Thursday, August 30, 2012

Nifty Expiry- Jackson Hole Meet Today 30 August

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The Nifty opens lower for fifth consecutive session on the final day of the expiry. The focus will now shift to West awaiting decisive move from central bankers’ meet at Jackson Hole.



NIFTY CHART ANALYSIS

The action formed the biggest Bear Candle of the current Settlement ending today. The candle's high-low levels exactly touch both sides of the channel we showed. The low is now testing the previous support of August 10 at 17471. After heavy losses, watch if the nearby levels provide some support again. The bias would remain negative otherwise


CURRENCY UPDATES AND TIPS

ICICI direct expects the US dollar to attract some buying on declines against the Indian Rupee. Buy USDINR September future above 55.88 with a stop loss of 55.79 and target of 56.05


TOP 10 STOCKS TO TRADE TODAY

1) Tech Mahindra Ltd
2) SKS Microfinance Ltd
3) Orchid Chemicals & Pharmaceuticals Ltd
4) ONGC Ltd
5) Mphasis Ltd
6) Wipro Ltd
7) L&T Ltd
8) Tulip Telecom Ltd
9) McNally Bharat
10) IVRCL Ltd

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