Friday, December 19, 2014

Nifty continues the strong momentum buying, Bulls takes the charge...

Market outlook logo 26th logo

Greetings,

Nifty continues the strong momentum buying, Bulls takes the charge...

Global Market Update:-
 U.S. stocks carried Wednesday's gains into a strong rally on Thursday as investors continued to applaud the Federal Reserve's commitment to be patient when deciding when to hike interest rates.
At the close of U.S. trading, the Dow 30 rose 2.43%, the S&P 500 index rose 2.40%, while the Nasdaq Composite index rose 2.24%.
 The Federal Reserve said on Wednesday it was leaving its benchmark interest rate unchanged at 0.00-0.25% and added it will exercise patience when raising interest rates to make sure the economy continues to improve.In past statements, the Fed said it would take "considerable time" to make sure recovery is underway before tightening policy.
The Fed's language sparked a massive rally on Wall Street by fueling expectations that borrowing costs will remain low for some time to come while economic fundamentals continue to improve and bolster corporate top and bottom lines.Upbeat data out of the labor market drew applause as well.

Indian Market Update:-
Fed statement cheers the markets across the world and Indian markets also witnessed the run away rally and in addition cabinet clears the GST bill which will be presented in the parliament soon. Sensex managed to close the day above 27000 at 27126 up 416 points and Nifty ends the day at 8160 up 129 points.

Going forward the global and Indian markets to trade higher as the fed has set the tone for the markets and all the markets around the world are bottomed out and running back to enjoy the December rally. the strong support for Nifty comes at 8030 and resistance above 8180. Now the markets again should manage to move towards the historical highs.

Cash Pick:-
Recommendation: BUY BGRENERGY
CMP: 156
Target: 175
Stop loss: 150
Time duration: 2 WEEKS
Technical view:-
BGR ENERGY has formed a perfect morning star pattern on the daily charts confirming the reversal in the trend and stock has closed with island gap up with bullish engulfing candle stick trading comfortably above the key moving averages should take the stock to at least 175 zone in coming weeks.
DERIVATIVE PICK:-
Recommendation: BUY CANBANK
CMP: 435
Target: 498
Stop loss: 425
Time duration: 3 Weeks

Technical view:-
Stock has a broken a strong resistance zone keeping itself above the rising trend line and broken a inverted head and shoulder pattern neckline and the stock is ready to outperform the markets with candle making a reversal pattern of bullish engulfing with a RSI and MACD indicating the bullish cross over signifies the strong buy in the stock.

Conclusion:-
Winning streak to continue...


[for detail report call  @ 09066326165] 





DISCLAIMER: Neither the information nor any opinion expressed constitutes an offer, or any invitation to make an offer, to buy or sell any securities or any options, futures nor other derivatives related to such securities ("related investments"). Investors/traders should do their due diligence before taking any action based on our analysis. Stoplosstrade.com or any of its associates or employees does not accept any liability whatsoever direct or indirect that may arise from the use of the information herein.

Thursday, December 18, 2014

Nifty Manages to hold the 100 DMA and the Fed policy to fuel the Indian markets in today’s trade...




Market outlook logo 26th logo

Greetings,

Nifty Manages to hold the 100 DMA and the Fed policy to fuel the Indian markets in today’s trade...

Global Market Update:-
U.S. stocks shot up on Wednesday after the Federal Reserve said it would be patient when deciding when to hike interest rates, with firming oil prices giving stocks a shot in the arm as well.At the close of U.S. trading, the Dow 30 rose 1.69%, the S&P 500 index rose 2.04%, while the Nasdaq Composite index rose 2.12%.
The Federal Reserve said earlier it was leaving its benchmark interest rate unchanged at 0.00-0.25% and added it will exercise patience when raising interest rates to make sure the economy continues to improve.In past statements, the Fed said it would take "considerable time" to make sure recovery is underway before tightening policy.In Wednesday's statement, the Fed left in the dovish phrase, though the context of the language suggested that the "considerable time" wordage applied to past statements, leaving markets to conclude that rate hikes are on the way though monetary authorities will be "patient" when actingThe Fed's language fueled a rally on Wall Street.

Indian Market Update:-
Though the Indian markets witnessed the selling pressure early in the session managed to recover from its lows and closed once again at the strong support levels of 100 DMA and today tracking the Fed policy meet Indian markets to open with a huge gap up and will be run away rally.
It is bottom out for the US markets and well positioned to initiate long positions in the oversold counters and so with the  Indian markets. Now the strong support for the Indian markets comes at 8030 levels and resistance only above 8180 levels before breaking the resistance zone may see bit of a consolidation between these levels.

Cash Pick:-
Recommendation: BUY KPIT
CMP: 192
Target: 215
Stop loss: 180
Time duration: 2 WEEKS
Technical view:-
KPIT is well managed to keep its support zone of a rising trend line and once again managed to break the resistance level on the upside with a huge volumes on daily charts with the bullish engulfing candle stick pattern with RSI trending in a bullish zone confirms the stocks upward momentum intact.

DERIVATIVE PICK:-
Recommendation: BUY ORIENTBANK
CMP: 308
Target: 350
Stop loss: 300
Time duration: 2 Weeks
Technical view:-
Stock has a strong support zone of the rising trend line and broken a inverted head and shoulder pattern neckline and the stock is ready to outperform the markets with candle making a reversal pattern of bullish engulfing with a RSI and MACD indicating the bullish cross over signifies the strong buy in the stock.

Conclusion:-
Markets to bounce sharply it wiln be a run away rally...


[for detail report call  @ 09066326165] 





DISCLAIMER: Neither the information nor any opinion expressed constitutes an offer, or any invitation to make an offer, to buy or sell any securities or any options, futures nor other derivatives related to such securities ("related investments"). Investors/traders should do their due diligence before taking any action based on our analysis. Stoplosstrade.com or any of its associates or employees does not accept any liability whatsoever direct or indirect that may arise from the use of the information herein.

Tuesday, December 16, 2014

Indian Markets again to open in a negative note but chances of bouncing to positive in the second session looks most likely...

Market outlook logo 26th logo

Greetings,

Indian Markets again to open in a negative note but chances of bouncing to positive in the second session looks most likely...

Global Market Update:-
Falling oil prices sent U.S. stocks falling on Monday in a volatile session with hopes for more discretionary spending giving stocks a boost, though concerns cheaper crude stems from a cooling global economy sent equities falling at the closing bell. At the close of U.S. trading, the Dow fell 0.58%, the S&P fell 0.63%, while the Nasdaq Composite  fell 1.04%. Oil prices have fallen in recent months on concerns that supply far outstrips demand, and a recent OPEC decision to leave output unchanged has exacerbated losses.
The United Arab Emirates said earlier that OPEC will stand by its recent decision not to trim output to shore up slumping oil prices, news that sent crude futures plunging on Monday. While cheaper gasoline prices may give U.S. consumers more discretionary income for holiday shopping, stocks fell on concerns that falling oil prices are also the product of a cooler global economy, which rattled nerves on Wall Street. Mixed U.S. data added to Monday's volatility.

Indian Market Update:-
As the Markets enters the last level of support on Nifty which comes around 8150-8180 levels saw the huge buying momentum on the index and managed to thin the losses with ending in bit of a Negative with Sensex closing the day at 27319 down 31 points and Nifty closing the day at 8219 down 4 points
Going ahead, the Indian and Global markets should give a good bounce from the corrective face and the Buying momentum should be initiated from these levels and Good time for the new investors to enter the market. Now the buying confirmation for Nifty only seen above 8300 level and strong zone of support coming at 8150 levels.Again today the Nifty to test the important zone of 8180 and can rebound.

Cash Pick:-
Recommendation: BUY CEATLTD
CMP: 890
Target: 1000
Stop loss: 840
Time duration: 2 WEEKS
Technical view:-
CEAT has given a strong break out above the trend line and managed to close above the strong resistance zone above forming the harami bullish with bullish engulfing candle stick pattern and moving in a rising trend line. Other technical indicators showing a bullish momentum intact is a good buy.

DERIVATIVE PICK:-
Recommendation: BUY TVSMOTOR
CMP: 258.5
Target: 275
Stop loss: 245
Time duration: 2 Weeks
Technical view:-
Stock is moving in a clear rising trend line now given a strong upside break out with huge build up in open interest with closing above the resistance levels and now trades above all the key moving averages will confirm the buying in the stock with RSI entering the bull zone gives more confidence to stock move higher

Conclusion:-
Markets have given good correction and right time to take long positions...

[for detail report call  @ 09066326165] 





DISCLAIMER: Neither the information nor any opinion expressed constitutes an offer, or any invitation to make an offer, to buy or sell any securities or any options, futures nor other derivatives related to such securities ("related investments"). Investors/traders should do their due diligence before taking any action based on our analysis. Stoplosstrade.com or any of its associates or employees does not accept any liability whatsoever direct or indirect that may arise from the use of the information herein.

Saturday, December 13, 2014

Markets to see the bounce back any time soon Next week Buying will trigger at around 8150-8180 levels...

weekly outlook logo

Greetings,

Markets to see the bounce back any time soon Next week Buying will trigger at around 8150-8180 levels...

WEEKLY WIND UP:-
Global stock markets were seen falling this week amid political uncertainty in Greece which raised the concerns in euro zone economy. The Greek stock market plunged to 13 per cent on a single day – the biggest tumble since December 1987. On the other hand, The US dollar index hit an 8 year high after a strong set of data from US. The US economy had added 321K jobs against 243k jobs previous month. The US dollar also surged after the release of better than expected retail sales data from the US economy. The US retail sales grew by 0.7% against the expectation of 0.4%.The crude oil prices were seen falling to new 5-year low levels this week as OPEC cut the demand forecast of its oil. The demand forecasted by OPEC in 2015 is close to its 12 year low levels. The Crude oil prices came under further pressure as US crude oil inventory raised from its previous week levels.
The week under report started on a weak note and under global woes post falling crude prices, and kept sliding with mega losses except mid week minor gains and ultimately closed with a biggest weekly fall in last three years. While global woes kept a tab on the general sentiment, local factors like delayed reforms, chaos at Parliament on certain political matter stalling bill passage did the damage. Although hike in FDI for insurance and other bills cleared, market failed to respond as rate cut hopes were belied and Rupee continued to slide to see a level of Rs. 62.50 a dollar and thus overshadowed slide in crude oil prices that marked new recent lows. Market broke expected bottoms for a while spreading fear for continuation of bloodbath. In a dull week, BSE Sensex and NSE Nifty moved in the range of 28494.85- 27320.05 and 8546.35-8216.30 respectively.
Markets opened on Monday on a poor note and continued to drift lower on profit bookings at every rise. BSE Sensex lost 338.70 points to close at 28119.40 and NSE Nifty too mirrored similar sentiment and marked deficit of 100.05 points to end the day at 8438.25. Fear of rate hike in US prompted FII hammering and selling of stake by promoter's of Infosys had a cascading impact despite FIIs turning net buyers. Banking, Auto, Power, Metal, Capital Goods counters too eased on profit bookings. Crude Oil marked last five year's low of 67$ a barrel. Firm Dollar failed to boost sentiment for IT counters as US job data witnessed improvement.
On Tuesday markets opened on a firm note but soon turned weak and marked another negative day. BSE Sensex marked fall of 322.39 points to end the day at 27797.01 and NSE Nifty lost 97.55 points to close at 8340.70. Meltdown in Asian markets kept all on selling spree with heavy weights and Mid-Small cap counters sliding freely. All out selling from operators, FIIs, DIIs kept market on a free fall mode and created panic in the market. Metal, Capital Goods, Power took the lead for doom
With poor opening on Wednesday indices traded in a range bound manner to close the day with minor gains. BSE Sensex scored mere 34.09 points to close at 27831.10 and NSE Nifty gained just 14.95 points to end the day at 8355.65. Short coverings in Consumer Durables, Banking helped indices to recover from the low of the day and to close in green. Government clearing 49% FDI for Insurance sector helped select bank counters to surge. Mid and Small cap select counters witnessed value buying from Fund houses and HNIs. Capital Goods, Power counters eased due to profit bookings. Aanchal Ispat got listed on BSE SME and closed with minor premium to offer price.
On Thursday again markets opened on a poor note and continued to slide on heavy selloffs. BSE Sensex marked loss of 229.09 points to end the day at 27602.01 and NSE Nifty fell by 62.75 points to close at 8292.90. Rupee eased against Dollar to mark Rs. 62.30 a dollar and Crude too eased below 65$ a barrel. But market witnessed selling on global woes with selling on Oil and Gas, IT, Auto counters. RIL took the lead of doom and got support from Tata Steel etc. Mid and Small cap counters too witnessed hammering. Kuber Kamal turned ex-bonus (3 for 1). Captain Pipes got listed on BSE SME and closed at a minor discount to offer price. On Friday too markets opened on a dull note and closed with losses to end the week with biggest weekly fall. BSE Sensex lost 251.33 points to close at 27350.68 and NSE Nifty mirroring similar trends marked deficit ofN68.80 points to end the day at 8224.10. RIL and TCS lead the doom for the market as they plunged heavily in the day. Surge in healthcare counters arrested big fall in indices. PSU OMC counters firmed up as crude kept sliding to mark recent new low of 59$ a barrel. Hikal surged on stock split report. Weak China data prompted selling on metal counters. Euro zone worries prevailed and kept a tab on general market sentiment globally. Anubhav Infra got listed on BSE SME and closed at a discount to offer price. Delton Cable announced bonus in the ratio of 2 shares for every 1 share held.
Thus in a bloodbath week, Sensex and Nifty marked net weekly loss of 1107.42 and 314.20 points respectively. Thus the second negative week turned dull. Falling Crude prices and weakening Rupee continued its impact on the market sentiment as usual. Market was eyeing IIP and inflation data that was set for announcement on Friday eve post closer of markets. As IIP for October was at -4.2% v/s 2.5% expected. CPI inflation at new low of 4.38 per cent might prompt market for expecting rate cut from RBI and thus may arrest prevalent dull mood. Thus market may see mixed reaction for these announcements. WPI data is also round the corner. Under the given scenario, BSE Sensex may move in the range of 28250-26550 and NSE Nifty between 8500-8100.
 WEEKLY OUTLOOK:-
Going ahead, the Global markets will be keenly awaiting the outcome of the FOMC Meet, scheduled mid of the next week. In the previous meet US FED has said that unemployment and inflation numbers from the US economy will guide its policy henceforth. Non-farm payroll data and retail sales numbers have overshoot the forecast by large margins indicating a solid recovery in the US markets. Bank of Japan is expected to keep its monetary policy stance unchanged with infusion of 80 trillion yen per month.
Bank of England will release the stress test of UK’s eight leading banks. The UK’s central bank has considered extreme financial conditions coupled with 4% interest rate by the end of 2015. On the domestic front, India’s WPI inflation numbers, which are scheduled to release early next week, are expected to remain under RBI targets. The slowing inflation due to falling crude oil prices will put further pressure on the Central Bank to revise its key lending rates. The momentum in USDINR pair has taken a resistance near 62.40-50 levels and the pair closed the week at 62.29 levels. Only if the pair is able to consistently sustain and close above this resistance we might see further upside moment in the currency

 TECHNICAL OUTLOOK:-
Sensex opened the week at 28433, made a high of 28494, low of 27320 and closed the week at 27350. Thus it closed the week with a big loss of 1108 points. At the same time the Nifty opened the week at 8538, made a high of 8546, low of 8216 and closed the week at 8224. Thus the Nifty closed the week with a loss of 314 points. On the daily charts, both the indices have formed a big black body candle whereas on the weekly chart both the indices have formed a big black body candle almost like a Closing Marubuzo. Both the daily as well as the weekly chart have formation of a Tweezer Top which is a bearish reversal pattern. It will get negated only when Sensex closes above 28822 and Nifty above 8626. On the daily charts, the Tweezer top was followed by Three Black Crows formation. Thus daily as well as weekly charts suggest bearishness to continue in the near term. Nifty 8100 is a critical level, not only it is a strong Trendline support level, but also a Bearish Rising Wedge pattern completion level. We will check the targets only when it gets taken out. Till then the Nifty is likely to test the Support zone between 8198-8175 followed by the above mentioned Trendline support levels which are at Sensex 27180 and Nifty 8100. Correction levels as per Fibonacci Retracement theory remains 27710-27366-27023 for the Sensex and 8281-81758068 for the Nifty.

Nifty charts
MACD and Price ROC both continue with their Sell signals. RSI has dropped below the centreline suggesting bearish momentum. Stochastic Oscillator too continues in Sell mode as %K is below %D. Also the MFI has fallen below the equilibrium line to 37 which suggest money flowing out. ADX has fallen to 29, which indicates that the uptrend has lost some of its strength. Direction Indicators too are in Sell mode as +DI has gone below -DI. Bollinger Band has given a Sell signal on Thursday when price closed below the lower Band. Majority of the Oscillators have turned bearish while MACD and RSI are exhibiting negative divergence. Both the indices continue have closed below the short term average of 20dma (Sensex – 28215 and Nifty - 8452) but Nifty has managed to stay just above the medium term average of 50dma whereas the Sensex has closed below it 50dma (Sensex - 27469 and Nifty - 8216). But both Sensex and Nifty continue to remain well above the long term average of 200dma (Sensex - 25101 and Nifty - 7500). Thus the trend in the short term timeframe has turned bearish whereas trend in the long term timeframe continues to remain up. Even though India VIX remains low at 13.75, it has seen a jump of 15% for the past week which indicates increase in Volatility. One can expect the Volatility index to continue to increase for the coming week as well. Option data suggest highest Put Open Interest has shifted to 8100 whereas the highest Call build-up has shifted to the strike of 8500. Thus Option data suggests a trading range with support coming in at 8100 and resistance around 8500.

Conclusion:-
 Nifty is almost at an oversold territory and sharp bounce is expected any time soon in next week...

 


[for detail report call  @ 09066326165] 





DISCLAIMER: Neither the information nor any opinion expressed constitutes an offer, or any invitation to make an offer, to buy or sell any securities or any options, futures nor other derivatives related to such securities ("related investments"). Investors/traders should do their due diligence before taking any action based on our analysis. Stoplosstrade.com or any of its associates or employees does not accept any liability whatsoever direct or indirect that may arise from the use of the information herein.

Friday, December 12, 2014

Indian markets to open with a positive note and expected to be positive through the day...

Market outlook logo 26th logo

Greetings,

Indian markets to open with a positive note and expected to be positive through the day...

Global Market Update:-
U.S. stocks rose on Thursday, bouncing sharply from a three-day drop as data pointed to a strengthening economy that appeared likely to weather the impact of a steep drop in oil prices.
But the weakness in oil has helped consumer holiday spending, with retail sales data for November beating expectations. The S&P retail index  jumped 1.6 percent, lifted by a 1.4 percent climb in Home Depot  to $100.36. Falling oil prices have added to worries about global demand and raised concerns about earnings for energy companies, with year-end tax selling putting additional pressure on the group.
The sector is down 14.7 percent for the year and is the worst performing of the 10 major S&P sectors. Brent crude , down more than 40 percent from its June high, briefly managed to climb back above the $65 mark only to reverse course and last traded flat at $64.24. WTI crude shed 0.3 percent to $60.73.
The data may influence investors' expectations on whether the Fed will adjust its language to keep interest rates near zero for a "considerable time" when policymakers meet next week.

Indian Market Update:-
Dalal street extends the losses and close exactly at the support levels but below the psychological level of 8300. Nifty closed the day at 8293 down 62 points and Sensex closed the day at 27602 down 230 points.
As the Nifty has closed exactly at the support level it should consolidate before testing the 8200 mark and being a Friday  last day of the trading should witness in short covering rally.  Markets will be opening in a positive note with a continued bias of buying with strong resistance zone for Nifty at 8430 and strong support at 8290 again.

Cash Pick:-
Recommendation: BUY BALRAMCHIN
CMP: 61.80
Target: 75
Stop loss: 55
Time duration: 2 WEEKS
Technical view:-
The stock after the retracement from the previous rally till the 61.8% of Fibonacci the stock has taken a reversal pattern with a bullish engulfing pattern and now giving a island gap up could run away to the previous highs. Stock is making higher top higher bottom breaking the triangular pattern.

DERIVATIVE PICK:-
Recommendation: BUY DIVISLAB
CMP: 1707
Target: 1800
Stop loss: 1650
Time duration: 2 Weeks
Technical view:-
Stock has made a double bottom pattern taking the strong support of 1650 levels stock has taken a reversal pattern with bullish engulfing candle stick pattern breaking the trend line on the upside should take back the stock to its previous resistance zone.

Conclusion:-
Can initiate the buying and December series is expected to close in a positive tone...

[for detail report call  @ 09066326165] 





DISCLAIMER: Neither the information nor any opinion expressed constitutes an offer, or any invitation to make an offer, to buy or sell any securities or any options, futures nor other derivatives related to such securities ("related investments"). Investors/traders should do their due diligence before taking any action based on our analysis. Stoplosstrade.com or any of its associates or employees does not accept any liability whatsoever direct or indirect that may arise from the use of the information herein.

Thursday, December 11, 2014

Indian markets to open gap down, But again the bounce expected from the lower levels...

Market outlook logo 26th logo

Greetings,

Indian markets to open gap down, But again the bounce expected from the lower levels...

Global Market Update:-
 Plunging oil prices sent energy stocks falling on Wednesday, bringing broader equities indices down with them, especially on news global oil cartel OPEC expects demand to fall next year, a sign the global economy may be cooling the pace of its recovery.
At the close of U.S. trading, the Dow  fell 1.51%, the S&P 500  fell 1.64%, while the Nasdaq fell 1.73%.
The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories increased by 1.5 million barrels in the week ended Dec. 5, confounding expectations for a decline of 2.5 million barrels, which stoked demand concerns.
OPEC also forecast that demand for the group's oil will drop to 28.9 million barrels a day next year, down from 29.4 million barrels a day in 2014, which exacerbated Wednesday's losses on stock markets by stoking fears global recovery faces headwinds. European indices, meanwhile, ended the day largely lower.

Indian Market Update:-
It was a relax for the Indian markets after the 4 straight sessions of correction as expected the markets managed to hold the Nifty level of 8300 and bounced sharply to close at 8355 up 15 points closed above the resistance zone of 8350 and Sensex closed the day at 27831 up 34 points.
Now the markets have seen bit of relief but the reversal confirmation is not yet seen in the markets there will be a rally only if Nifty manages to close above the 8430 levels. 
It will be a gap down opening again for Indian markets tracking the global cues but again may witness the recovery from the lows and can trade in a range bound. Support is still at 8290-8300 zone breaching theses levels can take the Nifty to 8180 levels.

Cash Pick:-
Recommendation: BUY GRUH
CMP: 254
Target: 280
Stop loss: 240
Time duration: 2 WEEKS
Technical view:-
The stock is moving in a rising trend line making higher top higher bottom pattern and now has formed Maribozu bullish pattern with the triangular pattern breakout with RSI trading in a bullish zone should give the confirmation for the stock to trade higher.

DERIVATIVE PICK:-
Recommendation: BUY BPCL
CMP: 669
Target: 720
Stop loss: 660
Time duration: 2 Weeks
Technical view:-
BPCL is in a oversold territory as per the RSI indicator and have taken a strong support at 100 DMA and taken support of the long term rising trend line and have closed the day with the doji pattern with the falling global crude prices should lift the stock to higher levels

Conclusion:-
Nifty Again to take support from lower levels...

[for detail report call  @ 09066326165] 





DISCLAIMER: Neither the information nor any opinion expressed constitutes an offer, or any invitation to make an offer, to buy or sell any securities or any options, futures nor other derivatives related to such securities ("related investments"). Investors/traders should do their due diligence before taking any action based on our analysis. Stoplosstrade.com or any of its associates or employees does not accept any liability whatsoever direct or indirect that may arise from the use of the information herein.

Wednesday, December 10, 2014

Markets to continue the correction, But Today we can see some rebound from the 8300 levels of Nifty...


Market outlook logo 26th logoGreetings,

Markets to continue the correction, But Today we can see some rebound from the 8300 levels of Nifty...

Global Market Update:-
The S&P ended nearly flat on Tuesday as concerns about global weakness and political turmoil were offset by gains in technology and energy shares. The index managed to nearly erase a 1.3 percent decline from earlier in the day, moving more than 26 points to its high of the day from its low.
The market in general is digesting a very big move since its October 15 low," said Adam Sarhan, chief executive of Sarhan Capital in New York. "Less than two months ago we were flat for the year, so investors are hypersensitive to potential downdrafts in the market at this stage in the game.“ Greece unnerved investors after the government brought a presidential vote forward in a political gamble that raised uncertainty over the country's transition out of its bailout.
Adding to the cautious tone was uncertainty over whether the U.S. Federal Reserve will change its pledge to keep rates near zero for a "considerable time" when policymakers meet next week.

Indian Market Update:-
Profit booking trade continued on the Dalal street on the second straight day of the week the broader indices corrected more than 2% in two straight sessions indicating more weakness in the markets.
The broader Indices closed down the day down around 1.16% with Sensex closed at around 27797 down 322 points below the psychological level of 28000 and Nifty closed the day at 8340 down 97 points below the strong support zone of 8350 levels.
Going forward the markets to witness more weakness now the strong support for the Nifty seen at 8300 where Highest amount of  8300 put open interest is seen. Tomorrow markets if tests 8300 levels then we can see strong buying from the said levels.

Cash Pick:-
Recommendation: BUY SOBHA
CMP: 500
Target: 550
Stop loss: 475
Time duration: 2 WEEKS
Technical view:-
The stock is moving in a rising trend line making higher top higher bottom pattern and now has formed the important pattern of cup and handle which gives strength to the stock and can touch 550 levels in a quick session.

DERIVATIVE PICK:-
Recommendation: BUY RANBAXY
CMP: 648
Target: 700
Stop loss: 630
Time duration: 2 Weeks

Technical view:-
RANBAXY after a strong correction from the all time highs was consolidating for a long period of time and now the stock has shown a strong reversal signal with giving a strong breakout above the intermediate resistance zone can move further upside

Conclusion:-
Nifty Might take support from the lower levels...

[for detail report call  @ 09066326165] 





DISCLAIMER: Neither the information nor any opinion expressed constitutes an offer, or any invitation to make an offer, to buy or sell any securities or any options, futures nor other derivatives related to such securities ("related investments"). Investors/traders should do their due diligence before taking any action based on our analysis. Stoplosstrade.com or any of its associates or employees does not accept any liability whatsoever direct or indirect that may arise from the use of the information herein.

Tuesday, December 9, 2014

Profit taking continues on the Dalal street and expected to extend more from the current zone...

Market outlook logo 26th logo

Greetings,

Profit taking continues on the Dalal street and expected to extend more from the current zone...

Global Market Update:-
The S&P 500 posted its biggest daily percentage drop since Oct. 22 on Monday as oil's slump to a five-year low caused a selloff in energy shares.
Worries about global growth added to the bearish tone. Data showed China's exports grew at a slower-than-expected pace and imports dropped in November, while Japan's economy shrank more than expected in the third quarter.
Meanwhile several of the year's biggest gainers also sold off, possibly due to year-end profit-taking "This has been a monster market, and it's been eking out new records. So it's taking a breather. The question is, is the U.S. equities versus other asset classes trade done. The Dow Jones fell 106.31 points, or 0.59 percent, to 17,852.48, the S&P 500  lost 15.06 points, or 0.73 percent, to 2,060.31 and the Nasdaq dropped 40.06 points, or 0.84 percent, to 4,740.69.

Indian Market Update:-
The Markets opened in a flat note but extended the profit booking as expected. before the Current account deficit numbers due today the benchmark indices closed the day lower with Sensex closing the day at 28119 down 338 points and Nifty closed the day down 100 points at 8438 which is below the support zone of 8450 and the next immediate support comes at 8400 levels.
As the Current account deficit numbers as expected are very weak and the gap widens to around 10 billion dollars as the Gold imports grew drastically higher could affect today's markets on the downside again. Profit booking is expect to continue till 8400 zone on Nifty which is acting as a next leg of support followed by 8350 level.
Technically the Nifty is showing the bearish signal with closing the last trading day very weak.

Cash Pick:-
Recommendation: BUY NETWORK 18
CMP: 63.5
Target: 70
Stop loss: 60
Time duration: 2 WEEKS
Technical view:-
The stock is moving in a rising trend line and consolidated for a while now and managed to give a strong close above the resistance zone with high volumes whith the bullish engulfing candle also broken the flag pattern to give some more strength to the stock.

DERIVATIVE PICK:-
Recommendation: BUY COALINDIA
CMP: 364.5
Target: 390
Stop loss: 358
Time duration: 2 Weeks

Technical view:-
Coal India after a strong correction from the all time highs was consolidating for a long period of time and now the stock has shown a strong reversal signal with giving a strong breakout above the intermediate resistance zone making higher top higher bottom breaking the triangular pattern should take the stock to the levels of 390.

Conclusion:-
Profit booking to continue on D-street....


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