Summary by - Suvrat Goel
DOW JONES
Touched a peak of 26635 and touched down to 23341.
the dow jones should not correct more, it can correct to 25321 at the bottom
and it should consolidate and it may a double top and we have to see weather the rally will continue or not
NIFTY
There is a sentimental hit in the nifty because of PSU banks. The bulls got the reason to book profit.
now nifty would behave according to the international market and if we track for short term.
there is a gap, 10499 and 10520 amd we have to touch 10500 which can act as a support.
Sectors should help NIFTY to go higher it is not just Reliance that would do everything
Find the support of Nifty.
IT is the part where you can focus - TCS, KPIT, INFY.
short term target stands out to be 10730
BANK NIFTY
there is a gap in bank nifty also. Today was bearish engulfing pattern in bank nifty.
It can correct tomorrow again. 25242 is the support. PNB can come down to 94 and on weekly basis it can come down to 91
then it may bounse a bit. Averages are already sold. Private are holding on. It can hit 26366. We are loosing momentum but it can come
NIFTY PSU
It is kind of a diamond shape pattern and it is struggling to hold on. Relaince has PSU BEES where you can delivery of PSU banking and hold it
and exit at 3200. these are all back bone PSU like SBI, PNB.
PHARMA INDEX
On monthly chart pattern it has formed an evening star formation. It Stands negative on chart. If there is not earning in the companies
then the index might correct and break previous low.Buy only 9652 because then the negative pattern will be negated and will stand at a break out
then the rally may continue and may jump 1000-2000 points . Track news for updates as they supply their material to the USA
Reliance Infra Time Frame: Short term CMP: 457 View: Monthly - Evening Star, Standing at resistance. Anil Ambani prefer to react according to NIFTY. 450-Entry Exit 485 (Channel High)
DHFL Time Frame: Short term CMP: 587 View: Entry @ 551-555 can be a good entry
Mannapuram Finance Time Frame: Short term CMP: 108 View: volumes are low it is a technical bounce. Can come down to 103 levels , 111 is resistance
Ambuja Cement Time Frame: Week CMP: 252 View: 250.5, 248 is a good support, result is good. Can come down to 245 levels and may go up
ICICI Bank Time Frame: CMP: 322 View: 269 is a gap. Election may give opportunity. It is oversold. It is at point of reversal. Not Able to break. Down to 310 can enter.
IDBI Bank Time Frame: Holding a call CMP: 73 View: A technical break out. 72 siuppport. If it closses below 72 and all the options will losse the preium
IB REALEST Time Frame: CMP: 219 View: tomorrow or day after it can go either side. Let channel break and then take a trade SL- 219
SKMEGG Time Frame: CMP: 83 View: It is not a retail script. There is a single man script. Focus for 5-7 yrs.81 is support SL-77
Muthoot finance Time Frame: CMP: 390 View: 436 is resistance. It has made a rounding top. 402-404 is resistance . Posititve sign in short term. Buy 383 SL- 370.
NATCO Time Frame: CMP: 770 View: ready to break more. 730 is zone of reversal. Oversold script.
KPIT Time Frame: CMP: 213 View: 216-17 if it breaks then it may head to 250 levels
JSW Steel Time Frame: CMP: 318 View: going good. 337 resistance and profit booking
Ashok Leyland Time Frame: Short term CMP: 138 View: 150 targets may test 160-65 for short term
GVK Power Time Frame: CMP: 17 View: on sell redar can come down to 13.50, 16.50 is support may go up to 19
IRB Time Frame: CMP: 233 View: good today 235 is testing jone. 237 is broken then it will test 247. can mobe up to 270-280 levels
DLF Time Frame: 1.5 yrs CMP: 222 View: attractive script. Fundamentals improving. Books will be cleaner. Entry- 198(may test) pick delivery. 350 targets
AXIS BANK Time Frame: CMP: 538 View: the script is not to pick at any point. May test 480 and 490 and wait for resistance. Avoided for investment.
BIOCON Time Frame: CMP: 622 View: there is a technical gap. Top @657 and it is reversing. If 615 is broken then you can short the script
COAL INDIA Time Frame: CMP: 309 View: Support @303 formed an engulfing pattern. If 306 is broken can test kevel 294 at the bottom
HUL Time Frame: CMP: 1346 View: Harami pattern. No fresh buy. If it breaks 1376 then target of 1440.
HCC Time Frame: CMP: 34 View: price discovery is not clear. 32.65 is broken it may test 27
HPCL Time Frame: CMP: 391 View: 399 is resistance. Then target 410.
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