Thursday, May 5, 2016

TECHNICAL ANALYSIS OF TATASTEEL FOR 06 MAY 2016

FUTURE :
“BUY TATASTEEL ABOVE 337 TGT 340/350”
 “SELL TATASTEEL BELOW 327 TGT 322/315”
FOR MORE ROCKING CALLS OF FUTURE PLEASE FILL UP THE FORM GIVEN HERE >>>>>>>>>>>>>>>
DAILY CHART FOR TATASTEEL:
The Sensex ended with a gain of 160 points at 25,251. The Sensex opened at 25,188 touched an intra-day high of 25,394 and low of 25,163. The Nifty closed with a gain of 29 points at 7,736. The  Nifty opened at 7,731 hitting a high of 7,778 and low of 7,707.Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone. Now bottoming out process could be seen around 7600-7500 levels from where Nifty would see sharp recovery. For now, traders can continue to hold short positions as of now. FIIs were net
sellers of Rs.66.45 crores whereas DIIs were net sellers of Rs.78.80 crores in cash market for last trading session. Nifty would see strong support at 7685-7650-7615-7600 whereas strong resistance would be seen at 7795-7830-7865-7900 levels. Since,our support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits. V-Guard Industries was higher by 13% at Rs. 1116. The company reported standalone net profit of Rs. 41.97 crore for the quarter ended March 31, 2016, registering growth of 109.1% yoy and 95.36% qoq. Modern Dairies hit 20% upper circuit to Rs.7.50 on BSE. The stock  had fallen to a 52-week low on Wednesday. Century Enka Ltd stock was higher by 3% at Rs. 215. The company reported a net profit of Rs.19.53 crore in March quarter.
TOP GAINERS: HDFC, Tata Motors, BHEL, Sun Pharma and Lupin Adani Ports, Bharti 
TOP LOSERS  :  Asian Paints, RIL,Tata Steel and TCS 

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