Kya Bolta Market

Stocks Report 14th Nov 2017

Chart of the day:

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SCRIP/INDEX: VGUARD

CMP: Only above 230

VIEW: BULLISH

TARGET: 240

VIEW CHANGES IF: CLOSES BELOW 224.5

TIMEFRAME: 4 WEEKS

THE LOGIC: VGUARD 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 230 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 240 AND HIGHER LEVELS IN VERY NEAR TERM. BUYING IS RECOMMENDED WITH A CLOSING BASIS STOP LOSS BELOW 224.5 FOR THE NEXT FEW WEEKS PERSPECTIVE.

RECOMMENDATIONS:

SCRIP           CMP Target SL
Buy      
AXISBANK Above 550 570 540
Sell                    
VEDL Below 306 294 311

 

The nearest support levels for the Nifty futures are:

S1 = 10180, S2 = 10130, S3 = 10060

The nearest resistance levels for the Nifty futures are:

R1 = 10280, 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.