Kya Bolta Market

Stocks Report 6th Nov 2017

Chart of the day:

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SCRIP/INDEX: CONCOR

CMP: Only above 1395

VIEW: BULLISH

TARGET: 1450/1470

VIEW CHANGES IF: CLOSES BELOW 1370

TIMEFRAME: 4 WEEKS

THE LOGIC: CONCOR 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 1400 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 1470 AND HIGHER LEVELS IN VERY NEAR TERM. BUYING IS RECOMMENDED WITH A CLOSING BASIS STOP LOSS BELOW 1370 FOR THE NEXT FEW WEEKS PERSPECTIVE.

RECOMMENDATIONS:

SCRIP           CMP Target SL
Buy      
IRB Above 246 256 241
Sell                    
ZEEL Below 525 500 535

 

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.