Morning Stock Market Tips 06 March

CNX Nifty (Cash Levels) Technical Picture
Nifty Intraday Short Term
Trend Reversal 6310 6000
Support 6310-6280 6000
Resistance 6365-6400 6415


Recommendations for the day
1. Buy Nifty Mar Future in range of 6335-6340
2. Buy Grasim Industries in range 2630.0-2635.00
3. Buy Uco Bank in range of 66.80-67.00
4. Sell Tata Power below 77.50
*All Recommendations are of Mar Future

Nifty Future Recommendations
CMP :6352.30
Comment : Future premium decreased from 36 points to 24.
Testing upper end of the Green channel and
previous resistance area.Reverse if fails to reach
or sustain above 6380-90
Action : Buy in the range of 6335-6340
Targets : 6370/6390/Higher
Stop-loss : 6320.00

 

Grasim Industries (GRASIM) Mar Future
CMP : 2648.70
Comment :Breakout from short term trading range and close
above falling channel and 50-day EMA suggest
bullish momentum. Volumes and oscillator
support the bullish view
Action :Buy in the range of 2630-2635
Targets : 2669/2685/Higher
Stop-loss : 2612.70

 

Uco Bank (UCOBAN) Mar Future
CMP : 67.65
Comment :price rising from short term basing pattern near
historical support indicate further upsides.
Momentum is also validated by bullish crossover
of 3 & 13 day EMA
Action :Buy in the range of 66.80-67.00
Targets : 68.80/69.20/Higher
Stop-loss : 66.20
 

Tata Power (TATPOW) Mar Future
CMP : 77.80
Comment :Stock breaking below rising trend channel after
reacting from 61.8% retracement of preceding
major decline. RSI in sell mode
Action : Sell Below 77.50  Targets : 76.70/76.40/Lower
Stop-loss : 78.10