Kya Bolta Market

Stocks Report 3rd Nov 2017

Chart of the day:

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SCRIP/INDEX: KTKBANK

CMP: Only above 169

VIEW: BULLISH

TARGET: 177/180

VIEW CHANGES IF: CLOSES BELOW 165

TIMEFRAME: 4 WEEKS

THE LOGIC: KTKBANK 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 169 LEVELS IN COMING DAYS, AND CROSSES OVER 170 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 178 AND HIGHER LEVELS IN VERY NEAR TERM. BUYING IS RECOMMENDED WITH A CLOSING BASIS STOP LOSS BELOW 165 FOR THE NEXT FEW WEEKS PERSPECTIVE.

RECOMMENDATIONS:

SCRIP           CMP Target SL
Buy      
ADANIPOWER Above 35 38/40 33.5
Sell                    
BPCL Below 533 515 543

 

The nearest support levels for the Nifty futures are:

S1 = 10420, S2 = 10380, S3 = 10340

The nearest resistance levels for the Nifty futures are:

R1 = 10500, R2 = 10530, R3 = 10560

 

The nearest support levels for the BankNifty futures are:         

S1 = 25450, S2 = 25300, S3 = 25150

The nearest resistance levels for the BankNifty futures are:

R1 =25700, R2 = 25850, R3 = 26000

                       

 

Supports or resistances written in bold indicate very important levels.