
Senior Technical Analyst,
YES Securities
It was a massacre within the Indian fairness markets on the final buying and selling day of the week as Nifty-50 Index ended with an enormous minimize of 4%. Additional, relentless promoting by the bears after a GAP down opening pushed the Nifty-50 Index beneath its current assist zone of 14,630 indicating weak point; although the promoting halted on the 50-DMA positioned at 14,440 which additionally occurred to be the GAP assist space. A sustained commerce beneath this assist of 14,440 will prolong the corrections to 14,330-14,300 ranges. Technical indicator RSI has additionally turned down from the bear higher territory of 60 confirming bearish sentiments prevailing in the intervening time. Nevertheless, on the flip aspect a commerce past 14,650 will set off a brief overlaying rally taking the Index again to ranges of 14,800.
Fairness suggestion
DLF Futures
Promote@ CMP Rs 303
Goal: Rs 284
Cease Loss: Rs 313
The inventory is on the verge of a breakout from a trendline assist positioned at 300 ranges, a breakdown from this assist on wholesome volumes will set off a pointy bear pattern reversal. Additional, inventory has shaped a decrease excessive indicting weak point. RSI has turned down from the bear higher finish of 60 suggesting a bearishness.
BLUESTARCO
Purchase @CMP Rs 870
Goal: Rs 920
Cease Loss: Rs 840
The inventory has turned upwards after breaking out of an inverted head & shoulders sample neckline. Additional, volumes have been good main as much as breakout suggesting bullishness. RSI can also be favouring an prolonged uptrend.