Nifty Shows Positive Sign, Technical Views For Tomorrow
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UCO Bank
Recommendation : Buy above 119
CMP : 118.10
Target : 125-134
Stoploss : 117
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Copper prices on Wednesday jumped to touch a new four month peak as the US reported strong manufacturing data for the month of August which showed that factory activity in US rose to 56.3. The red metal prices also took cue from China which reported its purchasing managers index (PMI) soared to 51.7 in the month of August. While the weakening seen in dollar added to the optimism in the markets.
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NIFTY FUTURE RECOVERED FROM LOWER LEVELS. NIFTY FUTURES MAY OPEN AND TRADE IN POSITIVE ZONE DUE TO GLOBAL SENTIMENTS. IF IT IS TRADES ABOVE 5500 SHORT SELLERS MAY TURN PANIC AND COVER THEIR SHORTS. FOR TODAY NIFTY FUTURE WILL TAKE SUPPORT AT 5455 AND MAY RALLY UPTO 5500-5540, BELOW 5455 MAY SLIDE UP TO 5430 TO 5380.
NIFTY-50 INTRADAY CALL:-
Buy 5500 Nifty Call Option at Rs 73 with intra-day target of Rs 81 and stop loss of Rs 69Jackpot Call for 2 september:-
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<H1>Buy Ashok Leyland Ltd. above 75 stop loss Rs 72 target 82</H1>
source: http://stocks-intraday.blogspot.com/
Buy Reliance Natural Resources Ltd. above 38.40 stop loss Rs 37 target 42
Buy Indiabulls Real Estate Ltd. above 176 stop loss Rs 171 target 184
Buy Fortis Healthcare Ltd. above 159 stop loss Rs 154 target 163.65
After two days of profit bookoing today it was a cheerful day for the Indian markets which traded positively and closed with broad gains on the back of buying interest in almost all sectors following supportive global cues. Nifty has made a decent come back near to the previous higher levels and technical it has moved above the middle band of the daily Bollinger Band. It is having a short term upside target(resistance) of 5,493 and 5,505 while it is getting good support at 5,408 levels for intraday tomorrow.
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Spot Gold prices gained around 1% to close at $1247/oz yesterday. The yellow metal prices touched a five-week high of $1249/oz on Tuesday as uncertainty in the global financial markets attracted demand for the safe-haven investment. Gold prices on the MCX platform gained slightly more than the international prices on the back of deprecation in the Indian Rupee. Spot Rupee closed at 47.07 against the dollar on Tuesday, after touching an intra-day high of 47.15 against the greenback. The SPDR gold trust reported yesterday that its holdings rose to 1,302.508 tonnes by Aug. 31 against 1,298.556 tonnes as of Aug. 30th.
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