NIFTY FOR THE WEEK
Listing unassuming profits in the first meeting, today Nifty displayed a contradictory meeting and regardless of paring up most of its day finally shut smaller. Level wise, concluding above the threshold 5220 & 17100 on Sensex, grades is most searched after to convey affirmative sentiments in our market. Despite concluding the last two sessions on a negative note, Nifty shut above its 9, 14, 50, 100 and 200 day’s SMA placed at 4916, 4991, 5195, 5172 and 5085. VIX, the barometer of doubt, rushed a little and shut at 23.92 levels, therefore it shows higher than optimum instability in the forthcoming meetings. RSI (14) for the meeting was at 33.88 levels and MACD closed underneath the pointer line.
DCB (PICK OF THE WEEK )
Last trading session for DCB was with volume after 10 months on same date . But apart from that DCB is at place for long term breakout of trend line which around 2 year old. If any time DCB trade above 48.65 with volume 52.30 & 59.20 would be near term target for DCB. One may buy DCB above 48.70 for above target. And may take stop-loss of 46.80
ABAN(PICK OF THE WEEK )
After rally from the level of 303 ABAN finally break its resistance of 424.30 and closes well above @ 428 this trade was with volume . some where all stop-loss of short trader were triggered now the short will started coving their position in ABAN and this may take price to high of 462 & 504. But before buying this stock wait for the level of 432 to cross with positive volume and for being save put stop-loss of 402
