SMC Global Technical Stock Beats
Upcoming SlideShare
Loading in...5
×
 

SMC Global Technical Stock Beats

on

  • 57 views

 

Statistics

Views

Total Views
57
Views on SlideShare
57
Embed Views
0

Actions

Likes
0
Downloads
0
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

SMC Global Technical Stock Beats SMC Global Technical Stock Beats Document Transcript

  • 09th June, 2014 Nifty Outlook REC0MMENDATIONS: APOLLOTYRE (LONG) TARGET 202-205 Intraday call GLENMARK (LONG) TARGET 575-580 Intraday call Domestic markets opened on the positive note and extended rally in the early trade on Friday with benchmark Nifty reclaiming 7500 levels and also closed above the same. Moreover, benchmark nifty registered 7550 levels on account of buying witnessed in the Realty, Oil&Gas, Bank and Auto stock which maintained the buying momentum throughout the day. Technically, Nifty is continuously trading in higher highs and higher lows on daily chart which is bullish in nature. Support: 7540-7510 Resistance: 7630-7650 Stock is trading in higher highs and higher lows sort of rising wedge on daily charts which is bullish in nature. On Friday, stock went up by over 4% conclusively registered yearly high and also formed the long bullish candlestick on daily charts which gives the positive outlook for near term. Therefore, one can initiate long in range of 191-192 levels for the upside target of 202- 205 levels with SL of 188. Short term and medium term bias remains positive for the stock. It was forming the Cup and handle pattern and gave the breakout of same on Friday by registered gains over 2% and also manages to close above the same. Therefore, one can initiate long in range of 557-558 levels for the upside target of 575-580 levels with SL of 552.
  • WIPRO (LONG) TARGET 520-525 *The above recommendation is totally based on technical analysis for 09TH June, 2014 For Any Query or Suggestions email at researchfeedback@smcindiaonline.com Analyst Mudit Goyal muditgoyal@smcindiaonline.com Contact Details: 011-30111000 Extn. 677 Disclaimer: This report is for the personal information of the authorized recipient and doesn’t construe to be any investment, legal or taxation advice to you. It is only for private circulation and use .The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. No action is solicited on the basis of the contents of the report. The report should not be reproduced or redistributed to any other person(s) in any form without prior written permission of the SMC. The contents of this material are general and are neither comprehensive nor inclusive. Neither SMC nor any of its affiliates, associates, representatives, directors or employees shall be responsible for any loss or damage that may arise to any person due to any action taken on the basis of this report. It does not constitute personal recommendations or take into account the particular investment objectives, financial situations or needs of an individual client or a corporate/s or any entity/s. All investments involve risk and past performance doesn’t guarantee future results. The value of, and income from investments may vary because of the changes in the macro and micro factors given at a certain period of time. The person should use his/her own judgment while taking investment decisions. Please note that we and our affiliates, officers, directors, and employees, including persons involved in the preparation or issuance if this material;(a) from time to time, may have long or short positions in, and buy or sell the securities thereof, of company (ies) mentioned here in or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company (ies) discussed herein or may perform or seek to perform investment banking services for such company(ies) or act as advisor or lender/borrower to such company(ies) or (c) may have any other potential conflict of interest with respect to any recommendation and related information and opinions. All disputes shall be subject to the exclusive jurisdiction of Delhi High court. It is apparent from chart that stock is trading in lower highs and higher lows on daily charts which is bullish in nature. On Friday, stock went up by over 1% conclusively breached its 200EMA on daily charts and also closed above the same. Therefore, one can initiate long in range of 505-506 levels for the upside 520-525 levels with SL of 499.