LAST RECOMMENDATION UPDATE:
GIVEN ON 28 OCT
COLPAL HIT ALL TGT 1015 MADE HIGH OF 1031.90
LOT SIZE: 700
DAILY TOTAL PROFIT:
56000 IN JUST TWO LOT
Primary trend of
the stock is bearish and it is likely to show correction with the breach of the
support level of 370, where one may initiate the short position in it for the
targets of 350, while stop loss can be placed at 380. Currently it has formed
reversal pattern on the short term charts and trading below the resistance
level of 380.Breakout of its resistance level may show recovery in it where
traders can expect targets of 390 and 400 while major support of 350 can be
placed as technical stop loss.One may initiate the long position above the
mentioned level for the targets of 400 and with the strict stop loss of 350.
Nifty shuts below
8,650 mark
Sensex ended with a loss of 156 points at 27,274. The Sensex opened at
27,466 touched an intra-day high of 27,499 and low of 27,194.The Nifty
closed with a loss of 51 points at 8,434. The Nifty opened at 8,503.60 hitting
a high of 8,504 and low of 8,400. On the economic
front, Traders were unable to find any
comfort with reports that in a major breakthrough for rollout of the Goods and
Services Tax regime from April 1 next year, the GST council yesterday, 3
November 2016 approved four main tax slabs 5%, 12%, 18% and 28% under a
proposed Goods and Services Tax (GST). While there will be two standard tax
rates – 12% and 18% - under the GST, half of the items in the consumer price
index would not be taxed at all to safeguard the interests of the poor.
TOP
GAINERS: ITC, HUL, Adani Ports, Cipla, GAIL and ICICI Bank
TOP LOSERS: Sun Pharmaceuticals, Dr Reddy's, Lupin, L&T and Maruti Suzuki
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