Thursday, September 8, 2016

TECHNICAL ANALYSIS OF WOCKPHARMA FOR 09 SEP 2016

“BUY WOCKPHARMA ABOVE 875 TGT 890/910”
WOCKPHARMA  is showing correction since past few sessions and also sustaining above lower trend line support level 850. Currently it has formed reversal pattern on the short term charts and trading above the resistance level of 850.Breakout of its resistance level show recovery in it where traders can expect targets of 890 and 910 while major support of 850 can be placed as technical stop loss.

NIFTY,SENSEX ENDS ABOVE 8,950,29000

Today, Sensex ended with a gain of 119 points at 29,045. The Sensex opened at 28,929 touched an intra-day high of 29,077 and low of 28,855.The Nifty closed with a gain of 35 points at 8,953. The Nifty opened at 8,916 hitting a high of 8,960 and low of 8,896. The Indian equity market opened in red on Thursday and erased early losses to end higher on Thursday after European stocks edged higher. The Sensex ended above 29,000 for the first time since April 13, 2015 while the Nifty Midcap index ended at record closing high. Now Technically, Indian Stock Market is in positive trend and Every correction would be an opportunity for traders to go long in the market. . Market would consolidate at this point of time and would see further correction before breaching psychological levels of 9000 for Nifty. This positive rally would last very long and as data suggest we could see new lifetime
highs in the market soon but before that happens, we would see some consolidation and some correction at these levels. Once Nifty breaches 9000 levels, we would soon see market breaching lifetime highs of 9119 levels for Nifty. BSE 500 has already created new lifetime highs. Traders can hold long positions as of now and can even add long positions at every correction .overall market sentiments would remain positive.
TOP GAINERS: Tata Motors, Hero MotoCorp, Dr.Reddy'sLupin, L&T
TOP LOSERSONGC, NTPC, TCS, Tata Steel, Coal India and RIL

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