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HOT STOCK: Buy ABG Shipyard above 139 TGT 153>167 Stoploss 125.
HOT STOCK: Buy CENTRALBANKOFINDIA above 43.30 TGT 47>51 Stoploss 40.50.HOT STOCK: Buy VIDEOCONIND 124 TGT 141>156 Stoploss 113.
DAILY: Last week market extended gains by 4.1 percent in Nifty, for the fifth consecutive week. Last week Nifty crossed the main hurdle 3240 and kissed 3400 levels. For the coming week there is strong and major downward sloping trendline resistance as shown in chart at 3470 and plus a 200-Dema at 3400 level.
On the daily chart Nifty has made a Doji pattern which suggests indecisiveness between bulls and bears. For this week a close below 3297 will test 3194-3154. On the upside, trading above 3470 will see the Nifty at 3650-3765, as shown in the weekly chart. Markets are overbought hence a correction is welcome. Once should buy on dips for the next upmoves.
HOURLY: The Indian market opened on a firm note and traded volatile throughout the session and closed in the green zone. For the coming session markets are heading towards major resistance 3470. Trading below 3307, we could see profit-booking and Nifty could test 3257-3194. On the other side trading above 3382 it could test 3407-3432 .
WEEKLY: Nifty shows an inverted chart on the Weekly charts. The 3470 would act as a resistance if 3470 are broken with volume, the next target is 3765.
DAILY: Last week market extended gains by 4.1 percent in Nifty, for the fifth consecutive week. Last week Nifty crossed the main hurdle 3240 and kissed 3400 levels. For the coming week there is strong and major downward sloping trendline resistance as shown in chart at 3470 and plus a 200-Dema at 3400 level.On the daily chart Nifty has made a Doji pattern which suggests indecisiveness between bulls and bears. For this week a close below 3297 will test 3194-3154. On the upside, trading above 3470 will see the Nifty at 3650-3765, as shown in the weekly chart. Markets are overbought hence a correction is welcome. Once should buy on dips for the next upmoves.
HOURLY: The Indian market opened on a firm note and traded volatile throughout the session and closed in the green zone. For the coming session markets are heading towards major resistance 3470. Trading below 3307, we could see profit-booking and Nifty could test 3257-3194. On the other side trading above 3382 it could test 3407-3432 .
WEEKLY: Nifty shows an inverted chart on the Weekly charts. The 3470 would act as a resistance if 3470 are broken with volume, the next target is 3765.
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