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Wednesday, 7 June 2017

STOCK FUTURE TRADING TIP FOR 08 JUNE 2017


sell Star ABOVE 940 TGT 927/920 SL 960
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After showing correction from the higher level, now after giving breakout of its range bound movement, it is forming continuation pattern in short term charts, it is likely to continue the negative movement with the breakout of the pattern at the support levels of 940 ; as the stock is managing to trade below its 22,50 and 200 days moving averages with the RSI of 40, one may expect the targets of 920/900 in the stock if it manages to sustain below the immediate resistance  level of 960.
DAILY CHART FOR STAR
RBI keeps repo rate unchanged at 6.25%
Sensex settled at 31,271, up 80 points, while Nifty closed at 9,663, up 27 points. indices ended marginally higher after the Reserve Bank of India (RBI) kept the repurchase (repo)
rate unchanged at 6.25%, while lowering projections for inflation and striking a less hawkish tone in its second bi-monthly monetary policy for financial year 2017-18.The RBI, however, cut banks' statutory liquidity ratio - the amount of government securities they must set aside - by 50 basis points to 20% of total deposits starting on June 24.  

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