Auropharma:- Short Term Stock Trading Idea.

Moneyites May 17, 2019 No Comments

Short Term Stock Tips 

Auropharma: – Aurobindo Pharma stock price is up by 16.75 points or 2.36 % to 726.30 in today’s trading session. The stock price is trading in a broader range of around 140 points since 6 Sep 2018 to till date. The trading range has support at 690 level and resistance placed at 830 level. In today’s trading session, it is the fifth time the stock price bounces back from the support line after testing it.

On indicator front, RSI at 36.39 near the oversold zone. In addition to this, we have also witnessed some buying interest in the stock. The stock price if continuing to hold above the support line may test the upside of 770-830 in the short to medium time frame.

Moneyites.com recommends buying the stock at 726.00 and accumulate more near 710 level with a stop loss of below 690 for the upside of 770-830 level.

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Indigo:- Short Term Stock Trading Ideas

Moneyites May 16, 2019 No Comments

Short Term Stock Tips

Indigo: – Indigo has closed below the trend line and even below its support around 1520 in today’s trading session,  going ahead we may continue to see more downside in coming trading session, one may sell on rising with targets of 1450-1420  with the stop loss placed at 1540 levels. Derivatives data analysis is also showing huge short build-up, with the increase in open interest and decrease in price, traders must watch out for a rise near 1520 levels and short can be created for the targets of 1450-1420 levels.

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Axis Bank:-Short-Term Stocks trading tips

Moneyites May 15, 2019 No Comments

Axis Bank:-Short-Term Stocks trading tips

Short term stock tips

Technically Axis bank has closed below the trend line and even below its support around 725 in today’s trading session, going ahead we may continue to see more downside in coming trading session, one may sell on rising with targets of 675 with the stop loss placed at 742 levels. Bank Nifty is also showing weakness which is also supporting the view on axis bank for short side.

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The Recent Correction Rally in Nifty50, Is a Great Buying Opportunity?

Moneyites May 14, 2019 No Comments

Summary: – Today, The Indian benchmark index Nifty50 closed in the green after adding 73 points to 11222 after 9 days of straight fall. The index opens on a flat note and trading with negative biases in the first half. But in the second half, the index rallies from the day low of 11108.30 to the day high of 11294.75. The market breadth is positive with 34 shares trading positive for every 16 shares trading in the red.

The Recent Correction Rally in Nifty50, Is a Great Buying Opportunity?

Here We are giving some of the supportive facts for the above statement.

1)The recent bullish rally that we have in Nifty50 starts from 26 Oct 2018 to 18 April 2019 of 1852 point has 38.2% retracement level at 11146 and 50% retracement level at 10928.

2)In addition to this, The six-month bullish rally has a support line again finding support near the level of 11000.

3)The recent correction rally has brought down the factor of overbought from the market.

4)Again 11000 has a psychological level will act as a support in the short run.

5)Option Data also suggest 11000 strong support for May series.

6)US-China Trade War:- China retaliates after The US imposed increased tariffs on Chinese goods worth $200 Billion may call for a Truce in the short run. As the two worlds, biggest economies have a time of the month to sign the deal.

7)On the domestic ground, The Biggest event for the financial market is the Lok Sabha election. The result for the election 2019 is scheduled to announce on 23rd May 2019. The Ruling Party has a good chance to form the government for the second time. In addition to this,  PM Modi led BJP govt strong retaliation to Pakistan on Pulwama Attack further boost the chance in the ongoing election.

Some bounce back can be seen from the psychological level of 11000 but The Nifty50 index enters the positive zone only if decisively breached and hold the level of 11370 on closing basis.

Nifty50 Daily Chart Moneyites.com

Nifty50 Resistance Level of 11250-11295-11340-11370

Nifty50 Support Level of 11190-11150-11110-11070.

Bottom line:- Buying dips around 11020-11120 with a stop loss of below 10920 for the target of 11500-11700 can be a profitable move in a short time. Below the support level of 10920, Nifty50 may show some more correction to the level of 10780-10660.

 

 

U.S.-China Trade War Impact on India

Moneyites May 11, 2019 No Comments

Last Week, In a surprising statement, The U.S. President Donald Trump raised tariffs on Chinese goods of worth $200 Billion from 10% to 25% form immediate effect. The two days meeting with a little hope of ties between the two countries ended on Friday as a futile activity and finally, the U.S. went by the plans of raising tariffs on Chinese goods. Soon after this, the Beijing Says, we will retaliate but how not specify now.

After going for it what we see:-

1)Firstly, As the meeting goes ended in deadlock. Both the countries are not looking in a mood to reconciled here and so trade war continues.

2)As per the statement, If China will retaliate with imposing higher duties on the US goods. As of now not decided yet how and when. In one case, The US will not take the pain and looks for the resolution. But in another case, if the US retaliates with the fresh imposition of tariffs on Chinese goods worth $325 billion as mentioned. The situation to get more serious and cause damages to the world economy by every retaliation.

One thing is for sure, that the US may keep imposing new tariffs on China but will not do it on its own cost, So till that time, some more imposition like this may be there.

3)Finally, Trade war is not good and the two economic power engines trade war not only affect both the economy, but the global economy as a whole and the result can be horrible. The world financial market has losses of around $2.1 Trillion so far from the trade war in last 5 days. So sooner or later, the only option left is a free trade policy.

U.S.-China Trade War Impact on India

U.S.-China Trade War Impact on India:-

  1. Short-Term:- Raising tariffs and implementation of laws take time, so it has a very limited effect in the short run.
  2. Medium-Term:- In Medium-term, Trade war will start hurting both the economy and if this time utilized rightly this can be converted into an opportunity for the Indian economy.
  3. Long-Term:- In the long term, the trade war fire will catch the global economy and in this case, even the Indian economy is no exception.

Note:-In our opinion, these are the above possibilities and If the trade war continues for a prolonged period the financial losses will be so big that it may push the global economy into the recession.

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Nifty50 Breaches the Trading Range, Fresh Selling to Drag it Further.

Moneyites May 8, 2019 No Comments

The Indian benchmark index NSE Nifty50 drops another 100 points today to 11497, after two days of the US President Donald Trump statement of raising tariffs on Chinese goods of worth $200 Billion from 10 to 25% form immediate effect.

The global market around the globe took the U-turn and trading in red after the US-China trade tension.

Nifty50:-Technically Nifty50 completed the Head and Shoulder pattern and closed below the support line in today trading tension. The Nifty index opened gap up but surrendered all the gains and closed near the days low.

The Nifty index formed a long bearish candle and large volume favours more downside in the coming time. The index crucial support of 11549 will now act as a resistance and holding below this level, Nifty may target downside to the level of  11460-11390-11320.

For now, bulls are resting above the level of 11549 above that it may test 11620-11670-11740 to the higher side.

The trade tension news may add fuel to the fire and add fresh selling in the market. Moneyites.com recommends selling at the current level and add further on rising till 11550 with stop loss above 11660.

 

H&S Pattern in Nifty50

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Nifty50 Locked in Range, Wait For Directional Trade.

Moneyites May 3, 2019 No Comments

The Indian benchmark index Nifty50 trading 20 points up at 11745. The Nifty50 index is in positive trend and keeps trading in a sideways range of 11540-11860 from the last five weekly trading session.

The Nifty50 index locked in the trading range of 320 points. The level of 11860 will act as a resistance in the coming time and above this level, fresh buying may be seen in it. The main index if fails to hold this level may test 11650-11540 to the downside.

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Gold Price May Trade Muted, Ahead of Fed Policy.

Moneyites May 1, 2019 No Comments

MCX Gold:- Gold price drops -0.54% to 31765 by the end of Tuesday trade. On a longer time frame, Gold prices are trending in a broadening wedge pattern. The widening range placed resistance at the level of 32400 and support at the level of 31000.

Whereas on short to medium time frame, Gold prices are trending downside in a downward trending channel, and it may face resistance at the level of 32000-32400 to the higher side and below the nearest support level of 31700, it may test 31400-31000 in the short run.

On account of Labour day, Market to remain closed in the first session today.

The federal reserve scheduled to announce the policy today expected to keep the interest rate unchanged may push the prices up in the near term.

On an intraday trading basis, the gold price may go for a mute session. The gold price has immediate support at 31700 and below that, it may test 31620-31570. Whereas it has the nearest resistance at 31770 above this it may rally upside to the level of  31820-31860.

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Gold Price May Trade Muted, Ahead of Fed Policy.

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Nifty50 sell on high, Resistance placed at 11820.

Moneyites April 30, 2019 No Comments

Market Summary:- The Indian benchmark index NSE Nifty 50 closed higher 112 points to 11754 on the last trading session of the week.  The Nifty index has opened gap up around 60 points in the early trade and keeps on holding the gain thereafter to capitalise in the second half. On the sector front, Base metals index is the biggest gainer rose 1.86%, whereas the Auto sector hammered most down by 1.10%.

On the Weekly chart, The index remains flat, forms Doji candlestick pattern sign neutral in the week ahead.

Nifty 50:- The Nifty 50 index form a strong bullish candle and closed near the day high with the positive note. The index has nearest resistance at 11790-11820 level in the week ahead, holding above this level of 11820 only it may see fresh buying.

Whereas fails to hold the level of 11750  it may test 11720 and below this, it may correct down to 11690-11660 in the short run.

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