13-3-14 MARKET:

MARKET TREND:

Yesterday also we saw market consolidation with lower volumes, lower breadth and Stock Rotation. As we expected, so far NIfty is holding at Trend line Resistance levels of 6550.  Yesterdays' Economic Data also read by most of the analysts as non-event.  FIIs are net sellers in Derivative segment and net buyers in Equity segment.   Derivative OI range is between 6400-6600  As volume and money indicators are in over bought  (daily basis), some profit booking is inevitable, we advise short term traders to book partial profits or hold with SL.  As tomorrows' WPI data also expecting in positive numbers and long week end ahead, short term and day traders may book profits at good news.

Today Nifty likely to open flat with positive note and may get resistance at 6550/6580 level, day traders may book profit or go positional shorts with 6610 SL. 

 

NIFTY SPOT LEVELS:
Pivot: 6517
Respect: 6546/6575/6505
Support: 6487/6457/6428

NIFTY FnO BAN: NIL

STOCKS FOR DAY:
IRB INFRA EQ: BUY > 100 TRG 102.50 SL 98
ASIAN PAINTS EQ: BUY > 489 TRG 499 SL 483
UNITED BREWERIES EQ: SELL < 806 TRG 798 SL 812