In the week ended Friday, 1 April 2016, the Sensex fell 67.92 points or 0.27% to settle at 25,269.64, its lowest closing level since 29 March 2016. The losses for the Nifty were lower in percentage terms than those for the Sensex. The Nifty slipped 3.45 points or 0.04% to settle at 7,713.05.
Weekly data shows in the past trading sessions, we have seen strong Put writing at 7500/ 7600/7700 strikes & major Call writing at 7900/7800/7700 strike indicating a range bound session for market, in the near term.
On Nifty weekly chart strong resistance is seen at 7820. If it breaks with high volume, more bullishness is expected.
Buy Nifty Future above 7825, Target-7875,7925, StopLoss-7725
Stock Recommendation for Week :
BUY HDIL FUTURE ABOVE 78.5, TARGETS 80.5 , 82.5 84.5 STOPLOSS 74.5
BUY DLF FUTURE ABOVE 122.75, TARGETS 125 , 127.25 , 129.5 STOPLOSS 118.25