The Hang Seng Index
closed down 15 points at 23350.34 after first half trading. Market is
likely to be bullish in upcoming session and Hang Seng Index have
resistance at the level of 23500 and can take support of 23000. It is
good buying opportunity on HSI if it crosses 23500 as RSI sustaining
above 40 mark and on stochastic expanding of bullish gap showing that
momentum can gain more strength in upcoming session and index would
be on positive biassed in upcoming session.
TOP
GAINERS
|
Name
|
Closing
|
%
Change
|
|
GALAXY ENT
|
43.650
|
3.80%
|
|
SANDS CHINA LTD
|
38.500
|
3.08%
|
|
POWER ASSETS
|
75.000
|
1.97%
|
|
HK & CHINA GAS
|
17.580
|
1.85%
|
|
CLP HOLDINGS
|
67.450
|
1.58%
|
TOP
LOSER
|
Name
|
Closing
|
%
Change
|
|
PING AN
|
73.750
|
-3.09%
|
|
CHINA RES POWER
|
19.860
|
-1.68%
|
|
ICBC
|
5.460
|
-1.27%
|
|
CHINA LIFE
|
28.050
|
-1.23%
|
|
CHINA UNICOM
|
10.440
|
-1.14%
|
Most
Active Volume
|
Name
|
Closing
|
%
Change
|
|
ICBC
|
5.460
|
161.07M
|
|
BANK OF CHINA
|
4.210
|
131.44M
|
|
CCB
|
6.170
|
115.69M
|
|
SINOPEC CORP
|
6.240
|
40.91M
|
|
PETROCHINA
|
8.630
|
30.53M
|
Most
Active Turnover
|
Name
|
Closing
|
%
Change
|
|
PING AN
|
73.750
|
1.21B
|
|
ICBC
|
5.460
|
884.98M
|
|
TENCENT
|
112.700
|
730.95M
|
|
CCB
|
6.170
|
717.08M
|
|
BANK OF CHINA
|
4.210
|
556.08M
|
Stock
Pick for the day: Fosun Intl
Recommendation
Buy
Target
: 11 & 12
Recommended
Price : 10.30
Stop
Loss: 9.80
STOCK
SUMMARY:-
Major
trend of stock is bullish on chart. It has been trading with higher
top and higher bottom formation on charts. It has shown small
correction from its significance high and now it is trading with
positive biasness with resistance of 50 DMA in last three trading
session. We recommend the stock to buy if it manages to give closing
above resistance of 50 DMA at 10.25. One can keep the stop loss of
9.80 support of 200 DMA at and stock is likely move north ward in
upcoming session and targets of 11 & 12 can be seen in short
term.
CHART FORMATION:-
Stock
has given a small dip with formation of short term falling wedge on
intra day chart. An appearance of moving average golden cross on
hourly chart showing that momentum would be bullish in upcoming
session we recommend to buy the stock on dip.
INDICATORS:-
MACD
Line has crossed above its single line, which can bring upward
momentum in the stock.
RSI
is trading above 50 mark showing that stock may remain bullish in
upcoming session.
On
ADX there is a bullish crossover of positive DI and Negative DI and
crossing of ADX above 25 can bring further buying in the stock.
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