Showing posts with label Intraday Tips for Next Week. Show all posts
Showing posts with label Intraday Tips for Next Week. Show all posts
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Share Market Review:-
Today the markets came under selling pressure and traded in a range today and barring IT, all sectoral indices closed in the red. Metal, auto and realty were the biggest losers of today's trading session. The Indian stock market witnessed selling pressure this week led majorly by the IT and Metal stocks. The CNX Midcap index was up 0.1% while the BSE Smallcap index also gained 0.1% in today's trade. The Sensex closed at 18551, down 68 points from its previous close. The market breadth, indicating the health of the market was negative. On NSE, 610 shares advanced while 804 shares declined. Total of 65 shares remained unchanged. European bourses trading flat ahead of the release of European bank stress tests results. The FTSE index is trading flat, while DAX and CAC index are trading down by 15 points each. Today's Top Gainers were Tata Consultancy with +1.99%, HCL Technologies with +1.11%, Power Grid Corporation with +1.05%, Mahindra & Mahindra with +.82%, Wipro Ltd with +.80%. Top Loosers were Tata Motors Ltd. with -3.28%, GAIL (India) Ltd. with -2.31%, Sterlite Industries with -2.19%, Reliance Power L with -2.14%, Sesa Goa with -2.11%.

Nifty Futures:-
The Nifty lost 1.4% during the week. S&P CNX Nifty pack, 17 scrips advanced while 32 scrips declined. S&P CNX Nifty today opened at 5603 and made high of 5632 in the initial half hour but was not able to sustain and slide 69 points from its days high making low of 5563. Markets were trading in the red, albeit off the day's low. The Nifty after moving in the green in the early session, slipped into the red on weakness in auto and metal stocks. The S&P CNX Nifty is at 5,581.10 - down 18.70 points.
The Nifty futures closed and settled finally at 5591.25 down by 9 points or -0.16 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5670 else above resistance level of 5670 it would be in an upward trend.
Resistance and Support Levels for Monday:-
It has resistance close to the level of 5670 & above this level the next resistance is near the 5760 mark. It has support close to the level of 5440 & below this level the next support is near 5440 mark.
       
Bank Nifty Futures:-
Today bank nifty futures not performed well and CNX Bank Index lost -29.25 points or -0.26 %. Amongst the banking index stocks Oriental Bank of Commerce, Canara Bank and Union Bank of India lead the row.
Bank Nifty Futures shut stop at 11252 down by -9 points or -0.16 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 11200 else above resistance level of 11405 it would be in an upward trend.
Resistance and Support Levels for Monday:-  
It has resistance close to the level of 11405 above this level the next resistance is near to the level of 11500. It has support close to the level of 11200 & below this level the next support is near 11080 marks.



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JET Airways
Buy JET Airways June Futures in range Rs 448-450
Target Rs 475
Stop Loss at Rs 438
Hindalco
Buy Hindalco June futures in range Rs 2.50-2.75
Target Rs 180
Stop Loss at Rs 1.50
Bank of India (BOI)
Sell BOI
Target Rs 415-406 against CMP Rs 425.8
Mphasis
Sell Mphasis
Target Rs 461-453 against CMP Rs 464.3
Piramal Healthcare
Buy Piramal
Target Rs 385-92 against CMP Rs 371.7
KS Oil
Buy KS Oil
Target Rs 28-29 against CMP Rs 26.3
ITC
Buy ITC
Target price of Rs 198.8-202 against CMP Rs 193.4.

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Today markets closed higher for the second consecutive day with the S&P CNX NIFTY continuing its northward journey and closing the day down -33.60 points or -0.16 % at 5516.75.
The Nifty futures closed and settled finally at 5533.80 down by -24.65 points or -0.44 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5625 else below support level of 5480 it would be in a downward trend.
It has resistance close to the level of 5625 & above this level the next resistance near the 5730 mark. It has support close to the level of 5480 & below this level the next support near 5400 mark.

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Next week the market will stay sideways in the near-term. The Nifty is likely to find support in the 5,300-5,400 band and resistance in the 5,500-5,600 range. A measured approach is called for to navigate through the current uncertain times.

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The S&P CNX Nifty added 63 points or 1.18 % to close at 5476.10. 
The Nifty futures closed and settled finally at 5472, up by 81.35 points or 1.51 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5490 else below support level of 5415 it would be in a downward trend.
It has resistance close to the level of 5490 & above this level the next resistance near the 5530 mark. It has support close to the level of 5415 & below this level the next support near 5310 mark.

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In banking, CNX Bank Index gained 415 points or 3.87 %. Amongst the banking stocks Union Bank of India, Oriental Bank of commerce and yes Bank lead the row.
Bank Nifty Futures shut stop at 11143.90 up by 395.45 points or 3.68 % It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11775 else below support level of 10788 it would be in a downward trend.
It has resistance close to the level of 11775 above this level the next resistance near to the level of 12050. It has support close to the level of 10788 & below this level the next support near 10520 marks.