03-12-14 DAY PERFORMANCE:

NIFTY PERFORMANCE:

Today the day of consolidation for Nifty.  It has formed valleys between technical support and resistance levels.  As there is no positive clues neither from Indian forums or from global indices, 3rd day Nifty managed to close flat.  As there is continuation in dialogue from RBI corner, Bank Nifty gained much more than expected.   Value buying at Equity Counters, particularly from Mid & Small cap Stocks given support to Nifty.   Also some extend FIIs short coverage (which built yesterday) might be some reason for pull back of Nifty in late hours of the trade.

STOCKS TO WATCH (POS/DAY BASED ON LEVELS GIVEN) 

HDFC: SELL < 1130 TRG 1125/1113 SL 1138

            Actual: Low:1100.25; High: 1135

 

RECL: SELL < 340 TRG 335/330 SL 346

            Actual: Low: 341; High: 352.40 (not initiated trade)

 

JINDAL STEEL: BUY > 138 TRG 140/146 SL 136

                           Actual: Low: 142; High: 154

 

B/F TIPS:

RELIANCE : SELL < 970 TRG 950/938 SL 884 (PE may be better option)

        02-12--- Actual: Low: 958.35; High: 970.90 (yesterday levels to be break, to confirm  the selling pressure)

            02-12--- 960PE: Low: 12.70; High: 18.55 (may hold till eq. price breaks 972)

            03-12---Actual: Low:  960.90; High: 973.60 (can exit SL hit)

            03-12---960PE: Low: 10.50; High: 15.75 (risk taking traders can hold)