Stock Market Technical Report 14 November By trifidresearch

Markets witnessed choppy movements in the previous session and gained in the first half due to appreciation in rupee but soon dragged in the later half and closed in red for consecutive seven sessions. Nifty future took strong support of 6000 mark and if this bearishness continues then major support is seen around 100 day EMA of 5950. If it sustains in the range of 6100-6140 then it may lead to some correction and closing in this zone will confirm this correction.

TREND: SIDEWAYS

SUPPORT      :  5990 & 5940

RESISTANCE:   6090 & 6150

DAILY MARKET TREND

  • Sensex trades 63 points lower; rate-sensitives fall.
  • SBI Q2 net down 35%;increase in NPAs not as bad as feared.
  • RCom up 6% on strong Q2 earnings.
  • M&M Q2 net up 10% at Rs 990cr on other income, revenue dips.
  • BPCL slips over 2% as Q2 PAT falls to Rs 931 crore.

INTRADAY STOCK CALLS

ITC EQ SELL BELOW 313 TARGETS 309.90/306.90/303.90 SL 316.20

TITAN EQ SELL BELOW 230 TARGETS 226.70/223.40/220.10 SL 233.30

FUTURE STOCK CALLS

HINDALCO FUT BUY ABOVE 115.50 TARGETS  116.50/117.50/118.50 SL 114.50

LICHSGFIN FUT SELL BELOW 208.50 TARGETS  206.50/204.50/202.50 SL 210.50

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Stock Market Technical Report 14 November By trifidresearch

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