17-05-13 MARKET TREND:
Yesterday market has given hope of ray. But it is not convincing because trade volumes are low and market breadth is also low. We can't take it as breakout. Still we see a chance of Nifty short opportunity @ 6220 with SL @ 6255. Since FII are looking for profit booking and shifting of partial funds to Europe, which is giving sign of Thumbs Up, market correction will be at surprise and it slide very fast.
NIFTY SPOT LEVELS:
Pivot: 6161
Resistance: 6195/6220/6254
Support: 6162/6136/6102
NIFTY FnO BAN: NIL
Yesterday market has given hope of ray. But it is not convincing because trade volumes are low and market breadth is also low. We can't take it as breakout. Still we see a chance of Nifty short opportunity @ 6220 with SL @ 6255. Since FII are looking for profit booking and shifting of partial funds to Europe, which is giving sign of Thumbs Up, market correction will be at surprise and it slide very fast.
NIFTY SPOT LEVELS:
Pivot: 6161
Resistance: 6195/6220/6254
Support: 6162/6136/6102
NIFTY FnO BAN: NIL
STOCKS FOR DAY:
IDFC EQ: BUY > 161.50 TRG 166 SL 158.50
ADANIENT EQ: BUY > 229 TRG 232 SL 226
GODREJIND EQ: BUY >317 TRG 322 SL 311
STOCKS TO WATCH – POSITIONAL:
ITC, HDFC, IDEA, ZEEL, MCDOWELL-N, TITAN, SUNPHARMA, MARUTI, CESC, ULTRACEMCO,
HAVELLS, GRASIM
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