13-11-14 DAY PERFORMANCE:

NIFTY MOVEMENT:

Nifty opened with gap up and traded within its pivot resistance and support range.  After 27 Oct,, 14 today only Nifty has closed with 25 pt minus, after playing volatile in order to cover up the positions or to average their holding.  Global crude prices kept alive the hope of further bullishness, even though peer markets running flat at the time of our market opening.  As Bulls have lot of leverage in view of 650 pts Nifty performance, from last 4 days most of the traders are adding longs and as well as shorts to index futures to enjoy the extended bullishness.   If we observe keenly, most of the short term traders have looked at their portfolios and started re-organising (which we also mentioned in our yesterday evening note).

Today excess steam was taken away by the Govt. through its announcement about excise duty increase, and RBI governor Raghuram Rajan comments about our economy; " that the it is fair to say India is a cusp of financial revolution".

STOCKS - OPEN CALLS: (B/F):

HOV SERVICES: BUY >  175 TRG 183/192 SL 174
                        12-11; ACTUAL: LOW: 176.75 HIGH: 190.90 (CAN HOLD WITH TRAILING SL)
                         13-11; ACTUAL: LOW: 172.80 HIGH: 180.95 SL HIT-CAN EXIT

IOB: BUY > 58.50 TRG 60/61 SL 57.50
        12-11;  ACTUAL: LOW: 58.15 HIGH: 59.65  (CAN HOLD WITH TRAILING SL)
        13-11; ACTUAL: LOW: 57.35 HIGH: 59.70 SL HIT - CAN EXIT

ARVIND: SELL < 287.50 TRG 280.50 SL 293
                 12-11;  ACTUAL: LOW: 284.50 HIGH: 291.30 (CAN HOLD WITH TRAILING SL)
                13-11; ACTUAL: LOW: 276.30 HIGH: 288 ; TARGET HIT, CAN EXIT

CANFINHOMES: BUY > 515 TRG 533/548 SL 482 (WAIT FOR NIFTY LOWS)
                            10/11--ACTUAL: LOW: 512.20  HIGH: 525.50 (CAN HOLD WITH TRAILING SL)

                            11/11--ACTUAL: LOW: 512.55 HIGH: 535.30(1ST TRG ACHIEVED)

                            12/11--ACTUAL: LOW: 507.30 HIGH: 527.45 (CAN HOLD WITH TRAILING SL)                            13-11--ACTUAL:  LOW: 482.50 HIGH: 501.90 (CAN HOLD WITH SL FOR 2ND TRG)