BAMMIDI EMERGING ENTRY POINTS –
DAILY ENTRY &EXIT POINTS-BEEP-DEEP —21-10-14
21-10-2014- Tuesday-OVER-VIEW:
As expected, Reliance didn”t move, the bottom support is intact at 926, the low yesterday registered is 927 but slow move, the move above 938 will take it to 951-53 range then it will cross 968-72 range. The OMCs & ONGC today may move again but higher level selling is on the cards as F&O unwinding is not over. The IT counters may resume upwards as the WIPRO, HEXAWARE &MINDTREE bounced yesterday.
22-10-2014-Wednesday-POSSIBLE-SCENARIO:
The BULLs will continue their dominance in the trade today, metals will out perform and pharma may join the race.
DEEP-MARKET ACTION
The Nifty is good above 7935, will easily cross 8050-35 range is crucial but the momentum is showing it may touch 8140 range. Bank Nifty in Bulls grip, good above 15850 shall try to find lower level support and be in trading range.
The good results of SKS Finance may keep the stock to float above 304-06 and will see upmove above 325 to 365-80 range
The ICICIBANK crossed the SHORT-TERM resistance at 1548-52, will easily cross 1640 in the days to come after consolidation.
The YesBank move will be tepid, as resistance at 632-28, will get support at lower lever at 606
The Tata Steel may bounce from lows as the bottom support at 452, the run will take place due to short covering from 463, may easily touch 480 level.
The Reliance Infra and Relcapital are tanking bottom supports at 563-68 and 451-53 range.
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