CLOSE- 10121.80 (01.12.17)
Market witnessed a sharp selling pressure and closed the week in a negative territory at the end of trading session. It made a low of 10,108.55 levels on Nifty and 32,797.78 levels on Sensex so far in this correction. It closed near a very crucial support/ reversal levels at the end of weekly trading session. One should watch out market behavior at these levels for short term. If Nifty holds above these levels, it will confirm further extension of rally on upside in short term or else there will be a sharp price wise correction in short term.
Stock Picks:
DCB BANK- BUY
CLOSE – Rs 181.15
TARGET – Rs 195-210
DCB BANK closed the week in a negative territory. It is consolidating in bullish triangular consolidation. It is trading near crucial support of 200-DMA. Risk reward is favorable to buy at current levels. One can buy with a stop loss of Rs 165 for the target of Rs 195-210 levels in short term.
TATA CHEM-BUY
CLOSE – Rs- 712.15
TARGET – Rs 765-800
TATA CHEM closed the week in a negative territory. Its consolidating in range in short term. It managed to hold support of 40-DMA. Risk reward is favourable to buy at current levels. Its weekly momentum indicators are in BUY. One can buy with a stop loss of Rs 666 for the target of Rs 765-800 in short-term.
DABUR INDIA- BUY
CLOSE – Rs- 341.30
TARGET – Rs 355-360
DABUR closed the week in a positive territory. It is consolidating in range for short term. Risk reward is favourable to buy at current levels. Its weekly momentum indicators are in BUY. One can buy with a stop loss of Rs 324 for the target of Rs 355-360 in short-term.
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