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   Money Times Volume No. XXVII
   Edition No.25 Dated: 230418
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Critical Resistance at Gap 34874-35066
Lead Story
Overbought conditions could trigger correction
The markets continued to move higher on the back of positive global and domestic cues. However, lack of follow-up buying support at higher levels capped the market gains. Regular bouts of profit-booking and selling pressure were witnessed around Nifty 10600. The FIIs remained net sellers in the cash segment but were seen hedging their positions as net buyers in the derivatives segment. The DIIs were also net buyers during the week. The breadth of the market remained weak amidst high volumes. Crude oil prices held firm trading near the three-year high as the OPEC-led supply cuts gradually sucked the excess crude supplies. Brent crude prices hovered around $73 per barrel. On the domestic front, the WPI inflation numbers were lower. The earnings season started on a good note.

Weekly Uptrend Stocks
Let the price move below Center Point or Level 2 and when it moves back above Center Point or Level 2, then buy with whatever low was registered below Center Point or Level 2 as the stop loss. After buying, if the price moves to Level 3 or above, then book profits as and when the opportunity arises. If the close is below Weekly Reversal Value, then the trend will change from Uptrend to Downtrend. Check on Friday after 3.pm to confirm weekly reversal of the Uptrend.
Scrip Last
Close
Level 1 Level 2 Center
Points
Level 3 Level 4 Relative
Strength
Weekly
Reversal
Value
Up Trend Date
Weak Below Demand Point Demand Point Supply Point Supply Point
PIDILITE INDUSTRIES 1063 1030 1039 1054 1078 1117 72.2 996 16-03-18
NESTLE INDIA 9165 8669 8807.3 9026.7 9384.3 9961.3 69 8603.8 23-03-18
TECH MAHINDRA 700.85 654.7 668.4 687.1 719.6 770.9 68.5 656.5 13-04-18
INTERGLOBE AVIATION 1503.90 1450 1462.6 1491.3 1532.6 1602.7 68.1 1427 28-03-18
BRITANNIA INDUSTRIES 5327 5191 5207.7 5310.3 5429.7 5651.7 67.6 5169.5 28-03-18

Weekly Downtrend Stocks
Let the price move above Center Point or Level 3 and when it moves back below Center Point or Level 3, then sell with whatever high was registered above Center Point or Level 3 as the stop loss. After selling, if the price moves to Level 2 or below, then look to cover short positions as and when the opportunity arises. If the close is above Weekly Reversal Value, then the trend will change from Downtrend to Uptrend. Check on Friday after 3.pm to confirm weekly reversal of the Downtrend.
Scrips Last
Close
Level 1 Level 2 Center
Points
Level 3 Level 4 Relative
Strength
Weekly
Reversal
Value
Down Trend Date
Demand Point Demand Point Supply Point Supply Point Strong Above
HINDUSTAN PETROLEUM CORPORATION (HPCL) 298.85 245.9 285.2 310.7 324.4 336.3 26.12 332.67 13-04-18
BHARAT PETROLEUM CORPORATION (BPCL) 371.70 311.9 356.3 385.4 400.7 414.4 29.34 409.80 13-04-18
POWER FINANCE CORPORATION (PFC) 85.35 81.2 84.3 86.3 87.3 88.3 29.58 86.86 20-04-18
PUNJAB NATIONAL BANK 93.60 81.3 90.3 96.1 99.3 101.8 30.06 98.07 20-04-18
IDEA CELLULER 70.80 65.4 69.3 71.7 73.2 74.1 30.68 73.41 09-03-18
Believe It or Not

Archies recommended at Rs.36.90 in SA last week, zoomed to Rs.46.45 fetching 26% returns in just 1 week!

Kakatiya Cement Sugar & Industries recommended at Rs.261.40 in TT last week, zoomed to Rs.315.50 fetching 21% returns in just 1 week!

Future Market Networks recommended at Rs.134.75 in TT last week, zoomed to Rs.156.10 fetching 16% returns in just 1 week!

Shipping Corporation of India recommended at Rs.69.25 in SB last week, zoomed to Rs.77.35 fetching 12% returns in just 1 week!


Top Stories

Important Announcement
Disclaimer : Investment recommendations made in Money Times or other newsletters published by Time Communications (India) Ltd are for information purposes only and derived from sources that are deemed to be reliable but their accuracy and completeness are not guaranteed. Time Communications (India) Ltd or the analyst/writer does not accept any liability for the use of suchinformation for the buying or selling of securities. Readers who buy or sell securities based on the information published in Money Times orother newsletters are solely responsible for their actions. The author, his company or his acquaintances may/may not have positions in the above mentioned scrip.
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