DAY PERFORMANCE:
Nifty has run within range of technical supports with volatility, with out caring much news related to fundamentals. 7920 level, which we thought of minor resistance, has turned as major resistance, as peer markets started giving up their morning gains. Even though Bank Nifty stood for support to Market, Nifty could not break the resistance level of 7930. As we mentioned in our morning note, tomorrow SGX Nifty to be observed before going for trade on 16th.
STOCKS FOR DAY:
LICHSGFIN: BUY > 317 TRG 324 SL 312
ACTUAL: LOW: 320.10 HIGH: 339.95
LIBERTY: BUY > 313 TRG 324 SL 305
ACTUAL: LOW: 294 HIGH: 319 (QTR . RESULTS HAVE GIVEN VERY WELL I.E. > 24.5%)
SUNPHARMA: SELL < 810 TRG 793 SL 821
ACTUAL: LOW: 799 HIGH: 815 (STOCK HAS NOT PARTICIPATED MUCH BY OPENING WITH OPEN = LOW SAME PRICE.)
Liberty shoes profit booking is one example in reference to our yesterday's evening note, regarding mob physiology. In this case, profit booking taken place, through one of the well known profit booking method i.e. SELL AT GOOD NEWS. BUY AT BAD NEWS. (NOT FUNDAMENTALS). We wish you happy holiday (extra holiday).
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