Equity Advisory Desk ~ Allies Financial Services
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Jai Jinendra , Pranam , Good Morning
Double Top at 4284 in Nifty Futures will act as a Strong Resistance
For last 2 trading sessions, Nifty Futures is forming high at 4284 levels and showing corrective downtrend in intraday. The current trend is started from the low of 3990 and almost completed 300 points in last 9 trading sessions, which can be termed as ‘B’ corrective up wave as per Elliot Wave Theory. A bearish Japanese Candlestick on daily chart is suggesting the starting of ‘C’ wave in a form of complex correction showing consolidation phase between 4300/4350 and 4100 with scrip specific activity. The intraday support levels below 4230 are at 4185 and 4138; where as the double top at 4284 will act as a resistance.NiftyView :
Close 4,246 Low 4,231 S2 4,196 S1 4,221 PP 4,256 R1 4,281 R2 4,317 HIGH 4,291
INTRA DAY BUY NIIT TECH CMP 520 SL 510 TG 580
POSITIONAL TTG FOR NIIT TECH IS 900+ WITH ONE YEAR VIEW
INTRA DAY BUY GODREJ INDS CMP 161 SL 158 TG 170+
DIVIS LAB HAS GIVEN A NICE BREAK OUT ON DAILY CHARTS CMP 4060 TG 4500 SHORT TERM.
HIGH RISK TRADE : POSITIONAL CALL : BUY ADVANTA CMP 810 SL 780 TG 850 , 880
UPDATES : NIIT TECH TG ACHIEVED FOR THE DAY 580 , HIT HIGH OF 620 ALSO DIVIS LABS HIT 4450 TG WAS 4500 & ADVANTA CMP 830
CONTINUE WITH OUR POSITIONAL CALL IDEA CELL TG 125
LIGHTEN UR POSITIONS IN AUTO STOCKS AS SOME BAD NEWS ON CARDS , THIS IS NOT A CALL TO BUILD UP SHORT POSITIONS , JUST AVOID THT SECTOR
Buy ICICI Bank Fut 932 SL 919 TGT 954 ..INTRA-DAY
REPEATING AGAIN BUY IT STOCKS LIKE INFY , SATYAM , TCS ( PLS REFER YESTERDAYS CALL FOR THE LIST )
Positional call : Buy Tech Mahindra cmp 1480 SL 1460 tgt 1550............
IDEA CLOSE TO ACHIEVE TG 125 CMP 124 THERE ARE RUMOURS THT ANIL AMBANI MAY OFFER FOR THE STAKE AT RS 150 & ABV , U CAN THINK NW WHT CAN HAPPEN TO THE STOCK
TECH MAHINDRA MAAL LAAVVVVVVVVVVVVVV 1510
DIVIS LAB TG 4500 ACHIEVED , REVISED TG 5000 POSITIONAL
ADVANTA TG 880 ACHIEVED REVISED TG 1000 POSITIONAL
Morning call Advanta at buyer circuit recoemended at 810 & revised tg 1000 , locked at 974
Divis labs cmp 4750 , Rock N Roll .......................
BELOW 4230 NIFTY NEED TO TEST 4180
