29-11-13 MARKET:

MARKET TREND:

YESTERDAY MARKET WAS CLOSED MORE POSITIVE THAN WE EXPECTED ALONG WITH DERIVATIVES PREMIUM OF (NEARLY) 1%. OVERALL ROLLOVER WAS TAKEN WITH MORE ZEAL. AS ANALYSTS ARE EXPECTING OUR GDP Nos. ARE GOING TO BE BETTER THAN PREVIOUS, TWO DAYS SELLING WAS STOPPED BY FIIs AND BOUGHT GOOD VOLUME OF EQUITIES & FUTURES. EVEN THOUGH YESTERDAY FIGURES ARE POSITIVE, MARKET OVERALL DIRECTION WAS NOT YET ESTABLISHED TO BULLISH.

IN LINE WITH SGX NIFTY, OUR NIFTY ALSO MAY START FLAT AND GO MAY WITNESS PROFIT BOOKING AT HIGHER LEVELS IN VIEW OF WEEK END.   MARKET RANGE IS EXPECTING BETWEEN 6045-6160 LEVELS. DAY TRADERS CAN GO SHORT AT 6140/6160 LEVEL WITH 6180 SL. FOR TARGET OF 6100.

NIFTY SPOT LEVELS:
Pivot: 6091
Resistance: 6114/6136/6158
Support: 6069/6046/6024

NIFTY FnO BAN: NIL

STOCKS FOR DAY:
JINDAL STEEL EQ: BUY > 254.60 TRG 258 SL 251.75
SUNTV EQ: BUY > 370 TRG 375/380 SL 364
GODREJIND EQ:  BUY > 272 TRG 278 SL 267