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Thursday, August 27, 2015

Update on Nifty and Stock Specific.......











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Nifty Future… Not able to breach its resistance level of 7941 and slipped again. Think about stop loss and target levels. Below 7860 our target was 7823---7769. It made a low of 7785.10 and settled at 7787.30 at close trade

 Bank Nifty too… Not able to breach its resistance level of 17300 and slipped again. Below 17076 our target was 16928---16876. It made a low of 16875.25 and settled at 16901 at close trade

Our BTST in Coal India proven great and booked full profit around 360


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India stocks were lower after the close on Wednesday, as losses in the Banking, Green Energy and Healthcare sectors led shares lower. At the close in Nifty declined 1.13% while the Sensex lost 1.22%. The best performers of the session were BHEL which rose 3.96% at the close. Meanwhile, Cairn added 3.10% and Tata Power was up 2.91% in late trade. The worst performers of the session were Ambuja cements which fell 4.53% at the close. Tech Mahindra declined 3.92% and HDFC was down 3.77% Rising stocks outnumbered declining ones on the India National Stock Exchange by 723 to 692 and 8 ended unchanged; on the Bombay Stock Exchange, 375 rose and 363 declined, while 7 ended unchanged. The India VIX, which measures the implied volatility of S&P CNX Nifty options, was down 4.96% to 25.5150.



Now what to expect today.... 



Nifty future... Below 7760 once again we will expect Nifty future to turn in to red and likely to test 7748---7723 and then to 7660 mark. More and more weakness will see only close below 7660 level else it could test its resistance level of 7828 and then to 7860---7905---7941 again



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Above 7941, we will see rally in Nifty future till 7983 and then to 8013---8028 mark. More power will expect only close above 8028 mark



 
What to do in Bank nifty today...




Bank Nifty future…. Below 16860 once again we will expect Bank Nifty future to turn in to red and likely to test 16779--- 16683 and then to 16580 mark. More and more weakness will see only close below 16580 level else it could test its resistance level of 17076 and then to 17226 again


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Above 17226, we will see rally in till 17383--17497 and then to 17773 mark. More power will expect only close above 17773 mark




Today's Pick




  
Bajaj Auto… Today Bajaj Auto traded with positive bias and made a high of 2268.50 and settled at 2238 as of last trade



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Looks positive and could test its hurdle level of 2270. Once cross and sustain above 2270 will see further upside rally till 2320---2345+ mark in days to come


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Our 2nd Pick



Coal India.. We recommended buying around 352. It made a high of 362 in yesterday’s trading session and settled at 358 as of last trade



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Still looks positive and could test 367. Once cross and sustain above 367 will see further upside rally till 378---385+ mark in days to come

Support seen at 348










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