CONSOLIDATION or CORRECTION!

14-05-13

MARKET TREND:

Yesterday our Nifty bleeded more than 2% which is higher than other Major Indices of the Peer Markets.  Since our market is overbought zone (daily basis), obviously profit booking has taken by the traders.  Morning market may open with positive bias (in line with peers) and 6020 may act as resistance.   Market may get support @ 5950/5960 for time being.  

NIFTY SPOT LEVELS:

Pivot: 6019
Resistance: 6055/6151/6198
Support: 5934/5867/5802

NIFTY FnO BAN: NIL

STOCKS FOR DAY:

DIVIS LAB EQ : BUY > 1097 TRG 1114 SL 1087

NIITTECH EQ: BUY > 268 TRG 275 SL 262

TAJGVK EQ: BUY > 63.75 TRG 65.75 SL 62.50

STOCKS FOR DAY – SELLING (ONLY FOR MOVEMENT TRADERS)

RCOM, PUNJLLOYD, ICICIBANK, JINDALSTEL, PFC, GODREJIND 

STOCKS TO WATCH – POSITIONAL

GRUHA FINANCE