Kya Bolta Market

Stocks Report 9th Nov 2017

Chart of the day:

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SCRIP/INDEX: VGUARD

CMP: Only above 233

VIEW: BULLISH

TARGET: 243/246

VIEW CHANGES IF: CLOSES BELOW 228

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 233 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 245 AND HIGHER LEVELS IN VERY NEAR TERM. BUYING IS RECOMMENDED WITH A CLOSING BASIS STOP LOSS BELOW 228 FOR THE NEXT FEW WEEKS PERSPECTIVE.

RECOMMENDATIONS:

SCRIP           CMP Target SL
Buy      
ASIANPAINT Above 1198 1250 1174
Sell                    
ITC Below 259 249 264

 

The nearest support levels for the Nifty futures are:

S1 = 10340, S2 = 10300, S3 = 10260

The nearest resistance levels for the Nifty futures are:

R1 = 10390, R2 = 10430, R3 = 10460

 

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 =25500, R2 = 25600, R3 = 26800

           

           

Supports or resistances written in bold indicate very important levels.