The benchmark indices rallied smartly on the back of positive global cues and ended the session as well as April series on a strong note. This uptrend was supported by technology, oil & gas, metal, rate sensitives and infrastructure stocks followed by midcaps and smallcaps. The Sensex surpassed the 11,400 level while the Nifty closed above the 3450 level; both the indices recovered all of Tuesday's losses.
Our calls where
Buy in NSE Futures UNITECH Having Lot 9000 @ CMP 42 for Target of 43.85 - 47.15 Keeping StopLoss @ 38.20 - Target Achieved
Buy in NSE Futures ICICIBANK Having Lot 700 @ CMP 454 for Target of 490.13 - 514.77 Keeping StopLoss @ 427.43 - Target Pending but Close @ 479.40 and High @ 481.30
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The benchmark indices saw significant sell-off in today's trade and closed the session sharply lower due to weak global cues, which tanked on the renewed concerns over financial systems. Profit booking was seen in rate sensitives, infrastructure, telecom and oil & gas exploration. The Sensex broke the 11,000 mark during the day while the Nifty closed below 3,400 level.
Our Buy Call today was PIRHEALTH in FUTURES having Lot size of 1500 at 232 for a Target of 237-242 given at 12:17 p.m pm.The call performed well hitting the second target of Rs 242 at 1:42 pm. Good Take home Profit of Rs 15000/- (1500 x 10).
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Today, technical analysis is accepted as a viable analytical approach by most universities and brokerage firms. Rarely are large investments made without reviewing the technical climate. Yet even with its acceptance, the number of people who actually perform technical analysis remains relatively small.To Learn more About Technical Analysis Visit http://www.tipsindia.net/technical-analysis
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