Markets underwent bloodbath on Thursday on the back of global weakness and April series F&O Expiry too affected the volatility and finally closed the disappointing session on weak note losing approx 1.7%. In the global front, Bank Of Japan made the global markets to slide as they kept their negative interest rates unchanged. They also lowered their GDP forecast to 1.2% from 1.5% earlier in the financial year 2016-17.
All the sectors closed in red where FMCG and Metals hit the most while Realty was the only sector closing in the green.
Global Market Updates:
- Global equities have fallen after the Bank of Japan caused a bit of a surprise and decided not to add to its massive stimulus program.
- Samsung Electronics Co Ltd tipped a pickup in Q2 profits after reporting a 12 percent earnings gain in January-March on the back of “robust” sales of its Galaxy S7 smartphones.
Intraday superstar calls (Premium Section)
BANKINDIA EQ has been consolidating around the support levels since last few consecutive sessions and now is expected to give a negative breakout from this zone.
SELL BELOW 95.40 TARGETS 94.45/93.45/92.45 SL 96.60.
FINANTECH EQ is facing constant resistance at higher levels on daily charts and 100 day EMA is also seen nearby, hence stock may selling pressure if surpasses the near support.
SELL BELOW 86.10 TARGETS 85.25/84.40/83.55 SL 87.15.
Multibagger call (Premium Section)
JETAIRWAYS EQ after showing a steep rally from bottoms facing 100 day EMA is now consolidating near to the strict resistance level on daily chart as shown in the chart above. If it sustains above the level so given, then it may rise above giving breakout from the rough pattern so observed.
BUY ABOVE 646.50 TARGETS 655.50/665.50. MAINTAIN SL OF 639.
Trifid Special call (Premium Section)
TCS EQ after finding support of the 100 day EMA as seen on daily charts had shown short bull rally since last few successive sessions towards the trend line acting as resistance as seen in the chart above. This IT stock can further head towards higher resistance marks if it strongly holds above the level so given.
BUY ABOVE 2553.50 TARGET 2600 SL 2515.
Major Indices Movement
Nifty opened strong and was trading at high notes, but sudden fall was seen in the beginning on the back of global cues and that was a non-stop bear rally which dragged the index from 8000 to 7850. If this is a point of reversal, then 780 is seen as immediate intraday support while index needs to sustain above 7900 to again gain strength.
Bank Nifty also dragged heavily as other indices and was unable to hold the psychological mark of 17000. On daily charts, as per our previous report, we have indicated that the upper trend line so shown in the chart above may act as reversal for the index and so near support can now be seen around 16450 while major resistance is still kept near 17100.
Up’s and Down’s
Event Calendar (18th April to 23rd April ’16)
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