Stock to Watch : Today: Voltas Limited

Voltas Limited futures has bounced back from 23.60% retracement level on daily charts. Moreover, it is forming “symmetrical triangle” chart pattern on daily and weekly charts, which is considered to be bullish.

The 50-days DEMA of the stock on the daily charts is currently at 539.75 .In the previous days, Voltas Limited registered 2% gain and took a support of the lower line of pattern and also technical indicators MACD, RSI and KST are indicating towards positive movement in the upcoming days. Therefore, it is recommended to take a long positions in VOLTAS Jan Futures in between 540-541 for the targets of 546-550 with stop loss at 530.1.It is a pure intraday recommendation due to contract expiry day.

To check Stock to Watch : http://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html

Market Commentary:

ICICIBANK, TATASTEEL, AXISBANK, HINDALCO, HCLTECH were the top gainers among Nifty 50 stocks while IBULHSGFIN, ADANIPORTS, BAJAJ-AUTO, KOTAKBANK, INFRATEL were the top losers.

News Highlights:

•TCS says it can weather slowdown without any layoffs. Tata Consultancy Services has a number of ways to respond to a slowdown in business, even as it prepares for stronger growth, the company’s human resources head told

•Indian Oil Corporation on Wednesday reported a standalone net profit of Rs 716.82 crore for the December quarter. To check Stock to Watch : http://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html

Bank Nifty Market Trend for 31-Jan-2019:

CH: OUTLOOK

BANK NIFTY- CONS.(26350-27260)

NIFTY-CONS.(10585-10785)

STRATEGY BUY

SGX NIFTY 83

DOW 434.9

ASAIN MKT UP

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