Nifty Get Some Interval and Intraday Stock Market Trading Tips

Indian Intraday Stock Market Trading shares rose slightly in choppy trade on Monday as forecast of an extended monsoon season sent cement makers and agriculture-related firms higher, offsetting lingering concerns from Britain’s vote to leave the European Union. The Bombay Stock Exchange Sensex closes at 26403 were roses by 05 points or impel high by 0.02 percent. Nse Nifty Closes at 8100 were credited by 06 points or plant slide slider up by 0.08 percent. The S&P BSE Midcap settling at 11404, up by 91 points or by 0.80 percent, while S&P BSE Small cap closer at 11450 up by 171 points, or 1.52 percent each on Intraday Share Market.

Sensex Major Resistance on Upside at 26518-26634-26749

Sensex Major Support on Downside at 26275-26148-26032

Trend Deciding Level at 26391

20 DSMA at 26709

40 DEMA at 26266

Short Term Trend: DOWN

Medium Term Trend: DOWN

Nifty Index Major Resistance on Upside at 8197-8300-8402

Nifty Index Major Support on Downside at 7915-7736-7633

Trend Deciding Level at 8018

20 DSMA at 8183

40 DEMA at 8044

Short Term Trend: DOWN

Medium Term Trend: DOWN 

Major Headlines

JB Chemicals & Pharmaceuticals up in green closes at 5.58%

Bajaj Finserv inches closer to new high closes at 2166 today high note at 2244

Aban Offshore drills a good order form ONGC

Nifty Indices 

On 27 June 2016: Foreign Institutional Investors (FII) Net Sold – INR 146.11 Crores and Domestic Institutional Investors (DII) Net Sold – INR 147.07 Crores.

The Nifty opened lower but ended the trading session in the positive zone. The Index saw wild intraday swings and ended the day with slim gains. After a deep cut in the previous trading session, the Nifty today showed some resilience and managed to find support at lower levels. However, the Nifty has broken short term and medium-term trend line support levels, indicating reversal of the near term uptrend. Today’s slight uptick looks like a technical pullback. Once this pullback is done, the Nifty should resume its downtrend. Today, the Index met resistance around 8120, which is the 50% retracement of the previous fall. If the Nifty manages to cross and sustain above 8120, then a move toward 8165 is possible, which is the 61.8% retracement of the previous fall. The level of 8165 will act as a strong resistance and breaking it may not be easy for the bulls. On the lower side, 8060–7992 will act as the support zone for the Nifty.

Meanwhile, the Bank Nifty has also broken crucial support levels and like the Nifty, it too witnessed a small technical pullback. On the upside, 17640–17945 levels will now act as resistance. On the downside, 17346–17030 levels will work as prop up. On the whole, the trend for the Nifty and the Bank Nifty is bearish. We shall continue to maintain our bearish stance on the Nifty for a target of 7715 as long as it is trading below 8165.

In the daily chart the index is trading between the Twenty-day moving averages (DMA) and the Forty-DMA, ie 8183 and 8044 respectively. The thrust indicator is trading in negative sort on the daily chart

In the hourly chart, Nifty is trading below the Twenty-hourly moving averages (HMA) and the Forty-HMA, ie 8100 and 8127 correspondingly, the hourly impetus indicator encompass turned positive.

The market duration was turned positive with 1215 advances and 334 declines, Unchanged 73 Total Issue 1622 on the National Stock Exchange.

Nifty Future Major Resistance on Upside at 8140-8176-8212

Nifty Future Major Support on Downside is at 7976-8012-8058

Trend Deciding Level at 8094

Bank Nifty Major Resistance on Upside at 17604-17716-17828

Bank Nifty Major Support on Downside at 17360-17228-17116

Trend Deciding Level is at 17472

30 Days Simple Moving Averages @ 8095

50 Days Simple Moving Averages @ 7998

150 Days Moving Averages @ 7709

200 Days Simple Moving Averages @ 7777

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Intraday Stock Market Trading Tips 

Buy Nifty Fut above 8133 sl 8111 Tgt 8153-8178 {Or} Sell Below 8066 sl 8088 Tgt 8046-8021

Buy Bank Nifty Fut above 17555 sl 17505 Tgt 17605-17655 {Or} Sell Below 17444 sl 17494 Tgt 17394-17344

Multibagger Stock

Buy Emmbi Industries Limited 100 Target 130 Time Period: 6-9 Months

Curious Fact 

Air India made Rs 1 crore profit a day under Y C Deveshwar’s chairpersonship in fiscal 1993. Deveshwar, who is stepping down as executive chairperson of ITC from next February, held the post of Air India chairperson during 1991-94.

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