Thursday, January 16, 2014
17-01-2014 MARKET: (SEND REQUEST TO roaringstocks@rediffmail.com TO GET REGISTER AS FREE VISITORS)
YESTERDAY MARKET WAS A DAY OF CONSOLIDATION. AS TRADERS DO NOT HAVE
BULLISH CONVICTION, AT HIGHER LEVEL POSITIONS COVERAGE HAS TAKEN AND ITS
RESULTED LOWER BREADTH. NOW MARKET IS LINGERING BETWEEN THE RANGE OF
6250-6340 RANGE. UNLESS MARKET CLOSES BEYOND THESE LEVEL, MARKET
DIRECTION CAN'T BE INDICATIVE. MARKET LONG TERM VIEW IS NOT BULLISH
AND QTR EARNINGS ARE ATTRACTIVE (SO FAR) MARKET HAS BECOME RANGE BOND.
STOCK SPECIFIC MOVEMENT WILL BE MORE THAN INDICES MOVEMENT, AS ALL
POLITICAL PARTIES ARE GETTING PREPARE FOR ELECTIONS, MANY NEWS LIKELY TO
FLOAT ALONG WITH ECONOMIC SURVEYS AND BUDGET EXPECTATIONS.
TODAY MARKET LIKELY TO OPEN FLAT WITH NEGATIVE BIAS AND MAY TRY TO TEST YESTERDAYS HIGH AND MAY CLOSE NEGATIVE POINTS.
NIFTY SPOT LEVELS:
Pivot: 6322
Resistance: 6345/6370/6390
Support: 6295/6275/6250
NIFTY FnO BAN: FRL
STOCKS FOR DAY:
RELCAP EQ: SELL < 348 TRG 342 SL 351
BHARATFORGE EQ: BUY > 345 TRG 354 SL 339
GODREJIND EQ: BUY > 288 TRG 295 SL 283
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