17 January 2018

TCS ROCKS... YES BANK VIEW FOR 18 JAN 2018

YESBANK VIEW FOR 18- JAN-2018


BUY ABOVE 344 TGT 346.50/349 SL 339

SELL BELOW 341 TGT 336.60/332.50 SL 347

TCS ROCKS ACHIEVED ALL TARGETS !!!!



FOR LIVE MARKET CALLS FILL UP THE FORM HERE>>>>
The nifty 10800 unable to get the momentum in stocks..!!! Historical day in Indian stock market…. All the indices were trading at all time high ahead of corporate earnings and Union Budget. The sensex 35118 nifty future at 10805 and banknifty at 26313 as the government's announcement of a reduction in additional borrowing turbo-charged the domestic stock market.  As fiscal deficit worries eased, what pepped up mood was expectations of big changes in the Goods and Services Tax at the GST council's next meet on Thursday.
Going ahead from here, Nifty has established 10,800-mark as its all-important immediate resistance and we will see the Index oscillating in a defined range, while continuing to resist this point.  It should be noted that the undercurrent remains evidently bullish, and we will not see any significant downsides, but will certainly see some consolidation happening. The levels of 10835 and 10855 will play out as immediate resistance area for the market. Supports come in at 10725 and 10700 levels. Nifty halting its upmove after breaking the 10800 -mark., it continues to display buoyant undercurrent and points towards some rangebound consolidation and no major downsides. All in all, we may see this consolidation persisting for some time, however, the possibilities are very less that any major downtrend will emerge.  At the most, we expect the market to oscillate in a broad range while some volatility will remain ingrained in the market. With no signs of any major downsides whatsoever, we recommend refraining from creating any major short positions. Though cash should be preserved and it is advised to remain highly stock specific. However, long bias should be maintained while approaching the market on a cautious note.
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Resistance: 10835, 10865
Support: 10750, 10700

1 comment:

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