Short Term Pick- Buy Bombay Dying

Short Term Pick: Buy J.B. Chemical & Pharma

Analysis:

• Stock is forming triangle formation on daily chart with taking support as shown by horizontal line.

• Stock is corrected up to 78.8% from its high of 139.20 and enters in consolidation phase. And recently it came out of range suggest it may resume upward momentum.

• Indicators like RSI, MACD, ADX and ROC suggest buying signals.

• Stock is above its 20 days SMA, 50 days EMA, 100 days EMA & 200 days EMA suggest uptrend.

Strategy: Buy JB Chemical at CMP- 134.85 and add on dips to 130 for possible Target- 154/ 165 with stop below 125 on daily closing basis.

FII Data Analysis for 5 March

1) FIIs bought 22080 contracts of Index Future (bought 24915 long contracts and 2835 short contracts

    were added) with net OI increasing by 27750 contracts.

2) FII bought long and also create shorts and stayed net buyers in index future. Nifty closed near the

    psychosocial barrier around 6350. Nifty has to stay above 6250 to maintain bullish sentiment.

3) Nifty Trading Strategy: Buy Nifty Fut above 6345 Target- 6368/ 6375  SL- 6328                                                                   Sell Nifty Fut below 6315 Target- 6294/ 6285  SL- 6334