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Investment Idea: Buy MCX, Tata Elxsi, Siemens

Way2wealth | 14 Feb, 2018  | Follow Author | Add to my Favourites 
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Nifty Spot

Trading for the week began with a cheerful opening owing to positive cues from the Asian bourses and we saw decent rally throughout the session. In the process, Nifty ended the session above 10500 marks and gained 0.81%. In our previous update, we had mentioned the two period Bullish divergence and impact of such development seen during Monday. Looking at the hourly chart, we are seeing symmetrical triangle pattern. At this juncture, the hourly 9-45 EMA is still negative hence we term the recent move as a pullback. For the day, 10575 / 10638 are near term hurdles whereas 10500 / 10470 immediate support.

Bank Nifty Spot

The Nifty Bank index opened higher with a mild gap and we saw decent pullback throughout the session. In the process, index ended the session with a gain of around percent. Looking at the hourly chart, index entered inside the Friday’s gap. At this juncture, we term the recent move as a pullback from an oversold territory and the near term trend is still down as the 9-45 EMA on hourly chart is still negative. Going forward, 25840 / 25975 are near term hurdle whereas 25565 / 25430 are intraday support.

Stocks For Today

Name                      Entry                  Target             Stop loss

MCX                   Buy At cmp 740.90     795           718

TATAELXSI          Buy Around 1003       1045          980

SIEMENS           Buy Around 1252       1290          1233

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About Way2wealth

Way2Wealth today has established itself as one of India’s ‘Premier Investments Consultancy Firms’, known for making investing simpler, more understandable and profitable for the investors. They offer a wide range of products & services viz: Equity, Derivatives, Currency Futures, Commodities Trading, IPO's, Mutual Funds, Portfolio Management Services & Depository Services.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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