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Nifty outlook and recommendations for 27'Dec 17

Way2wealth | 27 Dec, 2017  | Follow Author | Add to my Favourites 
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Nifty Spot

On Tuesday, the Nifty index opened on cheerful note and made its opening tick above 10500 however the profit booking pressure immediately pulled the index lower. The sharp surge during the penultimate hour of trade allowed index to recoup its early morning gains. In the process, the Nifty index ended the session above 10500 marks for the first time. After a series of an attempt, the Nifty index successfully closed above the 10500 levels. Going forward, Nifty has an immediate resistance near 10565 above which we may see a further up move towards 10600. Lower side, 10500 / 10465 are near term support.

Bank Nifty Spot

Although we saw decent traction in the Nifty index but the Nifty Bank index continued to underperformed and traded in a narrow range. During yesterday, index opened marginally higher however we saw gradual decline in the index. Post mid-session, we saw recovery which eventually resulted into a flat closing. At this juncture, there is no major change on chart structure hence traders are advised to stick to stock specific trading opportunities. For the day, 25760 / 25845 are intraday resistance whereas 25590 / 25510 are intraday support.

Stocks For Today

Name                      Entry                        Target             Stop loss

SUVEN               Buy Around 194.50         203.50             191

PETRONET         Buy Above 255               265                  249

SUNPHARMA     Buy At cmp 541.30         563                  533


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504.70 -4.15
504.50 -4.25
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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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