STOCK PICKS FOR 10 FEB 2017

“BUY UPL ABOVE 744 TGT 755/765 SL 730”

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 settles flat, Nifty below 8,800

After a positive opening at 8,816, the Nifty futures contract marked an intra-day high at 8,843.8.However, after witnessing selling pressure and due to profit-taking in PSU Banks, the contract began declining. While trending down, nifty breached the key immediate supports at 8,800 and 8,750 and recorded an intra-day low of 8,733.But it rebounded from this low and is on a marginal recovery mode. The market breadth towards advance/decline ratio is even.

               Strong rally beyond 8,800 is needed to ease the selling pressure and bring back

YESTERDAY’S RECOMMENDATION UPDATE:

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RBI leaves key rates unchanged

Sensex settled the day at 28,289, down 45 points, while the Nifty ended at 8,769, up 1 point. Cut of 25 bps was widely expected and would have uplifted the sentiments. This rate cut was necessary from the perspective of bringing that demand back in the system. Markets would

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BUY BANKNIFTY ABOVE 20410 TGT 20550/20650 SL 20349

SELL BANKNIFTY BELOW 20349 TGT 20250/20150 SL 20410

Nifty was trading in negative territory for whole day and closed in red at 8768  levels, down by 32points or 0.37%. Sensex closed at 28335levels, down by 104points or 0.37%. Technically, Indian Stock Market is still in positive zone. Market would consolidate and wait for the next trigger i.e. RBI Policy meeting,  that would be disclosed tomorrow. Some Profit booking can’t be ruled out at this point of time. BankNifty is near its last resistance of 20575 levels and once it closes above those levels, there is no looking back as it would confirm an Inverse Head and Shoulder pattern that would force BankNifty to see lifetime highs and even breach those levels with sharp positive momentum. This trigger would be seen if RBI see rate cut tomorrow. Overall, market is positive and traders should continue to hold long positions for now.. The support for the Nifty is 8765-8700-8688-8665 and the resistance to the up move is at 8830-8850-8900-8970 levels.The support for BankNifty is at 20330-20285-20165-20130 and the resistance to the up move is at 20576-20610-20780-20900 levels.

RBI POLICY MEETING

Expect the RBI to cut the repo rate by 25 basis points on Wednesday after December inflation hit a two-year low. But they warn it will be a close call since the central bank may even opt to maintain status quo until its next review in April.RBI may keep rates unchanged as it continues to assess the impact of the crackdown on high-value notes on inflation

NIFTY CLOSES ABOVE 8800 AT 5 MONTHS' HIGH

weekly UPL SELL call HIT TGT 720 MADE LOW OF 720.30!!!

Indian Stock Market would open positive. Technically, analysis would remain same and Indian Stock Market is still in positive zone. Traders should hold long positions as of now. Now, next target for Nifty is 8840-8860 levels. Nifty may see strong support at 8700 levels and is headed towards 8900-9000 levels. BankNifty is still in positive momentum and traders can hold BankNifty for the targets of 20500 levels in days to come. Market would see reversal if it closes below 8640 for Nifty and 19827 for BankNifty, until then every downtrend is an opportunity for traders to go long in the market. Overall, Market is positive and all trades should be in positive direction. RBI Policy would be disclosed on Wednesday that would further direct the market.
The support for the Nifty is 8697-8675-8615-8600-8570 and the resistance to the up move is at 8820-8840-8855-8885 levels.

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