04-12-14 DAY PERFORMANCE:

NIFTY PERFORMANCE:

Soon after Asian Peer indices turned to green (by opening time of market), traders jumped and went for short coverage, which expected in late hours. Nifty has moved in the range of 8526-8627 (8627 is new high).  Since FIIs are hedged their positions with Options (for the same value), it might have not mattered much to them.   Who ever not hedged (mostly retailers) might have come under tension. As this week is mostly shifting of portfolios are happening, we are able see more stocks specific action than indices and due to strip based cross weight-age prompting to void technical levels of indices.  As stock specific action likely to continue till the Nifty stocks values get adjusted, we have to be careful with SL even to individual stocks.

STOCKS TO WATCH (POS/DAY BASED ON LEVELS GIVEN) 
HDFC BANK: SELL < 936 TRG 929 SL 941

                         Actual: Low: 931.55; High: 945

UTTAMGALVA: BUY > 72 TRG 74/78 SL 70

                            Actual: Low:  72.10; High: 77.45 (strip played high to low)

PRAKASHIND: BUY > 59 TRG 61/66 SL 57

                           Actual: Low: 60.50; High: 64.85 (played high to low)

SUPRAJIT: BUY > 124 TRG 128 SL 121

                   Actual: Low:  121; High: 124 (not initiated trade)

IDFC: BUY > 163 TRG 166/168 SL 160 

           Actual: Low: 160.05; High: 165. (played high to low)