DAY PERFORMANCE:
We wish you happy trade for tomorrow. Be careful with News driven price hikes. Generally news driven price spikes will not sustain for long.
Every Day Stocks
Market gives new experience, even to Maestro of Share Markets.
Yesterday afternoon session started building of premium in Nifty
Futures, which ended with 53 pts. As we all know, pull back rallies
will not give much time to dress up ourselves. Since
FIIs/professionals work with norms (profit vs cost), yesterday itself
they have squared off their positions, which we have mentioned (selling
of Derivatives and Equities by FIIs) in our morning report. As Peer
Markets opened with Green our Nifty also opened with Gap Up.
Today
many Traders might not be comfortable with market, as it started with
Gap Up. Who does not know how to deal with Gap Up and High Premium
Markets, might have lost money also, irrespective of positive closing.
As per Technical Analysts observation, 70% of the Gap Ups will be
covered in the same trading session, when ever Market is running with
normal premium. If the Future Premiums are more than normal, we have
to trade with near high (eod) SL along with Trailing Stop Loss from
today's entry level. Today also Market has followed same pattern.
Since yesterday Nifty Futures closed with higher premium (53pts) and Gap
Up opening was taken place, pull back might have taken place along with
short coverages by which market closed with 118 pts plus. Nifty also
halted at near to the recent high of 7978 (point correction started) and
closed at 7961.
STOCKS PERFORMANCE:
Sail: Buy > 71.75 Trg 73/73.50 SL 71
ACTUAL: LOW: 71.65 HIGH: 73.80
Apollotyres: Buy > 213 Trg 218/220 SL 208
ACTUAL: LOW: 214.05 HIGH: 220 (STOCK DONE DOWN WARD JOURNEY)
Hexaware: Sell < 191 Trg 184 SL 197
ACTUAL: LOW: 189.20 HIGH: 192.70 (MOST OF THE DAY STAYED IN NARROW RANGE)
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