13-01-2014 MARKET:

MARKET TREND:

FRIDAY NIFTY HAS GIVEN INDICATION OF HIGHER VOLATILITY.  MARKET BREADTH ALSO IS POOR.  EVEN 4TH DAY IT HAS CLOSED IN RED IRRESPECTIVE OF GOOD RESULTS BY INFY AND RIL SUPPORT.   FRIDAYS' ECONOMIC DATA ALSO DISAPPOINTING, WHICH HAS ANNOUNCED AFTER FRIDAY MARKET RESULTS.  US DATA AND NEWS ALSO NOT FAVORABLE TO SERVICE SECTOR.   SINCE US GOING TO RELAX IRAN SANCTIONS PARTIALLY, OIL AND MOTOR SECTOR MAY GET MORAL SUPPORT.  THESE ALL FACTORS INDICATE MARKET IS GOING TO BE STOCKS SELECTIVE BASED ON RESULTS ANNOUNCEMENT.   TODAY EXIDE AND RIIL GOING TO ANNOUNCE THEIR QTR. RESULTS.

TODAY MARKET LIKELY TO OPEN FLAT IN LINE WITH PEER MARKETS. EVEN NIFTY OPENS GREEN, LIKELY TO GET RESISTANCE AT 6220/6230 LEVEL.   SINCE VOLATILITY IS HIGH, DAY TRADERS CAN TRADE WITH PE/CE TO MINIMISE THEIR TRADING COST.   BUYING 6200PE AT RESISTANCE LEVEL CAN GIVE GOOD RETURNS.

NIFTY SPOT LEVELS:
Pivot: 6183
Resistance: 6227/6283/6327
Support: 6127/6083/6028

NIFTY FnO BAN: NIL

STOCKS FOR DAY:
FRL EQ: SELL < 84 TRG 80 SL 87
INDINFOLINE EQ: SELL < 66.50 TRG 64 SL 68
ITC EQ: BUY > 320 TRG 326 SL 316
ZEEENT EQ: BUY > 293 TRG 300 SL 288