Nifty Forms Bullish Harami Patten in Intraday Trading Tips

Intraday Trading TipsIndian Intraday Trading tips stock markets ended higher on Thursday, driven by gains in IT stocks after Tata Consultancy Services said its board would consider a share buyback plan next week. Nifty-50 forms a Bullish Harami is a two candle stick chart mold, inside a large candlestick is trailed by a small candlestick. The body of the smaller candlestick is situated within the vertical range of the larger body. The Bombay Stock Exchange Sensex closes at 28301 were moving up by 146 points or impel log by 0.52 percent whereas Nse Index closes at 8778 were moving up by 53 Points or hush fog by 0.61 percent. The S&P BSE Midcap settling at 13353, were up by 165 points or by 1.25 percent, while S&P BSE Small cap closes at 13414 were up by 179 points, or 1.35 percent. The Top Gainers on the National Stock Exchange were Zee Entertainment Enterprises up by 1.61%, Bharti Infratel up by 1.33%, ITC up by 1.22%, TCS up by 0.71% and HDFC Bank up by 0.69% on the flip side ITC down by 2.47%, Bharti Infratel down by 1.39%, Bosch down by 1.22%, Asian Paints down by 1.20% and BPCL was down by 0.79% were the top losers on Day trading.

Sensex Major Resistance on Upside at 28368-28436-28503

Sensex Major Support on Downside at 28191-28082-28014

Trend Deciding Level at 28259

Short Term Trend: Down

Medium Term Trend: Up

Nifty Index Major Resistance on Upside at 8817-8857-8896

Nifty Index Major Support on Downside at 8729-8681-8641

Trend Deciding Level at 8769

20 DSMA at 8664

40 DEMA at 8534

Short Term Trend: Down

Medium Term Trend: Up

 Major Headlines

Siemens bags order worth Rs 119 crore from Sterlite Power Grid Ventures

IL&FS Engineering bags pipeline laying contract worth Rs 123.05 crore

Bharat Electronics bags order from Elbit Systems

Sun Pharma up 3% as co may shift key products from Halol plant

Bharat Forge at 52-week high, up 5% on defence JV with Israel co

Reliance Infra jumps 4% on defence JV with Dassault, STRATA

Nifty Indices

On 16 February 2017: Foreign Institutional Investors (FII) Net Sold – INR 215.69 Crores and Domestic Institutional Investors (DII) Net Bought – INR 846.11 Crores.

The Nifty had shaped a triangular pattern on the hourly chart, which had kaput out on the downside in the last session. Nevertheless, in today’s session, it found prop up near a parallel trend line from the hang low, and the index rebounded reverse from there. The general formation suggests that the ricochet is dodgy to turn into a larger move on the upside. Commencing a temporary viewpoint, the rally seems to have full-fledged at the recent high of 8825. In consequence, 8800-8830 will prolong to act as a strong resistance zone. There is an odd of a short-range correction till 8800-8830 holds. Lying on the way down, 8700 will act as a decisive support below which 8550 will be the short-range target.

In the daily chart the index is trading above the Twenty-day moving averages (DMA) and the Forty-DMA, ie 8664 and 8534 respectively. The thrust indicator is trading in bearish sort on the daily chart

In the hourly chart, Nifty is trading in below the Twenty-hourly moving averages (HMA) and the Forty-HMA, ie 8764 and 8763 correspondingly, the hourly impetus indicator encompass turned positive.

The market duration was turned positive with 1154 advances and 480 declines, Unchanged 86 Total Issue 1720 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 8810-8834-8858

Nifty Future Major Support on Downside is at 8748-8710-8686

Trend Deciding Level at 8772

Bank Nifty Major Resistance on Upside at 20379-20455-20532

Bank Nifty Major Support on Downside at 20173-20043-19967

Trend Deciding Level is at 20249

30 Days Simple Moving Averages @ 8558

50 Days Simple Moving Averages @ 8383

150 Days Moving Averages @ 8500

200 Days Simple Moving Averages @ 8396

Securities in Ban for Trade Dated 17.02.2017

  1. Hdil
  2. Ibrealst
  3. Ifci
  4. Jetairways
  5. Jindalstel
  6. Tv18brdcst
  7. Unionbank

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Intraday Trading Tips

Buy Nifty Fut Intraday above 8800 SL 8775 Tgt 8820-8845 {Or} Sell below 8755 sl 8780 Tgt 8735-8710

Buy Bank Nifty Fut Intraday above 20355 sl 20305 Tgt 20405-20455 {Or} Sell Below 20244 sl 20294 Tgt 20194-20144

Curious Fact

An annoyed camel will split at person.