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NIFTY FUTURE
TOP GAINERS:
SSLT BY 3.49%
IDFC BY 2.95%
Call: SHORT
CMP: 8325.9
Initiation Level: 8430
Book Profit (Level 1):
8380
Book Profit (Level 2):
8300
Stop Loss: 8470
Conviction Leve;
moderate risk
Reasoning
CONSOLIDATE ON
LT BY 2.11%
BHEL BY 1.95%
HDFCBANK BY 1.63%
TOP LOSERS:
HDFC BY 2.18%
KOTAKBANK BY 2.09%
HINDALCO BY 2.02%
SUNPHARMA BY 1.91%
ONGC BY 1.27%
LEVEL
Short term Trend:
DOWN
Medium Term Trend:
CONSOLIDATION
For the Traders: SHORT
For Aggressive Traders:
SELL
Support: 8365-8180
Resistance-8570
Duration:4-5 Days
Technical commentary
Today nifty ware consolidates and trade at level of previous high made new high of 8454.5, in morning
session nifty ware in upward touches 8454.5, then corrected to 8407.25, And close at 8424.90.
Indicators MADC and RSI are in over bought zone so nifty should short on rise to 8300.
Basin on indicators and pattern it should correct till range 8300-8250.
So recommendation for nifty to sell on rise to 8380,8300 sl 8470.
PNB BY
Stock: BANKNIFTY
Call: short
Initiation Level: 17640
Book Profit (Level 1):
17550
1.42%
CANBANK BY 0.92%
YESBANK BY 0.57%
ICICIBANK BY 0.44%
TOP LOSERS:
Reasoning: consolidate.
KOTAKBANK BY
2.09%
AXISBANKBY
1.65%
BANKBARODA BY
0.39%
INDUSINDBANK BY
0.38%
FEDRALBANK BY
sell
Support: 17000-16790
0.35%
Technical commentary
Today banknifty ware consolidates and trade at level of previous high made new high of 17747, in morning
session nifty ware in upward touches 17794.9, then corrected to 17686, And close at 17751.
Indicators MADC and RSI are in over bought zone so Banknifty should short on rise to 17400.
Basin on indicators and pattern it should correct till range 17500-17300.
So recommendation for Banknifty to sell on rise to 17550-17400 sl .17820
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