Weekly Equity Report, Sensex Nifty Ends High, Tomorrow Stock Tips

Weekly Wrap: - Market gained in a truncated trading week as the recent data showing pick up in industrial production growth and easing inflation raised bets for a cut in interest rates by the Reserve Bank of India in upcoming policy meet later this month. The US central bank, the Federal Reserve holding rates steady after a two-day monetary policy meeting on 17 September 2015 also boosted sentiment. 

The Sensex rose 608.70 points or 2.37% to settle at 26,218.91. The gains in Nifty was higher than Sensex's rise in percentage terms. The Nifty gained 192.60 points or 2.47% to settle at 7,981.90. 

The market may remain volatile as traders roll over positions in the futures & options (F&O) segment from the near month September 2015 series to October 2015 series. The near month September 2015 derivatives contracts expire on Thursday, 24 September 2015. 

On The F&O Front : - Weekly data shows in the past trading sessions, we have seen strong Put writing in 8100/8000/7900 strikes & major Call writing in 7700/7800/7900 strikes indicating a range bound session for market, in the near term. 

On Technical Front: - On Nifty weekly chart strong resistance is seen at 7995 if it breaks with high volume, more bullishness is expected. 

Nifty Directional: - Buy Nifty Future above 8005 Target 8055, 8105 Stop Loss 7905. 

WEEKLY STOCK RECOMMENDATION 

SELL VOLTAS FUTURE BELOW 248 TARGETS 243 , 238 , 233 STOPLOSS 258 

SELL UPL FUTURE BELOW 478 TARGETS 470 , 462 , 454 STOPLOSS 493 

BUY KTKBANK FUTURE ABOVE 125 TARGETS 127.5 , 130 , 132.5 STOPLOSS 120 

BUY ANDHRABANK FUTURE ABOVE 66.25 TARGETS 67.55 , 68.85 , 70.15 STOPLOSS 63.65

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