BANK NIFTY WEEKLY STUDY
Last week we inform that in bank nifty 12800 is very much important on closing basis, it made high of 12870 but not able to sustain above 12800 and given a close at 12742 and this produce some reversal in trend as a failure of proper breakout.
Now as per current chart development we can see that even bank nifty taking support on trend-line now.
Last session it has given a “DOJI” candlestick pattern on important support line.
Currently we can see that price has taken a support but rsi able to break the recent low, it’s a kind of “POSITIVE DIVERGENCE” development on chart which can indicate that, if bank nifty able to move above 12700 level on closing basis then it would be a reversal signal which can lead for a movement till 13000-13300-13700 also.
But if bank nifty able to close below 12400 level then some possibilities of correction we can expect in coming days till 12250-12000-11800 levels.
Last week calls performance
SELAN 505 TO 569
SIEMENS 730 TO 775
SRTRANSFIN 750 TO 779
HINDALCO 128 TO 143
CCL PROD 52 TO 58 STILL HOLD DELIVERY FOR LONG TERM RETURNS WITH 35 SL TARGET 70-120-185
ALSTOM T&D 230 TO 260
VOLTAS 163 TO 166
CALLS FOR CURRENT WEEK
Buy SPECILITY above 152 sl 130 target 185-220-250
Buy JSWSTEEL above 1070 sl 1000 target 1150-1250-1400
Buy RELINFRA above 465 sl 460 target 485-505
Buy CIPLA above 407 sl 395 target 425-470
Buy MOIL above 262 close sl 230 target 290-350
Buy EIDPARRY in a range of 155-160 sl 140 target 188-220
Buy INDIACEMENT above 67 sl 62 target 75-85-95
Buy GODREJPRO above 235 close sl 200 target 270-350-500
Buy TVSSHRICHAK above 335 sl 290 target 385-450-525
Buy LICHSGIN above 250 sl 230 target 280-310
Buy ABBOTT in a range of 1800-1850 sl 1600 target 2500-3200-3800
Buy GULFOIL above 116 close sl 100 target 135-155-170