NIFTY BELOW 8600; WARRY AHEAD OF UNION BUDGET

TO GET LIVE STOCK FUTURE CALLS GIVE A MISSED CALL ON 08030636442

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 

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

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.