MARKETS - 4th Jan Week
Nifty Last week performance:
Nifty started the first week of 2016 on a terrible note. It is down with a loss of 4.5% for the week. The index is back to where it began the upswing three weeks back. It is currently placed above an important support level of 7500. Market participants will be watchful of this level as a breach below this could attract further selling.
Last Week News and Highlights:
The meltdown seen in Chinese stock markets took most of the headlines this week. Trading was halted twice this week after the Shanghai Composite Index hit the circuit breaker limit of -7%. The first crash was witnessed on Monday. The other came on Wednesday where Chinese markets were open for all of 29 minutes before the blue-chip CSI 300 index fell by 7%.
China using a weaker currency to spark growth for the struggling economy. The above woes were spilled over to global markets too.On Thursday, China cleared that it would suspend its new circuit breaker mechanism that has been at the center of its stock market unrest.The announcement gave some respite to Chinese markets during the end of the week.
Now near term nifty trend is down.
Now it is very challenging for us to show profits . we are waiting for this down trend , now we can test our strategy in down trend also. If you are trading please use stop loss strictly .
Recommendations Techno Funda Picks for week 10th Jan Week:
Weekly Support and Resistance Levels
Also read Our view on Nifty .
Nifty started the first week of 2016 on a terrible note. It is down with a loss of 4.5% for the week. The index is back to where it began the upswing three weeks back. It is currently placed above an important support level of 7500. Market participants will be watchful of this level as a breach below this could attract further selling.
Last Week News and Highlights:
The meltdown seen in Chinese stock markets took most of the headlines this week. Trading was halted twice this week after the Shanghai Composite Index hit the circuit breaker limit of -7%. The first crash was witnessed on Monday. The other came on Wednesday where Chinese markets were open for all of 29 minutes before the blue-chip CSI 300 index fell by 7%.
China using a weaker currency to spark growth for the struggling economy. The above woes were spilled over to global markets too.On Thursday, China cleared that it would suspend its new circuit breaker mechanism that has been at the center of its stock market unrest.The announcement gave some respite to Chinese markets during the end of the week.
Now near term nifty trend is down.
Now it is very challenging for us to show profits . we are waiting for this down trend , now we can test our strategy in down trend also. If you are trading please use stop loss strictly .
Recommendations Techno Funda Picks for week 10th Jan Week:
| STOCK | Rec Date | Rec Price | CMP | Return | Remarks |
| JAGRAN | 02-Jan-16 | 159.7 | 168.35 | 1.71 | |
| HFCL | 10-Jan-16 | 22.85 | 22.85 | - | |
| SJVN | 10-Jan-16 | 32.5 | 32.5 | - | |
| BIOCON | 27-Dec-15 | 507.55 | 518.1 | 2.08 | Exit .(10 -Jan) |
| KARURVYSYA | 27-Dec-15 | 479.6 | 481.3 | 0.34 | Exit .(10 -Jan) |
| VAKRANGEE | 27-Dec-15 | 176.65 | 174.95 | -0.34 | Exit . (02 -Jan) |
| CUB | 02-Jan-16 | 92.3 | 89.6 | -0.53 | Stop loss hit. |
| Grand Total | 3.79 |
Weekly Support and Resistance Levels
| Stock | S3 | S2 | S1 | PP | R1 | R2 | R3 |
| JAGRAN | 146.92 | 151.48 | 158.87 | 163.43 | 170.82 | 175.38 | 182.77 |
| HFCL | 14.03 | 15.77 | 18.93 | 20.67 | 23.83 | 25.57 | 28.73 |
| SJVN | 26.73 | 28.17 | 29.83 | 31.27 | 32.93 | 34.37 | 36.03 |
Also read Our view on Nifty .
Disclaimer : Our content is intended to be used and must be used for informational purposes only.
The strategy may not be suitable for you.You may take independent decision at your own risk.
The strategy may not be suitable for you.You may take independent decision at your own risk.
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