06-11-13 MARKET;

MARKET TREND:

YESTERDAY MARKET HAS MOVED AS PER OUR EXPECTATIONS.  NIFTY HAS CLOSED BELOW THE CHANNEL LINES WITH BEARISH CANDLE.  BUT WITH INFLUENCE OF POSITIVE NEWS LIKE CLEARANCE OF PENDING PROJECTS BY CENTRAL GOVT AND POSITIVE RATING BY CREDIT AGENCIES, MID CAP INDEX STOCKS HAVE SUSTAINED POSITIVE MOVEMENT. SINCE YESTERDAY IS 1ST NEGATIVE CANDLE AFTER MARKET TOUCHING RECENT HIGHS, TRADING POSITIONS WILL BE GET ADJUSTED AND IN RESULT TODAY NIFTY MAY MOVE NARROWLY. 

TILL EUROPE MARKET OPENS, MARKET MAY MOVE FLAT TO NEGATIVE BIAS AND WILL TAKE LEAD FROM EUROPE MARKET. MOSTLY MARKET WILL BE CLOSED FLAT TO NEGATIVE. SINCE FIIs ARE MOSTLY AT ARBITRAGE TRADE, (FIIS ARE BUYING WHEN EVER MARKET SENTIMENT IS WEAK AND SELLING WHEN EVER TECHNICALLY BETTER) DAILY TRADES MAY PREFER CE/PE TO LIMIT THEIR TRADING RISKS. NIFTY LIKELY TO GET RESISTANCE @ 6290 LEVEL.  TRADERS CAN GO SHORT WITH 6340 SL.  TILL THE NIFTY REACHES 6080/6120 LEVEL NIFTY WILL BE AT SELL AT HIGHS ONLY, UNLESS VOLUME BREAK COMES IN TO WAY.

NIFTY SPOT LEVELS:
Pivot: 6267
Resistance: 6291/6338/6351
Support: 6230/6205/6170

NIFTY FnO BAN: NIL

STOCKS FOR DAY: 
KOLTEPATIL EQ: BUY > 84.50 TRG 87.50/90 SL 82
ADANI ENT EQ: SELL < 200 TRG 194/188 SL 209 ( IF OPENS > 208 SELL < 222)
POWERGRID EQ: SELL < 96 TRG 94 SL 99
ACL EQ: SELL < 187 TRG 185 SL 189