Kya Bolta Market

Stocks Report 10th Nov 2017

Chart of the day:

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SCRIP/INDEX: LT

CMP: Only above 1274

VIEW: BULLISH

TARGET: 1340

VIEW CHANGES IF: CLOSES BELOW 1245

TIMEFRAME: 4 WEEKS

THE LOGIC: LT IS LOOKING POSITIVE ON WEEKLY CHARTS AS THE STOCK HAS GIVEN A STRONG BREAKOUT AND THE PATTERN LOOKS VERY STRONG TO TEST NEW HIGHS, AND IF IT MANAGES TO HOLD ABOVE 1275 LEVELS IN COMING DAYS, NEW HIGHS MAY BE SEEN. THE OVERALL STRUCTURE OF THE SCRIP IS IN BUY MODE NOW AND IS HINTING AT A FURTHER UPTREND TOAWRDS 1350 AND HIGHER LEVELS IN VERY NEAR TERM. BUYING IS RECOMMENDED WITH A CLOSING BASIS STOP LOSS BELOW 1245 FOR THE NEXT FEW WEEKS PERSPECTIVE.

RECOMMENDATIONS:

SCRIP           CMP Target SL
Buy      
GODFRYPHLP Above 1042 1085 1020
Sell                    
BPCL Below 511 490 522

 

The nearest support levels for the Nifty futures are:

S1 = 10310, S2 = 10275, S3 = 10240

The nearest resistance levels for the Nifty futures are:

R1 = 10390, R2 = 10430, R3 = 10460

 

The nearest support levels for the BankNifty futures are:         

S1 = 25350, S2 = 25200, S3 = 25050

The nearest resistance levels for the BankNifty futures are:

R1 =25650, R2 = 25800, R3 = 26900

                       

 

Supports or resistances written in bold indicate very important levels.