Kya Bolta Market

Stocks Report 13th Nov 2017

Chart of the day:

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SCRIP/INDEX: CESC

CMP: Only above 1018

VIEW: BULLISH

TARGET: 1060

VIEW CHANGES IF: CLOSES BELOW 998

TIMEFRAME: 4 WEEKS

THE LOGIC: CESC 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 1018 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 1060 AND HIGHER LEVELS IN VERY NEAR TERM. BUYING IS RECOMMENDED WITH A CLOSING BASIS STOP LOSS BELOW 998 FOR THE NEXT FEW WEEKS PERSPECTIVE.

RECOMMENDATIONS:

SCRIP           CMP Target SL
Buy      
TCS Above 2760 2810 2710
Sell                    
INFRATEL Below 411 395 420

 

The nearest support levels for the Nifty futures are:

S1 = 10200, S2 = 10150, S3 = 10100

The nearest resistance levels for the Nifty futures are:

R1 = 10300, R2 = 10340, R3 = 10380

 

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 =25600, R2 = 25800, R3 = 26900

           

           

Supports or resistances written in bold indicate very important levels.