28-01-2014 MARKET:

MARKET TREND:

WEAK WORLD INDICES, WEAK RUPEE AND RBI GOVERNOR'S COMMENTS TOGETHER HAVE GIVEN US BLACK MONDAY.  DUE TO HUGE GAP DOWN,  WEAK TRADERS (FINANCIALLY) MIGHT HAVE FORCED TO BOOK LOSS AND STRONG (FINANCIAL STRENGTH) TRADERS HAVE WENT FOR ROLL OVER ALONG WITH HEDGE.  THIS IS REASON WE HAVE WITNESSED GOOD VOLUME OF PLUS IN OPTIONS SEGMENT AND SELLING IN PRESENT SERIES OF DERIVATIVES & IN EQUITY SECTION.  SO FAR NIFTY HOLDS ABOVE 6100 LEVEL ANY POSITIVE NEWS FROM RBI OR FROM OTHER SOURCES, MARKET WILL TAKE AS AN OPPORTUNITY FOR SHORT COVERAGE or TO AVERAGE THEIR HOLDINGS.

TODAY MARKET MAY OPEN WITH NEGATIVE BIAS/FLAT AND WAIT FOR RBI ANNOUNCEMENT AND THERE AFTER INCREASE ITS VOLATILITY.   UNLESS NIFTY CLOSES ABOVE 6220/6240 BULLS WILL BE NOT CONFIDENT FOR MARKET UPTREND, WE MAY WITNESS SELLING AT EVERY HIGHS TILL 6250.  FOR DAY TRADERS WITH 6080/6050 SL CAN COVER THEIR SHORTS OR AVERAGE THEIR HOLDINGS.

NIFTY SPOT LEVELS:
Pivot: 6151
Resistance: 6172/6210/6231
Support: 6114/6093/6055

NIFTY FnO BAN:
APOLLOTYRES
HDIL
RANBAXY

STOCKS FOR DAY:
RELIANCE INFRA EQ: SELL < 382 TRG 370 SL389
ADANI ENT EQ: SELL < 240.50 TRG 232 SL 245
GLENMARK EQ: BUY > 530 TRG 549 SL 515