Today's Global Cues, Not Supporting , Hence NIFTY FUTURE, May Fall Further in Today's Trade......,, Today, Below 2819 Expect, More and More Weakness....... In Nifty Future, Below that Mark, Nifty Will Try to Hit 2797 and then, 2783 tooo........ Last Hope for Bulls is 2766 Mark, Today 2766, Mark Will Act as a TREND DECIDER.....
Nifty, If Breaks that Level, Expect Blood-Bath Once Again in NIFTY....Will Hit 2750 and then, 2737 in Panic.....
The stock of Hindalco might be under pressure as the news that the company plan's to use its share premium reserves to write off expenses incurred by the company on international acquisition and domestic expansion.Other metal stocks might be under pressure as metal prices cooled off on LME. Suclon Energy might fall for the second day in a row after the promoters disclosed that they have pledged 25.9 percent of the company’s shares.
Akruti
We recommend a sell in Akruti City stock from a short-term trading perspective. It is evident from the charts of Akruti City that after taking support at Rs 550 in mid-January, which is also a 52-week low, it bounced back. From this trough to the recent high at Rs 1,052, the stock has almost gained 91 per cent. However, the stock encountered significant resistance in the band between Rs 1,035 and Rs 1,050 recently. The daily relative strength index (RSI) has reached overbought levels. The stock reversed lower from this resistance band and declined 2 per cent on February 16. Moreover, with this decline we observe that the daily RSI is displaying a negative divergence. The daily moving average convergence and divergence indicator has also reached overbought levels. We are bearish on the stock from a short-term horizon. We anticipate it to decline further until it hits our price target of Rs 905 in the upcoming trading sessions. Traders with short-term perspective can sell the stock while maintaining a stop-loss at Rs 1,064.