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Tuesday, 24 July 2018

What changed for the market while you were sleeping?

IDEAL STOCK July 24, 2018

Ideal Stock | 12 things to know

A list of important headlines from across news agencies that could help you with your trade today.

The Nifty after opening above 11,000-mark rallied sharply to hit a fresh six-month high and closed around the same level, forming bullish candle on the daily charts on Monday.

The winning of no-confidence motion by Narendra Modi government in the Lok Sabha and cut in GST rates for several products boosted investors' sentiment.

The 30-share BSE Sensex ended at record closing high of 36,718.60, up 222 points while all sectoral indices also finished in the green barring IT.

The broader markets outperformed frontliners with the Nifty Midcap index rising 1.1 percent but despite positive sentiment, more than 300 stocks hit 52-week lows.

Investments and trading are subject to market risks. Please read the disclaimer carefully. SEBI registration number: INA000008747. Ideal Stock is India's leading stock advisory firm. We provide advisory in Nifty future, Nifty option, intraday cash, stock future, stock option Bullion, metals, Energy, NCDX. In India there are so many other advisory firms, they promise a huge profit, but no one will give you profit assurance. But, here in India only we are giving you profit assurance at the end of every month.

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Thursday, 12 July 2018

Nifty50 to continue rally Ideal stock

IDEAL STOCK July 12, 2018

Nifty index to continue rally, may retest lifetime highs

In a technically significant session on Tuesday, the NSE benchmark Nifty ended the day with yet another decent gain of 94.35 points or 0.87 per cent. The Nifty Index Trading has shown a breakout from a large symmetrical triangle formation and has officially failed the downward breach that it had suffered a couple of days back.
From the present structure of the charts, though there may be a likelihood of some minor consolidation at higher levels, Nifty option has set a stage to move towards its lifetime highs again.
We expect a positive start on Wednesday, and are likely to see the Nifty extending its upmove with some possibilities of minor consolidation happening at the higher levels.

Wednesday is likely to see the levels of 10,985 and 11,150 acting as resistance area for the Nifty. Supports may come in at 10,850 and 10,800 zones.

The Relative Strength Index (RSI) on the daily chart is 63.32, and it has marked its fresh 14-period high, which is bullish. The daily MACD stays bullish while trading above its signal line. On the candles, a Rising Window occurred. It is essentially a gap and usually transforms into continuation of the upmove.

The pattern analysis confirms that the Nifty has broken on the upside of a symmetrical triangle formation and has broken out above the resistance of the falling trend line and has created a stage an upmove ahead.

Overall, the Nifty has closed above the upper Bollinger band and this signals continuation of the present rally. Though some pullback inside the band and some minor consolidation is likely, the overall stage is set for the Nifty is to move near its lifetime high once again.

We continue to recommend using each consolidation that the market to make fresh purchases. Overall, a positive outlook is advised for the day.

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