Bulls on a Position and Intraday Trading Tips
Indian Intraday Trading shares, tracking a rally in global markets after polls showed support for Britain staying in the European Union regaining momentum before this week's referendum, while software services exporters such as Infosys rallied after the rupee weakened The Bombay Stock Exchange Sensex closes at 26867 were up by 241 point or impel high by 0.91 percent. Nse Nifty Closes at 8239 were rose by 68 points or plant slide glider up by 0.84 percent. The S&P BSE Midcap settling at 11404, up by 45 points or by 0.40 percent, while S&P BSE Small cap closer at 11478 up by 43 points, or 0.37 percent each on Intraday Stock Market Trading. Sensex Major Resistance on Upside at 27020-27174-27327 Sensex Major Support on Downside at 26577-26286-26132 Trend Deciding Level at 26730 20 DSMA at 26582 40 DEMA at 26148 Short Term Trend: UP Medium Term Trend: UP Nifty Index Major Resistance on Upside at 8284-8330-8375 Nifty Index Major Support on Downside at 8153-8068-8022 Trend Deciding Level at 8199 20 DSMA at 8146 40 DEMA at 8009 Short Term Trend: UP Medium Term Trend: UP Major Headlines Mahanagar Initial Public Offer Hits Tomorrow Government of India Approves Cent Percent FDI in Defence and Aviation Sectors Gammon India on 20% Upper Circuit Nifty Indices The Nifty opened lower but ended the trading session on a positive note. The Index opened with a deep cut but witnessed buying at lower levels and ended the day with almost a One Hundred Twenty Five Points point recovery from the session’s low. The Nifty had been trading in a triangle pattern for the past few trading sessions. However, today, the Index saw a breakout from the triangle pattern, which is likely to lead to a bullish trend in the short term. On the way up, 8260–8300 will act as a hurdle zone, whereas on the downside, 8200–8165 will act as a strong support. Since the Nifty has broken out from the triangular pattern, a move toward 8336 is likely in the short term. Every dip should be seen as a buying opportunity. Meanwhile, the Bank Nifty opened below the triangle pattern but saw a swift recovery and ended the day flat. Despite the breakdown, the Bank Nifty managed to erase its early loss and ended with a positive bias. On the higher side, the Bank Nifty may face resistance in the zone of 17843–18051 where as on the downside, it will find support at 17596–17350 levels. The Bank Nifty may see a breakout if it manages to trade above 18059. Till then, it may continue to trade sideways. Overall, the trend remains positive as long as the Nifty is trading above 7992, and we shall maintain our short-term target of 8230.
In the daily chart the index is trading above the Twenty-day moving averages (DMA) and the Forty-DMA, ie 8146 and 8009 respectively. The thrust indicator is trading in negative sort on the daily chart In the hourly chart, Nifty is trading above the Twenty-hourly moving averages (HMA) and the Forty-HMA, ie 8161 and 8165 correspondingly, the hourly impetus indicator encompass turned positive. The market duration was turned positive with 871 advances and 669 declines, Unchanged 97 Total Issue 1637 on the National Stock Exchange. Nifty Future Major Resistance on Upside at 8307-8362-8418 Nifty Future Major Support on Downside is at 8151-8050-7995 Trend Deciding Level at 8206 Bank Nifty Major Resistance on Upside at 17867-18020-18172 Bank Nifty Major Support on Downside at 17491-17268-17115 Trend Deciding Level is at 17644 30 Days Simple Moving Averages @ 8043 50 Days Simple Moving Averages @ 7947 150 Days Moving Averages @ 7697 200 Days Simple Moving Averages @ 7770 Intraday Trading Tips Buy Nifty Fut above 8265 sl 8244 Tgt 8285-8310 {Or} Sell Below 8222 sl 8244 Tgt 8202-8177 Buy Bank Nifty Fut above 17780 sl 17750 Tgt 17830-17880 {Or} Sell Below 17644 sl 17694 Tgt 17594-17544 Multibagger Stock Buy Emmbi Industries Limited 100 Target 130 Time Period: 6-9 Months Curious Fact Vicks was introduced in India in 1964, through a public limited company called Richardson Hindustan Limited (RHL). The parent company, Richardson Merrell, had established an office in India in 1951, but it was only with the institution of a public limited company with more than 10,000 Indian shareholders in 1964 that the brand gained operational freedom. .