NIFTY PERFORMANCE:
Today Nifty made exercise to take away excess fat in Nifty Futures' premium. As we mentioned in our morning note Nifty Futures lost almost 50% of its premium from 103pts to 69pts. Some stocks specifics, which related to News driven strips like JSL, Spicejet and some of the PSU banks have gained more than normal. Some of the Value based (higher book value than market price) have picked up by the investors, which must be for long term investment. As Market was dominated (from last couple of days) by DIIs, domestic players like infra stocks are in movement for time being. From 5th onwards only we can see some more volumes in the system and there by the healthy movement.
STOCKS TO WATCH (POS/DAY BASED ON LEVELS GIVEN)
SAIL: BUY > 81.80 TRG 82.75 SL 81
Actual: Low: 79.90 High: 82
PURVANKARA: BUY > 82 TRG 83.20 SL 79
Actual: 79.50; High: 81.90
TCS: SELL < 2488 TRG 2458 SL 2512
Actual: Low: 2466.70; High: 2510.90
We wish you happy week end.
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