As told in our last post to look for 10800-10850 in coming 30 sessions, we already saw it on Friday when Nifty posted low of 10848.85
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Reliance Ind is having support at 1186-1190 zone. If counter touches this level and bounces back abv 1205 then it can be bought with stop loss of low for target 1240-1260.
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Global and Indian economy are in doldrums. US economic data have improved but GDP growth in Q2 is expected to fall in between 1.3-1
8% on annualised basis from 1st qtr growth rate of 3.3%. Core capital goods and jobless claims reading for June have improved.Trade deficit has narrowed on account of fall in both import and export. FED is expected to reduce rate by...
Nifty has formed H&S on daily chart. After the breakout , index has again come to touch Neckline. Daily close abv 11750 would negate the view. We had drawn 2 support lines as we were cluelesss that from which line index will take support. It has taken support from the steeper trend line. Let's see what happen in coming days.
11735 is BB mid line...
Sell CESC on rise at 790 & 798 SL 86 TGT 770-750.
Negative divergence on RSI chart with today's candle closing making Doji candle with long wick on upside is confirming the bearish bias. Volume on today's candle is very high. 806-811 is supply zone which is portrayed through pink line.
MOIL is trading in parallel channel. Breakout will be above 160 but we'll wait for daily close above 165 to confirm reversal and formation of higher top. Above 165 target would be 200 with SL below 150 .
RSI and CCI is confirming direction of the trend.
Tata Power looks bullish 69 (daily con close above 75. Volume in upmove is good after posting double bottom. Above 75 next 1st target would be 85 with sl below 68 (closing)
RSI and CCI are showing positive moementum
BUY LAURUS LABS AT CMP 347.50 SL 336 TGT 370.
HORIZONTAL ORANGE LINE SHOWS SUPPORT AND DOUBLE BOTTOM. TODAY'S CLOSE ABOVE NECKLINE OF HEAD & SHOULDER SUPPORTED BY RSI & CCI CROSSOVER AND VOLUME IS GIVING SUPPORT TO OUR VIEW. RALLY CAN EXTEND TILL 400 PROVIDED 328 IS HOLD ON CLOSING BASIS.