Nifty 8917/Sensex 28926/Bank Nifty 20406
20 Advances /29 Declines/0 Unchanged
Sensex, Nifty snap 2-day rally; PSU Bank up 3%, BHEL zooms 15%
BHEL, SBI, ONGC, ICICI Bank and Tata Steel were top gainers while Asian Paints, HDFC, Axis Bank, NTPC and GAIL were losers in the Sensex.
This was obvious some profit booking session after a two day rally as market went in small correction yesterday forming a Bearish belt hold pattern. This suggests that still buying on dips should be the strategy for the coming days.
Investors also digested the likely delay in Fed rate hike due to weak US economic data. Indices had rallied 2 percent in previous two consecutive trading sessions.
FIIs bought more than Rs 1,400 crore worth of shares in previous session.
The 30-share BSE Sensex was down 51.66 points at 28,926.36 after hovering in a range of 29,067-28,911. The 50-share NSE Nifty lost 25.05 points to 8917.95.
Today's Results Awaited
EROSMEDIA
FINANTECH
JINDALSTEL
SAIL
TVTODAY
VENKYS
Our Marathon continues as we continue to bring profit in our client’s pockets.
We booked full profit in PNB future around 136, it was recommended to buy above 130.50
Full profit was booked in SBI future around 268 and it was recommended to buy around 258.
Our options recommendation proved great as well and we booked full profit in Century Textile around premium: 53 and it was recommended to buy around premium:22--20 . Lot Size 1100.
Another part profit was booked in Tata Steel 390 CE around premium: 16 and it was recommended to buy around premium: 11.
Not only this, we booked full profit in Exide 190 CE around 7.35—8. And it was advised to buy around 4.80.
Still need trials, Our recommendations speak for themselves!!
Now what to expect next??
Nifty and Bank Nifty futures
Nifty went into profit booking after giving a good rally in the morning. Now it has an immediate support at 894 and if this level is broken then next support of 8880 could be tested.
Next hurdle is at 8990, and once this level is crossed we will be definitely testing 9050—9100 levels.
We are holding from lower 8400 for a target of 9100 and have been notifying you through almost all blog posts and very soon we will be testing this level.
Bank nifty also seems positive and nearest hurdle is at 20650 and a move above this level will make it to test its pivot of 20760. A close above this level is needed to test the previous highs of bank nifty around the levels of 20800—20900.
Till then keep following our levels and keep minting money.
Today's Top Pick
Coal India trading close to support level of 326. Break and sustain above 333 will see sharp upside move in it.
Target looks 338---343+ mark.
Fresh selling can initiate only close below 326
