Market
Overview:-
Hong
Kong shares ended lower after a volatile session on Friday, pressured
by profit taking and concerns over the status of a cross border stock
trading scheme. The Hang Seng Index unofficially closed down 0.4 per
cent at 23,550.24 points, while the China Enterprises Index of the
leading offshore Chinese listings in Hong Kong fell 0.3 per cent.
Index
is likely to show volatile movement in upcoming session and Index
have resistance at the level of 24000 and can take support of 23300.
It is good buying opportunity on index with stop loss of 23300 as RSI
sustaining above 40 mark and on MACD expanding of bullish gap showing
that momentum can gain more strength in upcoming session and index
would be on positive biased in upcoming session.
TOP
GAINERS
|
Name
|
Closing
|
%
Change
|
|
SANDS
CHINA LTD
|
44.250
|
+1.100
(+2.55%)
|
|
HKEX
|
175.600
|
+3.400
(+1.97%)
|
|
SINO
LAND
|
12.560
|
+0.140
(+1.13%)
|
|
GALAXY
ENT
|
49.600
|
+0.400
(+0.81%)
|
|
CHINA
RESOURCES
|
17.900
|
+0.080
(+0.45%)
|
TOP
LOSER
|
Name
|
Closing
|
%
Change
|
|
LENOVO
GROUP
|
10.260
|
-0.520
(-4.82%)
|
|
MENGNIU
DAIRY
|
31.450
|
-1.550
(-4.70%)
|
|
CHINA
RES POWER
|
20.900
|
-0.600
(-2.79%)
|
|
HENDERSON
LAND
|
50.150
|
-1.000
(-1.96%)
|
|
POWER
ASSETS
|
73.750
|
-1.400
(-1.86%)
|
Most
Active Volume
|
Name
|
Closing
|
%
Change
|
|
BANK
OF CHINA
|
3.690
|
208.29M
|
|
CCB
|
5.650
|
252.73M
|
|
ICBC
|
5.000
|
219.52M
|
|
LENOVO
GROUP
|
10.260
|
146.86M
|
|
PETROCHINA
|
9.180
|
114.56M
|
Most
Active Turnover
|
Name
|
Closing
|
%
Change
|
|
HKEX
|
175.600
|
2.64B
|
|
TENCENT
|
123.100
|
1.90B
|
|
LENOVO
GROUP
|
10.260
|
1.51B
|
|
CCB
|
5.650
|
1.43B
|
|
CHINA
MOBILE
|
96.500
|
1.30B
|
 |
| Stock Pick for the day: China gas Hold |
Recommendation
Buy
Target
: 15 & 16
Recommended
Price : 14
Stop
Loss: 13
STOCK
SUMMARY:-
Major
trend of stock is sideways on chart. It has traded in short term
sideways trend with positive biasness with support of 50 DMA in last
3 weekly trading session. It has shown good accumulation and it has
been showing a good accumulation at bottom with good volume. Now it
is facing resistance at 13.90 We recommend the stock to buy the
stock if it crosses its resistance of 13.70. One can keep the stop
loss at 13 and stock is likely move north ward in upcoming session
and targets of 15 & 16 can be seen in short term,
CHART FORMATION:-
Stock
was forming symmetrical triangle with the support of 50 DMA on
hourly chart and now it has give upside breakout from its upper
resistance line and likely to show northward movement in upcoming
session as it is forming symmetrical triangle.
 |
| Click to enlarge |
INDICATORS:-
MACD
Line is likely to cross its single line, which can bring upward
momentum in the stock.
ADX
is trading above 25 mark with positive DI placed above its negative
DI showing.
RSI
is trading above 50 mark showing that stock may remain bullish in
upcoming session.
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