Tuesday, September 27, 2016

TRADE IDEA ON WIPRO FOR 28 SEP 2016

“BUY WIPRO ABOVE 486 TGT 492/500”
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WIPRO After showing correction from the higher level, now stock is trading in short term recovery phase, it is likely to continue the upside move in near term with the crossing of the resistance level of 486 as the stock is managing to sustain above the level of 485. One may get the targets of 492,500 in the stock with the stop loss of 478.
NIFTY ENDS IN RED, Nifty below 8,750
Sensex ended with a loss of 71 points at 28,224. The Sensex opened at 28,373 touched an intra-day high of 28,433 and low of 27,179.The Nifty closed with a loss of 16 points at 8,706. The Nifty opened at 8,749 hitting a high of 8,769 and low of 8,691. Markets made a positive opening however, the rally fizzled out on account of profit booking at higher levels.  Besides, domestic markets will remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month September 2016 series to October 2016 series. The near month September 2016 derivatives contracts expire on Thursday, 29 September 2016.
TOP GAINERS:  Power Grid, Axis Bank, Infosys, TCS, Hero MotoCorp and Reliance 
TOP LOSERS:  ICICI Bank, Bharti Airtel, GAIL, HDFC, L&T, Maruti Suzuki and HUL

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