Wednesday, October 16, 2013

17-10-13 MARKET:

MARKET TREND:
TUESDAY MARKET WAS DOMINATED BY NEGATIVE NEWS (US STALEMATE AND RBI'S REPO RATE ON 29TH OCT) AND DEVALUED TECHNICAL STRENGTHS.   BUT FIIs ARE IN LONG SIDE BY VALUING TECHNICALS.  SINCE 'US' DEBIT ISSUES HAVE BEEN GETTING SOLVED, OUR MARKET ALSO MAY RESPOND POSITIVELY.
TODAY MARKET OPEN FLAT AND MAY WITNESS SELL AT HIGHS   UNLESS MARKET SUSTAIN ABOVE 6160 WE CAN'T BE ON BULL SIDE.   TODAY MARKET MAY GET RESISTANCE AT 6140/6150 AND CLOSE FLAT TO NEGATIVE.

NIFTY SPOT LEVELS:
Pivot: 6100
Resistance: 6145/6200/6244
Support: 6045/6000/5945

NIFTY FnO BAN: NIL

STOCKS FOR DAY:
UTTAMGALVA EQ: BUY > 57 TRG 58.50 SSL 55.75
WIPRO EQ: BUY > 511 TRG 518 SL 503
HINDALCO EQ: SELL < 114 TRG 107 SL 116

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