The stock has given channel breakout and sustained and closes above its resistance level 750, MACD has also shown upward crossover and RSI is at 53.02 level
We recommended traders to buy REPRO INDIA above 760 level and target of 768-780 may achieved with a stop loss of 748.
Stock is in bullish trend and has given consolidation breakout above level of 135 and after that consolidating around level 138-140, MACD has also shown upward crossover and RSI is at 70.72 level
We recommended traders to buy TBZ above 141 level and target of 143-147 may achieved with a stop loss of 138.
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Another range bound session of Indian benchmark indices had once again closes on a positive note and also continue its sideways movement on Thursday as well. There is no clear trend where market is heading towards. Both Nifty and Nifty Bank are in the sideways movement whereas market breadth was positive this time as 1442 shares advanced against a decline of 1255 shares. Nifty future closes with gain of 12.15 points at 10370.10 and sensex closes with a gain of 26.53 points at 33588.08.
Nifty IT ended the session on positive note ended with gain of 1.02% and Nifty PSU bank closes with a loss of 0.36%
Infosys, Sun pharma, Reliance are the top gainers today and Idea, Dr Reddy Labs and Adani ports are the top losers.
After 3 consecutive range bound session the only thing which is positive is Nifty closing, which is continuously positive and last 3 day high of Nifty future is around 10389 which is now strong resistance level. Traders can enter in Nifty future above the breakout of 10390 and in bank nifty future above 25850. As we said last Friday gap area is still considered strong support zone in near term.
Trading strategy for Friday will be buy on dips as market trend may be consolidate to bullish till market breakdown the gap area.
RESISTANCE & SUPPORT LEVELS –
Support of Nifty future is placed at 10310 and 10265.
Resistance of Nifty future is placed at 10390 and 10510.
Support of Bank Nifty future is placed at 257650 and 25550.
Resistance of Bank Nifty future is placed at 25850 and 26010.
SELL ZINC BELOW 210 TARGET 209.60-209-207.50 WITH SL 212
8 K MILES ROCKSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS HIT ALL 3 TG 865 BOOK FULL PROFIT MKT HIGH IS 876.70.
CASH BTST TIP: BUY PIIND ABOVE 850 TARGET 870-920 WITH SL 825 TOTAL 1500 SHARES
BUY 8 K MILES ABOVE 834 TARGET 839-847-865 WITH SL 820
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INTERNATIONAL MARKET UPDATE
GOLD $ 1289.60
SILVER $ 17.18
COPPER $ 316.30
CRUDE $ 57.86
WORLD MARKET ALERT
HANG SENG 55
SGX NIFTY 10
BANK NIFTY TREND -BULLISH
BANK NIFTY FUTURE LEVELS
SUPP 1: 25540
SUPP 2: 24780
RES 1: 26340
RES 2: 26780
NIFTY SPOT LEVELS
SUPP 1: 10210
SUPP 2: 9890
RES 1: 10520
RES 2: 10650