Monday, May 9, 2016

MARKET BREADTH TURNED FAIRLY POSITIVE WITH 26 OF THE 30 SENSEX COMPONENTS TRADING IN GREEN.

LAST RECOMMENDATION UPDATE: GIVEN ON 04 MAY 2016:
RELCAPITAL IS ON FIREEEEEEEEEEEEEE!!!!!!!!!!!!
IN BULLISH MOMENTUM: HIT FINAL TGT 400 MADE HIGH OF 413.20 BUY AT 386
LOT SIZE: 1500                                                       
TOTAL PROFIT: 42000 IN JUST TWO LOT
FOR MORE JACKPOT CALLS OF FUTURE PLEASE FILL UP THE FORM GIVEN HERE >>>>>>>>>>>>>>>
INTRADAY CHART FOR RELCAPITAL:
On the daily charts, Sensex has made a Doji whereas Nifty has managed a formation very close to Bullish Hammer, but in this case the candle has a small upper shadow. Interestingly Nifty has formed three neutral formations in past three days. This could have formed a Bullish Tri-Star formation if the second day candle body would have been lower than the first and third day’s body. On the weekly charts both the indices have formed a Black body candle which is smaller than average. Hence candlestick analysis suggests uncertainty in the near future. The Sensex ended with a gain of 460 points at 25,689. The Sensex opened at 25,532 touched an intra-day high of 25,710 and low of 25,303. The Nifty closed with a gain of 133 points at 7,866. The Nifty opened at 7,755 hitting a high of 7,874 and low of 7,754. Indian Stock Market would open positive. Technically, Some positive short-covering rally can be ruled out at this point of time. Breaching levels of 8000 for Nifty and 17100 for BankNifty would confirm an Inverse Head and Shoulder Pattern (Bullish Pattern), which would force market to see a sharp breakout and we could even see new highs in few months, if that happens. Until then, we would consider market to be negative with some short covering rally seen and 7600-7500 would be considered as very strong support for Nifty. Nifty would see strong support at 7705-7685-7650-7615-7600 whereas strong resistance would be seen at 7795-7830-7865-7900 levels.
TOP GAINERS: Axis Bank , HDFC, ICICI Bank, ITC, L&T, Hero MotoCorp, Aian Paints
TOP LOSERS: Dr.Reddy's, Tata Steel, Bhel and Cipla

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