Thursday, December 1, 2016

TRADE IDEA ON UPL FUTURE FOR 02 DEC 2016

“BUY UPL ABOVE 656 TGT 662/672”
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Primary trend of the stock is bullish and it is running above monthly pivot level. It is expected to continue the bull run with the crossing of the resistance level of 650, as the stock is sustaining above its 200 days moving averages. And seen as a support level on charts. One may initiate the long position above the mentioned level for the targets of 662/672 and with the strict stop loss of 640.
Sensex closes in red and Nifty ends below 8200
The Sensex ended with a loss of 93 points at 26559. The benchmark indices opened at 26756, touched an intra-day high of 26769. and low of 26540.The Nifty closed 33 points lower at 8192. It opened at 8,244. points, hitting a high of 8,250. and low of 8,185. In a volatile trade, indices pared gains to settle on a lower note after initial rally dragged by telecom, banking and metal indices. India’s GDP, announced yesterday, grew lower than expected in the September quarter at 7.3% also affected the sentiment. Technically, Swinging between gains and losses, Sensex rose as much as 143 points during intra-trade before falling over 100 points while Nifty also broke it’s crucial 8,200 levels.
TOP GAINERS:  Eicher Motors, GAIL, Infratel, Hero Motocorp, Sun Pharma, Dr Reddy
TOP LOSERS:  Idea, Powergrid, Asian Paints, Hindalco, Tata Motors, ICICI Bank

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