Tuesday, January 22, 2014
MARKET TREND:
NIFTY SPOT LEVELS:
Pivot: 6314
Resistance: 6330/6346/6363
Support: 6297/6280/6265
NIFTY FnO BAN: AURBINDOPHARMA
STOCKS FOR DAY:
TATACOMM EQ: BUY > 305 TRG 310 SL 302
REL.CAP EQ: SELL < 347 TRG 345/342 SL 351
TATAMOTORS DVR EQ: BUY > 197 TRG 201 SL 193
APOLLOHOSP EQ: BUY > 942 TRG 954 SL 935
YESTERDAY MARKET HAS MOVED AS PER OUR EXPECTATIONS. FORMING RED CANDLE
EVEN FOR POSITIVE CLOSING MARKET INDICATE AS: CASH FLOWS ARE LOWER BY
ACCUMULATING AND COVERAGES OF SHORTS (SHIFTING OF STRIPS). MAY VOLUMES
ARE NOT ENOUGH FOR BEARS TO GO FOR PROFIT BOOKING. TODAY ALSO WE MAY
SEE CONSOLIDATION. NIFTY DERIVATIVES ARE FACING RESISTANCE AT RECENT
HIGH AND OI ALSO IS NOT SUPPORTIVE, IT IS BECOME IMPORTANT TO MARKET TO
CLOSE THE NIFTY ABOVE 6340/6350 TO ESTABLISH POSITIVENESS.
TODAY NIFTY MAY OPEN WITH NEGATIVE BIAS IN LINE WITH PEER MARKET AND
PLAY RANGE BOUND TILL EUROPE MARKET OPENS. DAY TRADERS CAN GO LONG AT
LOWER LEVEL (AROUND 6300) FOR POSITIVE CLOSING WITH 6280 SL.
Pivot: 6314
Resistance: 6330/6346/6363
Support: 6297/6280/6265
NIFTY FnO BAN: AURBINDOPHARMA
STOCKS FOR DAY:
TATACOMM EQ: BUY > 305 TRG 310 SL 302
REL.CAP EQ: SELL < 347 TRG 345/342 SL 351
TATAMOTORS DVR EQ: BUY > 197 TRG 201 SL 193
APOLLOHOSP EQ: BUY > 942 TRG 954 SL 935
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