Saturday 14 May 2016

Weekly Stock Recommendation by Money Maker Research

Indian equity markets registered modest gains in the week ended Friday, 13 May 2016 buoyed by the passage of key egislation viz. the Insolvency and Bankruptcy Code, 2016 by the government in the Parliament which is expected to help creditors recover bad debt faster. The market gained in three out of five trading sessions. The Nifty rose 81.45 points or 1.05% to settle at 7,814.90.

On the macro front, the data on Thursday, 12 May 2016 showed acceleration in consumer price inflation in April 2016. Inflation based on consumer price index (CPI) surged to 5.39% in April 2016 from six months low of 4.8% recorded in March 2016.  

On The F&O Front :  

Weekly data shows in the past trading sessions, we have seen strong Put writing at 7600/7700/7800 strikes & major Call writing at 8100/800/7900 strike indicating a range bound session for market, in the near term.  

On Technical Front: 
On Nifty weekly chart strong support is seen at 7780. If it breaks with high volume, more bearishness is expected.  

Nifty Directional:
Sell Nifty Future below 7775, Target 7725, 7675, Stop-Loss 7875. 

WEEKLY STOCK RECOMMENDATION:
BUY PFC FUTURE ABOVE 176.5,TARGETS:179,181.5,184, STOPLOSS-171.5 
BUYSTAR FUTURE ABOVE 1200 TARGETS 1207.5,1215,1222.5 STOPLOSS 1185  
SELL HINDALCO FUTURE BELOW 89.25 TARGETS 87 , 84.75 , 82.5 STOPLOSS 93.75

1 comment:

  1. A best finacial advisory company like Epic Research not only provide you the best trading tips but aslo guide you in every situation of market.

    ReplyDelete

Note: only a member of this blog may post a comment.

Share it