SHOOT OR GET SHOOED SITUATION!

08-04-13

shoot or get shooed...

MARKET TREND:

Friday market not given any surprises. It has moved as per our expectations only.  This week market may give clarity in its direction. When we search for positives in negative market, we can find only Over Sold Situation and Support @ 5520 can be seen as positives. If market given up these positives, we can find Support at 5450 (Gap Filling). 

Policy makers are leaving feelers, as nothing wrong with them. RBI Governor's' remarks regarding Food habits change of Rural India is one of them and FMs remarks regarding Gold import linking to Inflation is another one.  These are indicators to us as they may not take any action on Interest part near future, except measures to improve cash flows to bridge Physical Balances. Since Bears are already Advantage side and market going to wait for Friday's Production Figures and Yearly Results, till friday market may be range bound between 5500 - 5700.

NIFTY SPOT LEVELS:

Pivot: 5555

Resistance: 5575/5598/5618

Support: 5532/5512/5490

NIFTY FnO BAN: HDIL

STOCKS FOR DAY TRADING:

SINTEX EQ: BUY > 46.50 TRG 47.25-48.25 SL 45.50
GAIL EQ: BUY > 317 TRG 321 SL 312
CESC EQ: BUY > 275 TRG 282 SL 270

STOCKS FOR POSITIONS:

IGL, BIOCON, WIPRO, CIPLA, ADANIPORTS, LUPIN, DRREDDY, DABUR,
SUNPHARMA