SELL NIFTY FUT 2 LOTS BELOW 17250 TG 17170/17050
SL 17530
SELL BANKNFITY FUT 2 LOTS BELOW 37999 TARGET 37799/37549
SL 38349
SELL NIFTY FUT 2 LOTS BELOW 17250 TG 17170/17050
SL 17530
SELL BANKNFITY FUT 2 LOTS BELOW 37999 TARGET 37799/37549
SL 38349
During today's
session, the market started weak and selling was accentuated throughout, as the
market closed at the 17213.60 level with a loss of 302.70 points. The Bank
Nifty ended at 37995.45, a loss of 793.90 points.
Since the last three trading sessions, the Nifty has been trading with lower highs and lower lows, indicating weakness in the counter for the time being. Further, the index has broken
below the rising trend line and is trading below the middle band of Bollinger
bands, which suggests downside movement in the stock.
Stock markets were under pressure as strong US jobs data led to fears of
steeper than expected rate hikes by the Federal Reserve, resulting in a spike
in bond yields. Due to domestic inflation and global central bank policies tightening, there is a high likelihood that the market will remain volatile.
RESISTANCE |
R1 |
R2 |
R3 |
|
17455 |
17697 |
18104 |
SUPPORT |
S1 |
S2 |
S3 |
|
17048 |
16883 |
16476 |
15500/- PROFIT BOOKED IN CASH CALLS
LAURUSLAB CASH BOTH TARGET ACHIEVED 530/536 BUYING CALL GIVEN FROM 524 BOOKED PROFIT OF 9000 (1000 SHARES)
HINDALCO CASH TARGET ACHIEVED @ 531 BUYING CALL GIVEN FROM 525 BOOKED PROFIT OF 3000 (500 SHARES )
JSW STEEL CASH TARGET ACHIEVED @ 667 BUYING CALL GIVEN FROM 660 BOOKED PROFIT OF 3500 ( 500 SHARES )
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BUY LAURUSLAB ABOVE 524 TG 530/536 SL 517
BUY HINDALCO ABOVE 525 TG 531/537 SL 518
BUY JSW STEEL ABOVE 660 TG 667/674 SL 652
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AXISBANK-The stock has been forming a higher high higher low pattern since it bounced off the Rs 648 mark. In the week started January 24, 2022, the stock broke above the 20-Week SMA (Rs 734) following which prices continued to climb.. On the weekly timeframe, the RSI has moved above the 50 mark and is now moving higher towards the overbought level, indicating that bullish momentum is increasing.. The price is expected to move higher towards the previous swing high of Rs 870,
after which we might see a move towards Rs 936. On a daily closing basis, we recommend a stop-loss of Rs 760.
MARUTI SUZUKI-It has been witnessing a rangebound move since January 2021, moving between Rs 6,400 and Rs 8,353. In the week started, the prices not only broke through but also closed above the Rs 8,350 mark.. The volume buildup indicated participation in the up move.The RSI plotted on the
weekly chart is above the 50 mark, moving higher, indicating increasing bullish momentum in the markets.. If the prices manage to breach the Rs 9,600 mark, we may see further up movement towards the Rs 10,000 level. We recommend a strict stop-loss of Rs 8,200 on a daily basis.
BIOCON- Biocon
has broken out of the 6 months consolidation. Along with the breakout, the stock has also broken above the 50-week SMA resistance and formed a bullish candlestick. The RSI indicator plotted has also broken out of the range and confirms the breakout. Stock is expected to move higher towards Rs 430 and if it crosses above Rs 430, then eventually towards Rs 460 level. One should maintain a strict
stop-loss of Rs 370 on a daily closing basis for this trade.
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Tomorrow,SBI & Bank
of Baroda will announce their quarterly results.SBI is expected to
show continued strength in its operating performance,
supported by modest business growth, while Bank of Baroda is
expected to have a weak Q3 earnings report.
In SBI's case, it can benefit from modest
business growth and a gradual reduction in provisions, while BoB may see a weak
Q3 earnings show. On the other hand, an increase in bond yields could affect treasury
performance. The stock of SBI and BoB has outperformed the
benchmark Sensex, so far this year. The former has risen about
17 percent YTD, while the latter has risen by 34%.
SBI-We
expect 14% operating profit growth at Rs 19796.1 crore, driven by lower operating expenses, and 9% NII growth at Rs 31,505 crore, supported by subdued loan growth of 7%. Treasury income is likely to be lower and wage costs may not be one-offs during this quarter. Net profit is predicted at Rs 8,032.3 crores. We expect slippages at 2 per cent of loans and lower
sequential provisions at Rs 2,429.1 crores.
BOB-We expect pre-provision operating profits to decline 12% YoY to Rs 4,902.7 crore on weak revenue growth and elevated costs.We expect an
unchanged loan book as demand for credit, especially corporate, is subdued. NII
is pegged at Rs 8,048.6 crore; net profit at Rs 1,934.7 crore; and NIM at 3%.
VOLTAS FUT ACHIEVED BOTH TARGET 1228/1238
BUYING CALL GIVEN FROM 1218 BOOKED PROFIT OF 15000
TATA MOTORS FUT ACHIEVED 1ST TARGET @ 508.30
BUYING CALL GIVEN FROM 505.30 BOOKED PROFIT OF 8550
HAVELLS FUT 1ST TARGET ACHIEVED @ 1225
BUYING CALL GIVEN FROM 1215 BOOKED PROFIT OF 5000
FOR MORE LIVE MARKET TRADING TIPS WHATSAPP ON 7772909587
BUY VOLTAS FUT 2 LOTS ABOVE 1218 TG 1228/1238 SL 1207
BUY TATA MOTORS FUT 2 LOTS ABOVE 505.30 TG 508.30/511.30 SL 501.50
BUY HAVELLS FUT 2 LOTS ABOVE 1215 TG 1225/1235 SL 1204