Kya Bolta Market

Stocks Report 7th Nov 2017

Chart of the day:

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SCRIP/INDEX: TATAELXSI

CMP: Only above 873

VIEW: BULLISH

TARGET: 910

VIEW CHANGES IF: CLOSES BELOW 858

TIMEFRAME: 4 WEEKS

THE LOGIC: TATAELXSI 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 875 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 910 AND HIGHER LEVELS IN VERY NEAR TERM. BUYING IS RECOMMENDED WITH A CLOSING BASIS STOP LOSS BELOW 858 FOR THE NEXT FEW WEEKS PERSPECTIVE.

RECOMMENDATIONS:

SCRIP           CMP Target SL
Buy      
PETRONET Above 264 274 259
Sell                    
CIPLA Below 605 585 615

 

The nearest support levels for the Nifty futures are:

S1 = 10320, S2 = 10280, S3 = 10240

The nearest resistance levels for the Nifty futures are:

R1 = 10400, R2 = 10450, R3 = 10480

 

The nearest support levels for the BankNifty futures are:         

S1 = 25300, S2 = 25150, S3 = 25050

The nearest resistance levels for the BankNifty futures are:

R1 =25600, R2 = 25800, R3 = 26000

                       

 

Supports or resistances written in bold indicate very important levels.