Monday, December 19, 2016

EQUITY MARKET OF WEEK

In INDIAN EQUITY market, today NIFTY given close with red note around 8139, with -14 points, due to weak global sentiments, today we saw in morning session it open with positive note around 8178 and after opening levels it made a high of 8178 same as opening levels but it not sustaining there facing selling pressure it slip down and whole day it traded within very small range with low volume, it made a low of 8127, and end of day given close around 8139 with red note, showing weakness but now it traded near to support levels if it close below 8120 then downside it will be test 8100-8070 also keep close watch on these levels with some positive global news pull back also possible so be cautious on every levels either side move possible
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IT SECTOR


TCS
This weekly TCS this week it given close around 2283, with bullish candle this week it made a high of 2288, low of 2166+ buy on decline strategy don’t go for aggressive short side it has one resistance around 2320-2330 when it close above these levels then fresh upside move possible keep close watch.
WIPRO
In weekly chart of WIPRO close around 464+, with green candle, in weekly chart it traded within range of 475-453 when it close above or below this range then fresh breakout possible so keep close watch on these levels
HCLTECH
In weekly chart of HCLTECH, given close around 822, with green candle, now it traded near to breakout levels if it closes above 845-847 then fresh upside move possible buy on decline strategy.

AUTO SECTOR
TATA MOTORS
TATAMOTORS this week given close around 472, with green candle, it taken good support of 440+ buy on decline with same stop loss upside it will be test 480-500+ soon don’t go for aggressive short side.
BAJAJ-AUTO
BAJAJ-AUTO this week close around 2663, with red note this week it made a low of 2636, overall trend is bearish it facing resistance around 2780+ fresh move above only 2780 otherwise buy on decline it has support around 2600 watch out.

HEROMOTO CORP
HEROMOTO CORP this week given close around 3135 with red candle, this week it facing resistance around 3270 downside it has good support around 3100 keep watch out more downfall possible.
METAL SECTOR

TATASTEEL           
 TATASTEEL this week given close around 415 with red note, it again facing resistance around 432+ sell on rise with same stop loss downside it will be test again 410-405 again watch out fresh upside move above only 432 on closing basis.

HINDALCO
 HINDALCO this week given close around 170.7+, with bearish candle due to profit booking on higher levels, last 4 weeks it traded within range of 183-166 when it close above or below the either side move possible watch out.

VEDL
VEDL this week it given close around 231 with bearish candle due to profit booking on higher levels, some more downfall possible here it will be test 224 again it’s good support zone also so sell on rise for trading purpose.

OIL & GAS SECTOR

RELIANCE
Reliance industries this week it given close around 1058 with green note, this week it given fresh breakout above 1040+ buy on decline, upside it will be test 1080+ levels and more keep close watch given levels good support around 1040. Below 1040 don’t hold your long position.

ONGC
ONGC this week given close around 202, with red candle, it continue follow the upside trend buy on decline only don’t go or short side upside it will be test 220-224 also in upcoming sessions it has good support around 195 on closing basis.

CAIRN
CAIRN INDIA this week given close around 256 with red candle due to profit booking, but overall trend is bullish so buy on decline strategy it has good support around 245-246 watch out.

GAIL
GAIL in this weekly close with bearish candle around 415, this week it made a low of 411.7 it’s good support zone, if it sustaining above 440 then upside fresh move possible, otherwise sideways or range bound trade possible.

BPCL
BPCL this week given close around 611, with red candle this week it made a high of 633.9, overall trend is bullish buy on decline only don’t go for aggressive short side use any downfall for buying upside it will be test new 52 weeks high again
BANKING/ FINANCE SECTOR
SBIN
SBIN in this week given close around 264.7+ with red candle, this week it made low of 259.6, it taken good support again 254 levels, buy on decline strategy upside it will be test 275-277 don’t go for aggressive short side.

ICICIBANK
In weekly chart ICICIBANK given close with bearish  candle around 256, last 3-4 weeks it traded within range of 251-270 when it close or above this range then either side move possible downside it will be test 240 also when it close below 251.

AXIS BANK
AXIS BANK in weekly chart given close with bullish candle around 472.9, this week it given first sign for worst is over now, buy on decline strategy for short term with stop loss of 440 below on close upside it will be test 500+ levels.

BANK OF BARODA

BANK OF BARODA this week given close around 159.9 with red note, but this week it not performed well it made a low of 156.4, but taken good support buying opportunity here with same stop loss on closing upside it will be test again 168-172 also watch out.

1 comment:

  1. • TVS Motor Feb 2017 domestic sales decline 6% YoY
    • Hero Motocorp February 2017 sales at 524,766 unit
    • Bajaj Auto February 2017 Sales flat on a YoY basis
    CapitalStars

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