August 8, 2016 INDEX MOVEMENT The BSE Sensex ended up 364 points at 28078 and the Nifty settled 132 points higher at 8683.The Nifty Aug Futures closed...
August 8, 2016 INDEX MOVEMENT The BSE Sensex ended up 364 points at 28078 and the Nifty settled 132 points higher at 8683.The Nifty Aug Futures closed 111.6 points or 1.3% higher at 8,706.0. The Aug Futures premium narrowed to 22.85 points from 54.1 points in the previous session. The Nifty ended with good gains today. On intraday basis Nifty retraced faster on up side, which is a bullish indication.Tomorrow, if Nifty sustains above 8680 level then further it could move towards 8720-8840level. If Nifty trades below 8660 level then may see down move up to 8620- 8570 level.
NIFTY FUTURES DAILY CHART
NIFTY SPOT DAILY CHART
Today DOJI type candle formed in Nifty futures at the new swing high of 8757.10 & Nifty spot at 8723 levels. Market will move either side of high – low of today’s DOJI. Such dojis are indicative of reversal signals, when they are formed after a reasonable up move. Presently, this pattern has been formed after an up move of only one session and Nifty is still amidst sideways range. Hence, this pattern could possibly continue to be an uptrend. The key economic event of RBI’s mid quarter policy review meet is scheduled tomorrow. Positive outcome of meet could lead to a continuation of up move. Negative outcome of the meet could probably have a knee jerk reaction in the market & could shift Nifty to remain in a broader sideways.
Further upsides are likely once the immediate resistances of 8760 are taken out and next upside targets are around 8850 levels and next 9100 levels Nifty Futures closed at 8608. If Nifty Futures breaks above 8620 further it could move up to 8660- 8690. If Nifty trades below 8560 level further it could slide up to 8520- 8460
RECOMMENDATIONS POSITIONAL All trades discussed here are for positional or delivery. All levels & rates given here are of Futures. Traders must keep booking profit and follow stop loss strictly. Remember by triggering stop loss we limit our losses. Date
Scrip
Position
CMP (Rs)
Status
26/5/2016
DATAMATICS
BUY 56-57 TRAIL SL 65
77.30
BOOKED PARTIAL @ 75
Note:*Book partial profit @ 1:2 30%, 1:3 30%, Book total @ 1:4 Ratio *Follow stoploss strictly and trail your positions.
SHORT TERM CALL All levels & rates given here are of spot. Traders must keep booking profit and follow stop loss strictly closing basis. Remember by triggering stop loss we limit our losses. Date
Scrip
Position
CMP (Rs)
5/8/2016
SBIN
BUY 232.8 SL 222 TGT 260
233.25
Status HOLD
5/8/2016
ANANTRAJ
BUY 58 SL 54 TGT 70
59.30
HOLD
5/8/2016
ESCORTS
BUY 260 SL 252 TGT 300
261.55
HOLD
5/8/2016
GAIL
BUY 378 SL 372 TGT 405 TRAIL SL 378
381.95
3/8/2016
PRICOL
BUY 105 SL 95 TGT 140
114.55
BOOKED PARTIAL @ 387 REMAINING HOLD HOLD
29/7/2016 BAJAJELECTRIC
BUY 265 SL 253 TGT 310
273.85
HOLD
29/7/2016 MERCATOR
BUY 46.5 SL 41 TGT 80
43.20
HOLD
22/7/2016 TATASTEEL 14/7/2016 LINCOLN 11/7/2016 MEGH 5/7/2016
APOLLO SINDOORI HOTELS LTD. BHARTI INFRA. GMM PFAUDLER LTD. HERITAGE FOODS KUSHAL TRADELINK LIC HOUSING FIN. BIRLA ERICSSON DYNAMIC INDS. VINDHYA TELELINK BHARTI AIRTEL BNK CAPITAL CITY UNION BANK FLEX FOODS J.B. CHEMICALS & PHARMACEUTICALS LTD. KIFS FINANCIAL KPIT TECH. MOHIT INDS. ORIENT PAPER POWER FIN.CORPN. PRICOL UNI ABEX ALLOY DR AGARWAL'S EYE GREENLAM INDUSTRIES LTD. INDIAN HOTELS
9 AUG
10 AUG
10 AUG
RIGHT ISSUE @ RS 65 DIVIDEND
10
10
9 AUG 9 AUG 9 AUG 9 AUG 9 AUG 10 AUG 10 AUG 10 AUG 11 AUG 11 AUG 11 AUG 11 AUG 11 AUG
10 AUG 10 AUG 11 AUG 11 AUG 11 AUG 12 AUG 12 AUG 12 AUG 13 AUG 13 AUG 13 AUG 13 AUG 16 AUG
10 AUG 10 AUG 19 AUG 10 AUG 19 AUG 19 AUG 13 AUG 19 AUG 19 AUG 20 AUG 22 AUG 20 AUG 16 AUG
REFERENCE: The data in this report is collected from Company annual reports and various popular financial websites like nseindia.com, Moneycontrol.com, Economic Times, Yahoo Finance, Live Mint etc.
DISCLAIMER: Ours is an advisory role. The final decisions and consequences based on our information is solely yours. Moreover, in keeping with regulatory guidelines, we do not guarantee any returns on investments. Prospective investors and others are cautioned that these reports contain many forward-looking estimates and may be subjected to change without notice.