18-07-13 MARKET

MARKET TREND:

As we referred  in our yesterday report, FMGC stocks are lime lite.   As Govt. agencies like RBI is trying to give necessary support (like support to Mutural Funds & Interest rates) to Rupee and FM/PM office trying to bring give CHOPS to Economy to increase productivity and cash flows, FIIs and FDIs may be give PAUSE to their cash activity.   This act may be force the market to range bound trades, and adjustment of portfolios, which may lead to stock specific action.   Since most of the FMGC stocks are in over bought zone, at every good news (qtr results announcement) traders may try to book profit.

Today market may open flat with positive note and move along with peer markets.  Today major private banks like Kotak, Axis and IDBI results are in line and Bank Nifty has been corrected, gates may open for more volatility in this Index.   Since, US job data indicating positive note, Europe markets may be slowly turn to positive and our market also may follow the suit.  Traders can short at highs at 6000 level with stop loss of 6020/6025.

NIFTY SPOT LEVELS:
Pivot: 5963
Resitance: 6000/6026/6063
Support: 5937/5900/5874

NIFTY FnO BAN: NIL

STOCKS FOR DAY: (may caution at higher prices)
SHASUNPHARMA EQ: BUY > 71.50 TRG 75.50/78.50 SL 69
CHAMBAL EQ : BUY > 38.5 TRG 40 SL 37.5
DABUR EQ: BUY > 164 TRG 168 SL 161
IGL EQ: BUY > 304 TRG 317 SL 296
BATA EQ: BUY > 922 TRG 938 SL 908