5 Stocks To Buy Today

Stocks Recommendations:-

The Benchmark index Nifty 50 is trading with the gain of 20+ points at 10544. Overall the market is showing lack luster momentum with positive bias and here are some intraday stocks to watch for.

RELINFRA:- STOP LOSS 355 BUY FOR TARGET OF 375.

DHFL:- STOP LOSS 220 BUY FOR TARGET OF 240.

BANK OF BARODA:- STOP LOSS 107 BUY FOR TARGET 115.

ZEEL :- STOP LOSS 432 BUY FOR TARGET OF 455.

TCS :- STOP LOSS 1900 BUY FOR TARGET OF 1960.

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Top Buy and Sell Intraday Trading Stocks

On the charts, the Indian benchmark index Nifty 50 breaks out of the trading range and it is now consolidating and holding above the downward sloping resistance line. The index has key support at 10250 holding above it on closing Nifty index may rise to 10530-10650 in the coming time.

Stocks Recommendations:-

BUY JSWSTEEL TGT 354 with Stop Loss 336.
BUY HINDALCO TGT 237 with stop loss 225.
BUY MARUTI TGT 6900 with stop loss 6500.
BUY RELCAPITAL TGT 260 with Stop Loss 240.

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Nifty 50 May See Some Bounce Back, But Bounce Back Vulnerable To Selling Pressure.

Indian benchmark index NSE Nifty 50 closed down 149 points to 10303 on the Friday trading session. The main index opens gap down 130 points to 10323 and keeps sliding thereafter to the day’s worst level of 10249 before finally settled to 10303.55.

On weekly time frame, the index has retreated previous week gains and mark weekly high and low of 10710.15 and 10249.60 respectively.

Nifty 50:-On the daily chart, the index has gap down opening followed by a weak closing for the day. The index is in correction phase and witnessed heavy sell off from its 200 days simple moving average. On candle stick front, Nifty forms a Doji candle signs neutrality in the coming time.

To fill the gap the index may see some pull back in the coming time. The index has nearest resistance at 10340 above that it may test 10380-10420-10460-10490 to the upside. The bears are in control of market and any pullback is vulnerable to selling pressure. The index has nearest support of 10270 below that it may test 10240-10210-10170-10130 in the coming time.

Bank Nifty: – The banking index retreats near by 50% of its previous weak gains and closed near its short term support of 24920. The index has nearest resistance at 25170 above that it may trend higher to 25280-25460-25580-25750 in the coming time, whereas below the support level of 24920 it may fall to 24800-24670-24490-24270 in near term.

USDINR: – The Rupee closed with the gains of 27 Paisa against the US Dollar on the Friday trading session. The currency pair marks the all-time high of 74.49 in the past week.

The currency pair is in overbought zone and has witnessed second consecutive weekly losses on the chart. The Rupee may see gaining more strength against the US Dollar in the coming time, if it maintains to keep trading below 73.75-74.00 in the coming time.

Bottom line: – Moneyites.com recommends market may see some pull back, But Any pull back is vulnerable to selling pressure till Nifty and Bank Nifty is trading below 10770 and 26000 respectively.

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Sell Theme in Nifty, Short Term Support at 10773.

Past week, we saw Nifty 50 continues the slide and made new weekly low of 10850 before finally settled at 10930 after loss of 47 points on the Friday trading session.

The index has registered 4th straight weekly losses on the chart and closed near the weekly low with the negative sentiments.

Nifty 50:- The index forms a bearish candle has shown third straight fall on the daily chart. The index trending downwards and additional sell off triggered after US hikes it interest rate policy last week.

The index fall around 900 points in Sep month, nearer to its 200 days simple moving average of 10773. The index has sell theme and may test the key support level in the coming time.

The index has nearest support at 10850 below that it may test 10810-10770-10745-10710 in the coming time. Whereas it has nearest resistance at 10960 above that it may test 11000-11030-11065-11085 in the short run.

Bank Nifty: – The banking index has nearest resistance at 24920 above that it may test 25000-25110-25250-25380 to the upside, whereas it has nearest support at 24750 below that it may test 24670-24560-24460-24370 in the coming time.

USDINR: – The Currency pair hovering near it key resistance level of 73 in the short run. An upside breakout may cause additional sell off in the market or holding below the level may hope of short term relief in the coming time.

Bottom line: – Moneyites.com recommends market to trade with negative biasness till it’s trading below 11200 for Nifty and 26000 for Bank Nifty in the short run. IT sector to be focused in short- term.

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Buy Nifty Put on Rise to Hedge Portfolio Form US Int Rate Policy, Resistance 11205.

The Indian Benchmark index rose 100 points to 11067 by the end of Tuesday trading session. The index open flat and keeping swinging between profit and losses before finally soars 100 points in the last hour and a half trade on news of infusing additional liquidity in the system through CRR cut.

All sector indices are closed in green exception to Realty sector, who’s down 1.72% for the day, whereas Nifty Pharma is the top gainer sector with 2.51%.

Nifty 50:- On Charts the index forms a bullish candle and closed near the day high with positive notes. The index breaks the losing streak after five days on news of aiding liquidity in the system.

The Interest rate policy in US is scheduled to announced today may set higher probability of hiking interest rate today which may further add selling pressure on the higher level.

The index has nearest resistance at 11110 above that it may test 11140-11170-11205 on the upside, whereas it has nearest support at 11030 below that it may test 10990-10955-10930 to the downside.

Nifty50 , Nifty Bank , Share market

Bank Nifty:- The banking index rose on positive news get some stability in the short term from downside risk. The index has immediate resistance 25420 above that it may test 25520-25670-25820 in the coming time. Whereas it has nearest support at 25250 below that it may test 25150-25020-24890 to the downside.

USD/INR:- On the Charts, the Currency pair forms a double bottom may trigger to the higher side on rising interest rate policy. The currency pair target 75-76 in the coming time against the US dollar and a vice versa may give some relief in the coming time.

Bottom line: – Moneyites.com recommends buy put option on rise to hedge your portfolio against short term uncertainty.

 

 

 

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South Indian Bank:- Short Term Stock Pick For 12-15% Upside.

As usual, every downswing in the stock price is followed by an upswing sooner or later.

South Bank, the stock price rose 5.77% intraday to close at 26.60.

On Charts, The stock price action sign for a bullish reversal after broke upside from an inverse head and shoulders pattern. In intraday trade, the stock price breaches the downward sloping trend line and closed above the resistance line with the spurt in volume.

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The stock price peaks 34.75 and since then drops to 22.25, -38 % taking resistance from the previous high of 35.05. it then took reversal holding support from the trend line of the weekly chart around the level of 21.00.

The stock price took more than a month to complete the formation of inverse H&S patterns and gives a bullish breakout yesterday after closing above the neckline with an increase in the volume. On 4h chart, RSI reading is above 70 level may sign the continuation of a trend in the coming time. MACD signal gives bullish crossover with positive divergence and ADX reading at 19.72 currently is only waiting for confirmation of the continued strength in the uptrend.

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The stock price is in positive momentum and may keep trending upside to 27.30/28.40/29.50 and 31.00 in the short run. The uptrend remains intact if the stock price is holding above the previous support line at 24.75 level on a closing basis.

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South Indian Bank:- Short-Term Stock Pick For 12-15% Upside.

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Weekly Outlook:- Bulls are In charged, Will Bank Nifty Join It?

MARKET SUMMARY: – The Nifty50 Indian benchmark index extends gain 0.28% to close at 10681 on last trading sessions of the week. The Nifty50 index opens gap up 31 points but unable to hold on the early gains drops to the days worst level at 10597 before record high closing ever.

On Weekly time frame, The index starts positively with a gap up opening and have the same open low of 10591 for the week and touching an all-time high of 10690. The index keeps trending in the north in the narrow range and gains more than just a  percent to close in the green.

Strong Global cues and Government move to allow 100 FDI in single brand, set the market tone positive.

TECHNICAL COMMENTS: – On the daily chart, the Nifty50 index trending upside in the narrow range and closed near the all-high level. The Nifty50 index holds crucial support at the lower support line at 10550 level and if continues to hold above it may trend up to 10750-10820 on the higher side. On the contrary nifty has immediate support at 10650 below that it may slip to 10600-10550 level in the coming time.

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Bank Nifty Index NSE India banking index is in a consolidation phase with positive biases. The Index set up on the daily chart is in process of having a big move to come in the coming time. The index holds immediate resistance at 25800 level above that 26100-26400 can be targeted on the higher side. Whereas below the immediate support level of 25650 further corrections to 25450-25300 can be seen.

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BOTTOM LINE:- Trading Strategy for Nifty traders, The bulls have the upper hand if nifty holds above 10550 in the short run. Market to see fresh highs if global cues and bank nifty supports.

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Charts Of The Day for 15-20% Upside In Short Run.

India Bulls Real Estate Ltd:-   IBREALEST in NSE cash CMP 229.25  on close after gaining 3.62% in today’s trade. The stock price is trending in a long-term uptrend. The price action in the stock has a long consolidation forms a continuation triangle pattern on the daily chart and breaks out of its upper triangle resistance line in today’s day trading session.

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The stock price on close hold above the upper resistance line of the triangle Whereas RSI holds stands at 61.30. The stock price is also closed above the short and medium term moving average of 20 and 50 days on the daily chart and the ADX signals at 11.88 currently.

The stock price hold the uptrend momentum back from the 50% retracement  of the previous uptrend.

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BOTTOM LINE:- Trading strategy for traders and Investors , The stock price broke the resistance line with the spurt in the volume and if continue to hold above it may trend up to 239/255/280 level in the short run with keeping the stop loss below 210 level in the downside.

 

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Nifty Trading Strategy For Dec Month Expiry, US Tax Bill Passed

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MARKET SUMMARY: – On last trading session of the Week, Indian benchmark index Nifty 50 edge higher 0.50% to close at 10493.  The Nifty 50 index has started the day on a positive note after opening gap up at 10457 and slowly build on the early gain to hit the fresh all-time high of 10501.

On Weekly basis,  On Monday, the Nifty index traded highly volatile on the judgment day of exit poll result from Gujarat and HP state, but soon after a clear victory for BJP in both the state’s Market seems to be got stable and keeps trending upside in a narrow range.

The market added 163 points on a weekly basis to close in green at 10493, while mark weekly high and low of 10501 and 10074 respectively.

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TECHNICAL COMMENTS: – On the daily Chart, The Nifty index broke out of a declining trend channel pattern and forms a small bullish candle in the Friday trade. The main index keeps trending positive while showing some consolidation at the all-time high level.

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On close, The nifty 50 index holds above the short and medium term SMA of 20 and 50 days respectively and RSI stands at 63 level.

On shorter time frame, The Nifty 50 index trading in a narrow range and keeps on consolidation at the higher level. The main index marks an all-time high level with an unsupported volume.

The Nifty index trading well above the short and medium term average on hourly chart and RSI hold at 61 level.

The index has immediate support at 10460-10405 level on the downside, below that some sharp profit booking can be seen. On the contrary, a decisive breakout on the higher may trend nifty up to the target 10540-10600 in the short run.

The US Tax bill passed and signed by the US president, A positive trigger from this may heads nifty for the Fresh high in the coming time.

BOTTOM LINE:- Trading strategy for Nifty traders,  Buy bottoms till Nifty index holding 10400 level on a closing basis and fresh long position only above 10500 level on an intraday basis.

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