FREE STOCK TIPS FOR TODAY
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FUTURE CALL :- SHORT TATAMOTORS @ 186 TGT- 184 & 182 SL- 188
OPTION CALL :- BUY BHARTIARTL 380 CALL OPTION (JAN MONTH ) @ 4.20 TGT- 8 & 12 SL – 2 HOLF FOR 2-3 DAYS
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Stock market Overview
An excellent day of gains was witnessed by our market today, wherein after a flat opening, indices gave a stellar performance and closed on spectacular gains. Our indices replicated the growth story of its European and US peers and the back of a wide base rally witnessed a positive start, which gradually improved for better. Higher volatility was witnessed as expiry of this month contract will be on coming Thursday. All Sectoral indices witnessed good buying and traded with significant gains. Telecom stocks have moved up after TDSAT stayed DoT 3G roaming ban orders and said no coercive steps should be taken against companies until order. Capital Goods sector have extended their gains for the second trading session. Oil exploration stocks rose along with crude oil prices. PSU OMCs gained on reports that PSU OMCs may raise petrol prices by around Rs 1 per liters from next month. IT, realty, metal and capital goods were the prime gainers in today's session and banking and auto, too, zoomed support to the indices. The Sensex closed at 15971, up 232 points from its previous close, and the Nifty closed at 4779, up 65 points.• Level wise, closing above the threshold 4770 levels may depict returning strength of the bulls in the forthcoming sessions.
• Broader market witnessed firm sentiments, segments, like Large caps, small cap, midcap were under bulls support. Owing to this, bulls outnumbered the bears with significant margin.
• Due to buying Nifty recover significantly and closed above 9 & 14 day’s SMA placed at 4693 & 4762 but, continued to close below its vital 50 & 100 day’s SMA placed at 4974 & 5008.
• Though, VIX, the barometer of uncertainty, corrected sharply and closed at 26+, yet it indicates a more than average volatility in market in the forthcoming sessions.
• RSI (14) for the session was at 47.29 levels and MACD closed above the signal line.
Market may continue to witness limited upward movements in forthcoming session amidst higher volatility
NIFTY LEVELS
Resistance Level 1- 4845
Resistance Level 2-4910
Support Level 1-4702
Support Level 2-4617
