Kya Bolta Market

Stocks Report 2nd Nov 2017

Chart of the day:

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SCRIP/INDEX: JISLJALEQS

CMP: Only above 108

VIEW: BULLISH

TARGET: 114/117

VIEW CHANGES IF: CLOSES BELOW 105

TIMEFRAME: 4 WEEKS

THE LOGIC: JAIN IRRIGATION (JISLJALEQS) 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 108-109 LEVELS IN COMING DAYS, AND CROSSES OVER 110 LEVELS NEW HIGHS MAY BE SEEN. THE OVERALL STRUCTURE OF THE SCRIP IS IN BUY MODE NOW AND IS HINTING AT A FURTHER UPTREND TOAWRDS 120 AND HIGHER LEVELS IN VERY NEAR TERM. BUYING IS RECOMMENDED WITH A CLOSING BASIS STOP LOSS BELOW 105 FOR THE NEXT FEW WEEKS PERSPECTIVE. AGGRESSIVE PLAYERS CAN HOLS WITH A STOPLOSS OF 102 FOR 124 LEVELS ALSO.

RECOMMENDATIONS:

SCRIP           CMP Target SL
Buy      
M&MFIN Above 438 458 429
Sell                    
HEROMOTOCO Below 3718 3610 3770

 

The nearest support levels for the Nifty futures are:

S1 = 10400, S2 = 10360, S3 = 10300

The nearest resistance levels for the Nifty futures are:

R1 = 10480, R2 = 10530, R3 = 10560

 

The nearest support levels for the BankNifty futures are:         

S1 = 25350, S2 = 25200, S3 = 25000

The nearest resistance levels for the BankNifty futures are:

R1 =25620, R2 = 25750, R3 = 25900

           

           

Supports or resistances written in bold indicate very important levels.