Friday, 23 September 2016

WEEKLY ANALYSIS OF SIEMENS FOR 26 SEP-30 SEP

“BUY SIEMENS ABOVE 1282 TGT 1300/1325”
“SELL SIEMENS BELOW 1250 TGT 1228/1200”
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Primary trend of the stock is bullish and is consolidating at the 1270-1280 level. It is expected to continue the bull run with the crossing of the resistance level of 1282, as the stock is sustaining above its 200 and 50 days moving averages. One may initiate the long position above the mentioned level for the targets of 1330/1325 and with the strict stop loss of 1260. where one may initiate the short position in it only below 1250 for the targets of 1228/1200, while stop loss can be placed at 1282.

Sensex ends lower, Nifty below 8,850

Sensex ended with a loss of 105 points at 28,668. The Sensex opened at 28,810 touched an intra-day high of 28,825 and low of 28,627.The Nifty closed with a loss of 36 points at 8,832. The Nifty opened at 8,881 hitting a high of 8,885 and low of 8,820. Indices lost ground in late trades to end lower as investors booked profits after gains in the previous session post the US Federal Reserve's decision to keep interest rates unchanged. Nifty edged marginally lower on Friday and lost nearly half a percent, tracking decline in select index majors. The move was on expected line in Nifty and we believe it’ll continue ahead also. However, the range would be broader due to upcoming F&O expiry. Technically, Indian Stock Market is still in positive zone and traders can hold long positions as of now. Traders can hold long positions with strict stoploss of 8780 levels for Nifty . If Nifty breaches levels of 8894 levels whereas a sharp negative rally would be seen if Nifty breaches 8780 levels.
TOP GAINERS:  RIL, Dr.Reddy's, TCS, HCL Tech, HDFC, BPCL, Coal India, HDFC Bank
TOP LOSERS:  Lupin, Axis Bank, TCS, HUL, Coal India and Wipro

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