Nifty Dry Day and Stock Market Tips for Intraday
Indian Stock Market shares edged down on Tuesday as investors booked profit after a rally in the previous session, even as sentiment was supported by growing expectations that Britons will vote to remain in the European Union in this week's referendum. The Bombay Stock Exchange Sensex closes at 26813 were down by 54 point or impel low by 0.20 percent. Nse Nifty Closes at 8220 were drawn by 19 points or plant slide glider down by 0.23 percent. The S&P BSE Midcap settling at 11418, up by 15 points or by 0.12 percent, while S&P BSE Small cap closer at 11520 up by 42 points, or 0.36 percent each on Intraday Stock Market Trading. Sensex Major Resistance on Upside at 26894-26976-27057 Sensex Major Support on Downside at 26744-26676-26594 Trend Deciding Level at 26826 20 DSMA at 26656 40 DEMA at 26180 Short Term Trend: UP Medium Term Trend: UP Nifty Index Major Resistance on Upside at 8253-8287-8320 Nifty Index Major Support on Downside at 8195-8171-8137 Trend Deciding Level at 8229 20 DSMA at 8168 40 DEMA at 8019 Short Term Trend: UP Medium Term Trend: UP Major Headlines Mahanagar Initial Public Offer Opened Today Kesar Terminals on hit of 52 weeks High Rolta India 52 weeks low Nifty Indices The Nifty opened higher but ended the trading session on a negative note. The Nifty witnessed selling pressure soon after the open and eventually ended the trading session near the low point of the day. However, the Index has given a breakout from the triangular pattern, which indicates a bullish outlook in the short term. Moreover, the overall trend is bullish as long as the Nifty is trading above 7992. On the higher side, 8260–8295 will act as a resistance zone whereas on the downside, 8180–8135 will act as a support zone. Given that there is a key global event on Thursday, there is a possibility that the Nifty may remain sideways and a clear direction will be known post that event. But, at present, the Nifty is trading above the 20 day moving average (DMA) and 40 DMA. It is also trading above 7992, which is a key trend reversal level. Hence, once should look to accumulate the dips. Meanwhile, after a false breakdown, the Bank Nifty is again consolidating in a triangle pattern. Given that the triangle pattern is generally a continuation pattern the probability of the Bank Nifty breaking out on the upside is high. For the very short term, 17762–17945 will act as resistance zone whereas 17527–17350 will act as support area. The Bank Nifty will gain momentum on the upside if it manages to sustain above 18050. 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 8168 and 8019 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 8196 and 8181 correspondingly, the hourly impetus indicator encompass turned negative. The market duration was turned negative with 743 advances and 805 declines, Unchanged 103 Total Issue 1651 on the National Stock Exchange. Nifty Future Major Resistance on Upside at 8248-8274-8300 Nifty Future Major Support on Downside is at 8201-8180-8154 Trend Deciding Level at 8227 Bank Nifty Major Resistance on Upside at 17706-17806-17907 Bank Nifty Major Support on Downside at 17554-17502-17402 Trend Deciding Level is at 17654 30 Days Simple Moving Averages @ 8054 50 Days Simple Moving Averages @ 7961 150 Days Moving Averages @ 7700 200 Days Simple Moving Averages @ 7772 Stock Market Tips for Intraday Buy Nifty Fut above 8244 sl 8222 Tgt 8264-8289 {Or} Sell Below 8177 sl 8200 Tgt 8157-8132 Buy Bank Nifty Fut above 17645 sl 17595 Tgt 17695-17745 {Or} Sell Below 17555 sl 17605 Tgt 17505-17455 Multibagger Stock Buy Emmbi Industries Limited 100 Target 130 Time Period: 6-9 Months Curious Fact The tallest building in the world is now in Dubai, the biggest factory in the world is in China, the largest oil refinery is in India, the largest investment fund in the world is in Abu Dhabi, the largest Ferris wheel in the world is in Singapore. .