Showing posts with label free market outlook. Show all posts
Showing posts with label free market outlook. Show all posts
The Indian market opens for trade this morning on a strong note, led by metals, infrastructure and capital goods. Earlier, the US markets ended higher with the Dow up 287 odd points while Asia is in the green at this hour. After a strong start, the market has given up some of its gains but is still in positive terrain with RIL seeing an upmove ahead of its AGM. Sensex is trading at 16605, up 151 points from its previous close, and Nifty is at 5034, up 37 points. CNX Midcap index is up 0.4% and BSE Smallcap index is also up 0.4%. The market breadth is positive with advances at 752 against declines of 408 on the NSE. We are likely to open gap up and once we move above 5060 the next target on the Nifty would be 5180.
Intraday Tips For Today
- Buy Dena Bank with a target of Rs 104 and stop loss of Rs 91.
- Buy MRPL with a target of Rs 61 and stop loss of Rs 50.
- Buy RIL at Rs 670, with a target of Rs 770 on going above Rs 725.
- Buy BHEL with a target of Rs 230 and stop loss of Rs 205.
- Buy Essar Oil with a target of Rs 59 and stop loss of Rs 51.
- Buy Tilak Nagar Industries with a target of Rs 53 and stop loss of Rs 50.50
- Buy SBI with a target of Rs 2300 and stop loss of Rs 2100.
Nifty closed today at 5892 with -18.00 points so technically the logical target of 5956 stays but the market gives a feeling that it is running out of steam and so it is better to trade in small profit. The market doesn't seems as expected and has reacted and closed in the red. Technically the trend is still intact up but 5956 is also a very stiff resistance to deal and a good place to book profits…
The support for the Nifty is at 5855 and resistance at 5953-6015
BSE Sensex closed at 19612 with -74.62 points So the crucial support on the Sensex on the downside is 19555 and resistance at 19850-20000.
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