. Thus it closed the week with a gain of 459 points. At the same time the Nifty opened the week at 8266, made a high of 8457, low of 8241 and closed the week at 8420. Thus it closed the week with a gain of 152 points. Technically,Nifty would see strong support at 8380-8355-8335-8300-8280/8250 whereas strong resistance would be seen at 8455-8478-8500-8525-8544-8600 levels.

TRADE IDEA ON INFY FUTURE FOR 13 JAN 2017

YESTERDAY’S RECOMMENDATION UPDATE:
As we have predicted tcs opened on higher note at 2436, then our call is executed later & achieved tgt 2355

“BUY INFY ABOVE 1008 TGT 1018/1030 SL 995”

FOR MORE CALLS FILL UP THE FORM GIVEN HERE>>>>>

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 1008 as the stock is managing to sustain above the level of 1000.200 EMA act as  resistance level at 1050. It may give breakout( 1050) in upcoming sessions. And 22&55 EMA act as support levels at 995,985.  As the stock is sustaining above its 22&55 days moving averages with the RSI 55. One may get the targets of 1030,1050 in the stock with the stop loss of 985.

Indices settled the day higher amid choppy trade led by gains in the IT index after Donald Trump did not announce any stringent rules for H1B visa. It was a third consecutive upbeat day for the Indian markets. After heightened volatility, Nifty closed moderately higher at crucial 8407. Technically, The outlook is bullish for the Nifty. Traders can make use of intra-day dips to buy the Nifty with a stop-loss at 8,250 levels. The contract can resume its up move and test resistance at 8,450 levels. An emphatic breakthrough of 8,450 can push the contract higher to 8,500 and then to 8,600 levels in the short term. On the other hand, a