Tuesday, 6 December 2016

TRADE IDEA ON YESBANK FUTURE FOR 07 DEC 2016

“BUY YESBANK ABOVE 1200 TGT 1210/1225”
“SELL YESBANK BELOW 1180 TGT 1170/1155”
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Primary trend of the stock is bullish and It is expected to continue the bull run with the crossing of the resistance level of 1210, as the stock is sustaining above its 200 days moving averages. 22 EMA seen on charts as a support and 55 EMA seen on charts as a resistance level. One may initiate the long position above the mentioned level for the targets of 1225 and with the strict stop loss of 1180. One may initiate the short position below 1180  for the targets of 1170/1155 and with the strict stop loss of 1209.
Sensex gains 258 points, Nifty ends above 8200
The Sensex ended with a gain of 44 points at 26392.76. The indices opened at 26403.62, touched an intra-day high of 26502.43 and low of 26356.02.The Nifty gained 14 points and closed at 8,143.15. It opened at 8,153.15 points, hitting a high of 8,178.70 and low of 8,130.85. At the end of the trading hours, the only positive is the indices have closed in green. Sensex opened on high note and more or less was stagnant in terms of variations through out the day. Similarly, Nifty too had an almost flat day today.ahead of RBI policy meet. Polls suggesting RBI may cut the rate by 25 bps .Technically,
A strong break below 8150 will increase the downside pressure and drag it to 8100/8050. Traders can go short on a break below 8150.On the other hand, a decisive break above 8220 will ease the downside pressure and take the index futures higher to 8270 and 8320 .
 TOP GAINERS:  ICICI Bank, Maruti Suzuki, Ambuja Cement, Yes Bank, Ultra Cement
TOP LOSERS:  Idea, Lupin, GAIL, Reliance, Zee Entertainment, Cipla, Tata Motors

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