Markets opened on a flat note and sustained there for a very short time and soon fell aggressively on back of profit booking at higher levels and tracking the weak global cues as European stocks hit the investors’ sentiments as major indices dropped 1-2%, while Asian indices also traded and closed down on back of dip in Oil and strengthening dollar which wisely affected the Indian indices closing them in red zone losing around 0.80%.
IT, Banks and FMCG were the major losers while no such gains were seen in any sector except Media which was slightly up approx 0.46%.
Global Market Updates:
- Asian shares were mixed on Tuesday as a weaker than expected Caixin manufacturing survey was shrugged off and investors eyed U.S. jobs data at the end of the week.
China’s Shanghai Composite closed lower amid dip in oil prices and strengthening of the US dollar.
Intraday superstar calls (Premium Section)
ALBK EQ has been trading around the strong supports since last three sessions and is expected to fall towards the lower band of channel pattern.
SELL BELOW 56 TARGETS 55.45/54.90/54.35 SL 56.85.
LICHSGFIN FUTURE had found resistance of the 100 day EMA constantly as shown on chart above and so if it drags below the mentioned level then sell offs can further drag the stock.
SELL BELOW 453.70 TARGETS 451.70/449.70/447.70 SL 456.20.
Multibagger call (Premium Section)
BANKBARODA FUTURE has showed strong reversals from resistance levels as seen on the daily chart. The stock closed below the trend line acting as strong support and now may fall towards the next support of the 100 day EMA.
SELL BELOW 153 TARGETS 151.50/150. MAINTAIN SL OF 155.
Trifid Special call (Premium Section)
APOLLOHOSP FUTURE dragged down towards the major support levels as the chart shows. Trend line so coming from deeper support levels can also be marked as a crucial point surpassing which the stock may further slip down and hence selling pressure may increase.
SELL BELOW 1292 TARGET 1282 SL 1300.
Major Indices Movement
Nifty opened with a bang but soon it showed a free fall on the back of global weakness and closed below the immediate support levels. As per our last report, we indicated that any closing below 7790 can be a weak signal and if holds below this support then it may further fall towards the next support range of 7760-7730. It needs to sustain above 7820 to again strength.
Bank Nifty slipped towards the mentioned support of 16460 and no buying was intimated at these lower levels, which indicate a weak signal for the index. It can be seen around 16250 levels if holds below 16420 while on the higher side, 16600 may act as important resistance level.
Up’s and Down’s
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