niftytrader

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Nearing channel breakout above 51. Tgt 56 Sl 48

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High volumes today but could not break out. wait for breakout abv 310 for a quick move to 350. Stops at 299

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If nifty spot breaks through 9175 it would have completed a IH&S pattern that can take it to 9400/9500. Buy above 9200 and keep stop at 9150

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Once we are able to break out of this expanding wedge, and if the external environment supports, the bears could be forced into liquidation above a level of 18200 to go to as much as 19400-19500

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With a stop below 28850, one can go long with target to fill gap about a 1000 pts higher.

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As per the chart there are two major resistances at 11617 and near 11700 that need to be crossed. Once crossed I expect All time Highs to come.

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Overall the medium term chart is still bearish having fallen from 220 to 70 levels but on short term charts it has made a good move near 80 rs One can buy it here with stops near 70 for targets of 90 rs in few days All will also depend on the small and mid cap movement in the market.

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It is a very weak chart trading within 10 pct of all time lows The china trade war is having impact on international commodity prices and hence this is getting impacted. The fall from 105 to 75 recently was very sharp and stock needs to make a base to build any longs from here. It is a sell on rise or at best avoid for long players

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Cadila Overall the medium term chart is still bearish having fallen from 560 to 200 levels but on short term charts it has made a good sort of rounding base in this 200-240 region and it now needs to break abv 247 to really catch the upward trend One can wait for the breakout and then target levels of 296 It is currently in a no trade zone

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IndusInd Bank Chart has been in a trading range for some time It has good supports at near 1300 and resistances near 1400 Right now it looks like it will break the 1400 rst and go for a tgt of 1450 1460 One should wait for it to decisively cross 1400 and then trail the longs with a 20 rs stop. NO trade zone rt now

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A weak chart Falling with the IT pack It broke through an important support at 1094 yesterday It is likely to find some supp near 1052 lvls or 1010 levels Long players will need to wait for the structure of the chart to repair It is a short on bounce stock for now. STops can be placed near the 1094 lvls

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Overall long term chart is weak short term it Has bounced well from its lows of 144 in early aug to 172 levels now It is currently in a no trade zone.. I would wait for it to go below 167 where a down move can start. With stops at 176 we can expect a new intermediate downmove to take us back to 144 possibly.

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Very strong stock has almost doubled from its bottom last september Has good support in the 280-285 region Immediate tgt looks like 312 its recent high is achievable Buy on dips with stops at 287

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Good chart in this otherwise gloomy market BEL has consolidate around 105 It remains a buy on dips with stops at 99 Abv 105 stock can move towards its intermediate tgt of 115 VERDICT : Buy on Dips

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On longer term charts sbi has broken down a very imp lvl at 279 Below 279 one should only be looking to short on every bounce Stock will likely retest and break recent lows at 266 .... keep stops at 279 This view gets negated abv 279 VIEW : look for shorts on bounce with stops 279

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DLF Has seen a sharp short cov from 137 to 164 in last 4 sessions THere is some expectations of announcement for the real estate sector later this week It is likely to remain strong and may go up to 170 or 181 levels also It can be bot with a tight stops of 156 Verdict : BUY

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TAKE a very sharp surge today It may signal a new uptrend may have started stops can be placed at 108 and one should try to go long here or on dips immidiate tgts are 128 and 134 VERDICT : A buy

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BRITANNIA Stock has run up from 2300 to 2700 in 5 sessions The results declared were not very appealing but the price move is pretty strong the stock has good supp is the 2670 region and is looking to go up to 2838 in this leg. BUY on dips