Thursday, May 12, 2016

TECHNICAL ANALYSIS OF RELCAPITAL FOR 13 MAY 2016

FUTURE :
“BUY RELCAPITAL ABOVE 412 TGT 416/422”
 “SELL RELCAPITAL BELOW 400 TGT 395/388”
FOR MORE ROCKING CALLS OF FUTURE PLEASE FILL UP THE FORM GIVEN HERE >>>>>>>>>>>>>>>
DAILY CHART FOR RELCAPITAL:
Snapping Wednesday's losses, the  Sensex on Thursday added 193 points, The Sensex ended with a gain of 193 points at 25,790. The Sensex opened at 25,685 touched an intra-day high of 25,827 and low of 25,620. while the broader  Nifty topped its key 7,900-mark.The Nifty closed with a gain of 52 points at 7,900.40. The Nifty opened at 7,871.45 hitting a high of 7,916 and low of 7,850. , markets bounced back today owing to a spectacular rally in bank stocks after the Rajya Sabha passed the  Bankruptcy Bill. In the banking pack, ICICI Bank, SBI, IndusInd Bank, HDFC Bank and Bank of Baroda surged between 0.2%-4% to the passage of Bankruptcy Bill.
Indian Stock Market open positive. Though Indian Stock Market is in positive zone but the Capital Gain Tax news is pulling market down. Overall Capital Gain Tax on FIIs money is good for Indian Economy in long term. Traders should hold long positions until Nifty holds 7780 levels by closing. Once Nifty breaches 7900 levels, market would be considered strong and breaching levels of 8013 by closing would force market to see a big breakout from these levels. Further correction would be seen for now, but traders can go long at dip in the market until Market is in positive zone. BankNifty would be considered positive until it holds 17000 levels by closing. Once Nifty closes below 7780 and BankNifty below 16450 levels then traders can initiate fresh shorts in the market. Nifty would see strong support at 7850-7815-7775-7730 whereas strong resistance would be seen at 7888-7926-7980-8005 levels.
TOP GAINERS: Bosch, ICICI Bank, Dr.Reddy's, Hindalco, Asian Paints, SBI, TCS and Tata Motors
TOP LOSERS: Aurobindo Pharma, Eicher Motors, M&M, HUL, Axis Bank and L&T

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