MARKET MOVEMENT WEEKLY - 25.05.2015 TO 29.05.2015

MARKET MOVEMENT

NIKHIL BHATT – 099 793 80808
PERIOD – 25.05.2015 TO 29.05.2015

NIFTY FO RANGE @ 8360 TO 8609 POINT IN SHORT TERM…!!!

Dear Friends,

NIFTY FO CLOSED @ 8444 AS ON 22.05.2015..!! NIFTY FO has resistance at 8484 – 8509 Level; above which other resistance levels are at 8530– 8560 Level with highly Volatile Trend, In Downside support levels are at 8404 – 8390 Level; below 8390 Level, other support levels are at 8373 – 8360 Levels. I am positive for next week above 8560 Level but be with the trend. Let the market decide further moves. As we are saying from many days Buying is suggested in falls only...and it’s still a better strategy in the given Scenario...!!! Regarding long term positions, it is preferable to remain cautious now...!!

If NIFTY crosses 8560 Level, again then the upper side target is quite high and it may touch 8609 Level in short term...!!!

GOLDEN STOCKS FOR THE PERIOD: 04.05.2015 TO 08.05.2015

                                                                                                                                                            

1. SUN PHARMA (1003): It is suggested to buy @ Rs 993 with SL of Rs 981 for the target of Rs 1019 – 1030; below Rs 981 it can fall up to RS 964 – 953 levels. If it crosses Rs 1033 level than expect nonstop rally up to Rs 1047...!! 

2. INDIAN OIL CORP ( 348 ): Operator based Game start in this stock, Buy @ Rs 336 With SL of Rs 329 for the target of Rs 363 – 373 level below Rs 329 it can show further downfall up to Rs 316…!!!

3. INDIA CEMENT ( 88 ): Buy delivery of this stock near @ Rs 83 with SL of Rs  76 for the target of Rs 97 – 108 level. It is very good for medium term position also…!!! 

 4. REL CAPITAL ( 397 ): This stock is looking very good to buy @ Rs 383  with SL of Rs 376 for the target of Rs 413 –  424 Levels below Rs 376 is  stock shall witness free fall…!!! 

 5. M & M FIN ( 270 ): Buy @ Rs 263 levels considering minor support of Rs  251 and stop loss of Rs 236 for an upper target of Rs 288 – 299 levels.  Below Rs 236 it can slip up to RS 223 – 216 levels…!!!

6. ADANI PORTS ( 348 ): Operator based buying has been there in this stock. Buy @ Rs 336 with SL of Rs 328 for the target of Rs 361 – 373 levels it is very good for long term position also…!!!

7. POWER GRID CORP ( 140 ) : Trading point of view BUY @ Rs 134 With SL of Rs 126 for the target of Rs 153 - 161 level below Rs 126 It can show further downfall up to Rs 117 …..!!!

8. KTK BANK ( 131 ): Buy delivery of this stock near @ Rs 126 with SL Rs 123 for the target of Rs 136 – 144 level. It’s very good for long term position also…!!!

9. TATA POWER ( 75 ): For medium term buying is suggested @ Rs 72 with SL Rs 66 for the target of Rs 79 – 83 level. Below Rs 66 it can show further downfall…!!!

10. JSW STEEL ( 917 ) : It is suggested to SELL with SL Rs 939 for the target of Rs 903 – 890 below @ Rs 890 it can slip up to Rs 881 – 873 level. Above Rs 939 level will take the stock to Rs 951 - 960…!!!