October 19, 2017

MTECHTIPS

MTECHTIPS:MARKET UPDATE

BSE index: (19424) Consider for this week…Buy or remain long considering 19354 & 19233 crucial supports keeping stop loss of 19186. Upward side crossover above 19524 it’ll rush up to 19597 & 19688 initially. A close above 19688 it’ll sustain on higher levels & flare up to 19795, 19856-19882 & 19938.
Downward side break below 19186 it’ll fall down correctively to 19047-18987 & 18909-18860, buy on lower levels keeping stop loss of 18755.

Nifty DEC Futures: (5945) Consider for this week…Buy considering 5921 & 5884 solid supports keeping stop loss of 5870. Upward side 5985 & 6006 minor hurdles to watch out for. A close above 6006 it’ll spurt up further to 6051, 6075, 6095 & 6119-6166.
Downward side break below 5870 it’ll fall down correctively to 5827, 5807 & 5770-5761; buy on declines keeping stop loss of 5736.

Bank Nifty DEC Futures: (12451) Consider for this week…Buy considering 12400 & 12260 solid supports keeping stop loss of 12212. Upward side 12538 & 12600 crucial hurdles to watch out for. Crossover above 12600 it’ll spurt up to 12776 initially. A close above 12776 it’ll sustain on higher levels & flare up to 12840 & 12988.
Downward side break below 12212 it’ll fall down correctively to 12079 & 12013 initially. A close below 12013 it’ll fall down further to 11803, buy in panic keeping stop loss of 11773 on a closing basis.

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Mtech

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