Nifty Forms Hanging Man Pattern in Intraday Trading Tips

 Intraday Trading TipsIndian Intraday Trading tips shares rose for a second uninterrupted session as lenders such as State Bank of India rallied after Finance Minister Mr. Arun Jaitley said the government would soon publicize new measures to deal with Non Performing Assets. Nifty Formed Doji Pattern on Intraday Chart and on weekly basis, the condition did not change much as the index shaped a bearish candle stick called Hanging Man, which suggestion at the end to the widespread uptrend. The Bombay Stock Exchange Sensex closes at 29421 were moving up by 89 points or impel log by 0.30 percent whereas Nse Index closes at 9108 were moving up by 22 Points or hush fog by 0.24 percent. The S&P BSE Midcap settling at 13849, were down by 04 points or by 0.03 percent, while S&P BSE Small cap closes at 14072 were up by 50 points, or 0.35 percent. The Top Gainers on the National Stock Exchange were Bank of Baroda up by 3.76%, Icici Bank up by 3.22%, Sbi up by 2.77%, Gail up by 1.43% and Kotak Mahindra Bank up by 1.19% on the flip side Grasim Industries down by 2.94%, Tech Mahindra down by 2.03%, Zeel down by 1.34%, Tcs down by 1.31% and Ambuja Cement down by 1.27% were the top losers on Day trading.

Sensex Major Resistance on Upside at 29524-29627-29730

Sensex Major Support on Downside at 29334-29247-29144

Trend Deciding Level at 29437

Short Term Trend: Up

Medium Term Trend: Up

Nifty Index Major Resistance on Upside at 9132-9155-9179

Nifty Index Major Support on Downside at 9087-9065-9042

Trend Deciding Level at 9110

20 DSMA at 9005

40 DEMA at 8870

Short Term Trend: Up

Medium Term Trend: Up

Major Headlines

Shriram Transport Finance raises Rs 600 crore through NCDs

Lypsa Gems bags order worth Rs 17.8 crore

Skipper bags orders worth Rs 405 crore

Jagran Prakashan opens buyback offer

Ujaas Energy bags order from IPGCL

Siemens bags order worth Rs 187.4 crore from BREB

Nifty Indices

On 24 March 2017: Foreign Institutional Investors (FII) Net Bought – INR 543.35 Crores and Domestic Institutional Investors (DII) Net Bought – INR 116.5 Crores.

The Nifty skilled with a bullish preconception on Friday trade and sized above the 9100 blot on a closing basis. A better picture shows that the Nifty held on to the strandline drawn from the prior swing lows. On the hourly chart, it has created a desire on the upside, which recommends that the larger upside budding is still unharmed. The range of 8980-9000, which had previous acted as a resistance zone, is now provided that support to the Index. On the weekly chart, the Nifty has placement a negative close. However, it can be taken as a part of a privileged degree fifth wave on the upside. The short-range and medium-range targets on the upside are 9235 and 9450, correspondingly.

In the daily chart the index is trading above the Twenty-day moving averages (DMA) and the Forty-DMA, ie 9005 and 8870 respectively. The thrust indicator is trading in bearish sort on the daily chart

In the hourly chart, Nifty is trading in above the Twenty-hourly moving averages (HMA) and the Forty-HMA, ie 9077 and 9089 correspondingly, the hourly impetus indicator encompass turned bullish mode.

The market duration was turned negative with 790 advances and 833 declines, Unchanged 101 Total Issue 1724 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 9139-9166-9194

Nifty Future Major Support on Downside is at 9092-9072-9045

Trend Deciding Level at 9119

Bank Nifty Major Resistance on Upside at 21247-21349-21451

Bank Nifty Major Support on Downside at 21003-20861-20759

Trend Deciding Level is at 21105

30 Days Simple Moving Averages @ 8944

50 Days Simple Moving Averages @ 8787

150 Days Moving Averages @ 8562

200 Days Simple Moving Averages @ 8524

Securities in Ban for Trade Dated 27.03.2017

  1. Bharatfin
  2. Hdil
  3. Ibrealst
  4. Ifci
  5. Jindalstel
  6. Jpassociat
  7. Jswenergy
  8. Orientbank
  9. Relcapital
  10. Sintex
  11. Wockpharma

[Visit STOCK PICK on website daily for Investment Calls]

Nifty Weekly Outlook [27-30 March 2017]

Subsequent to witnessing rigid sentiments in successive weeks, CNX Nifty witnessed profit booking from higher levels and traded under selling pressure all through the week. Nonetheless, it observed good recovery from lower levels due to short wrapper at lower levels. Instability in United States Dollar/Indian Rupee futures prices made Indian equity markets hot-blooded throughout the week. Theoretically, augment in volume and open interest with mutually side’s price movement price movement point out to one side sentiments in current week. 8995 will be the crucial level to watch out for in present week. It witnessed good buying support at lower levels from traders last week which indicates support at lower levels. It likely to trade with volatile sentiments in current week on profit booking at higher levels from traders. If it managed to sustain above 9050 level than it may witness stiff sentiments till 9300 levels. Breached of strong support 8995 level with good volume will make Nifty bearish and down side may come due to selling pressure below that level. Traders should look for the opportunity to buy at lower levels for the week.

Buy Nifty Fut Mar on Dips near 9050 sl 8970 Tgt 9200

Intraday Trading Tips

Buy Nifty Fut Intraday above 9133 sl 9108 Tgt 9153-9178 {Or} Sell below 9088 sl 9113 Tgt 9068-9043

Buy Bank Nifty Fut Intraday above 21177 sl 21727 Tgt 21227-21277 {Or} Sell Below 21088 sl 21138 Tgt 21038-20988

Curious Fact

From its earliest beginnings, Coffe has become the second traded product in the world behind oil. It’s a huge industry