NSE updates -
PP | R1 | R2 | R3 | S1 | S2 | S3 | |
NIFTY | 5420.0 | 5499.0 | 5543.0 | - | 5376.0 | 5296.0 | - |
SBI | 2671.0 | 2733.0 | 2768.0 | 2830.0 | 2636.0 | 2574.0 | 2540.0 |
Hindalco | 214.2 | 224.0 | 230.5 | - | 208.6 | 197.0 | - |
Tata Steel | 614.0 | 629.0 | 637.0 | - | 605.5 | 590.0 | - |
IFCI | 51.2 | 52.2 | 52.8 | 53.7 | 50.6 | 49.7 | - |
Keeping SL of 5150………on NIFTY and start accumulating stocks….!!!!
And keep celebrating every profit…….!!!!NIFTY- It is trading above 11 DMA but below its 25, 50, 100 & 200 DMA. So keep SL of 11 DMA that is at 5384 and buy on dips. The last SL will be 5365. If it closes below 5365 then the mkt will turn into bearish mode moving down to 5350, 5320, 5300. Therefore Trading Range for NIFTY would be from 5365 – 5500. More power will come if it manages above 5450 levels.
Also there would be some pressure on NIFTY keeping in view the world mkts.
What I feel nifty may touch 5310-5340 before going up to 5550 ( remote possibility).
SBI- The possible targets for SBI may be 2850-2900 if it manages to close above 2720, its 200 DMA. Yesterday SBI has taken out its 50DMA at 2681. It has also shown positive divergence on its charts and also formed bullish engulfing pattern confirmed by yesterdays move.…..so unless the mkts sentiment turns negative, SBI may ROCK ON…..!!!
TATA STEEL- This counter is also trading below its 100DMA. It is trading in the range of 575-650. Next major resistance for it would be 650. Hold it and buy on dips.
IFCI- This counter is also moving below its averages. Its next resistance is its 25DMA at 54.75. If it manages to cross 54.75 it may touch 58, 60 levels. It has started showing positive divergence on the chart so I suggest to hold this counter for some more gains.
HINDALCO- This counter is trading near to its 100DMA. If it manages to cross 220.80 then its next resistance is at 231.00. So buy on dips with SL 207.00
Also keep watching BF Utilities, KIRI Dyes……
