Markets gained over 3 per cent this week and made up for the losses incurred in the previous week due to value buying opportunity and positive global cues. Both the S&P BSE Sensex and the Nifty 50 regained psychologically important levels — the 23,000 level for the former and the 7,000 level for the latter.
Metal sector was the biggest gainer as People’s Bank of China set higher reference rate for the yuan against the dollar followed by value buying opportunity and stock-specific positive announcements in select public sector bank stocks.
Going ahead, markets are likely to remain volatile on account of the Budget session slated to begin from February 23 and expiry of derivative contracts.
Railway stocks as well as sectors relying on it, such as steel, cement, coal, iron ore and fertiliser, are likely to be in focus on account of the Railway Budget scheduled for February 25.
>>> Nifty Weekly Chart <<<
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Price took support from 200 WMA. Last week Price almost near 50% of Previous Week Shows some positive momentum.
>>> Nifty Daily Chart <<<
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Price may continue to rally, if RSI holds the break out as shown on chart.
>>> Nifty Hourly Chart <<<
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7266 & 7366 acts as a Resistance. RSI on a IHS pattern. Above 7366 Price may zoom.
>>> Bank Nifty Weekly Chart <<<
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Bank Nifty Weekly Chart - Got Support from 200 WMA.
>>> Bank Nifty Hourly Chart <<<
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14590 & 14774 remains as a resistance for the current upmove.
>>> AdaniPort - Profit Booked <<<
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We have booked profit on Adaniport for the second time with Rs. 17600/-
>>> DLF - Profit Booked <<<
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Buy given @ 81 and Booked Profit @ 89 with a Good Profit of Rs.40,000/-
>>> Crompton Greaves - Profit Booked <<<
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Buy given @ 122 and Booked Profit @ 133 with a Good Profit of Rs.33,000/-
>>> Performance till 19th Feb, 2016 <<<
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