Nifty- NewsLetter for 11th Jan 2013

Market levels for nifty:

Today nifty index will have quite strong resistance at 5986. If it manages to cross 5986, it may reach 6001 and 6017 . If it Happens then bulls may take nifty to 6031 and 6045 levels.

              It can take on other side, below 5948 level, nifty may be dragged down to 5931 by bears. One can see some more action below 5917. If nifty manages to cut 5917, it may touch 5902. Support for bulls acting at 5885 level.

Sectors looking bearish
1. Oil&&Gas

2. Reality

3. IT

Sectors looking bullish

1. Capital Goods

2. Metal

3. FMCG

Stock Tips For Today 

SELL Idea Cellular Ltd. Long Term Target 99 Stop Loss 112

BUY Reliance Capital Ltd. Intraday Target 525 Stop Loss 485 

BUY Manali Petrochemicals Ltd. Long Term Target 22.5 Stop Loss 9  

BUY UCO Bank Long Term Target 137 Stop Loss 81  

BUY Bank of Maharashtra Intraday Target 65 Stop Loss 61

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Nifty-News Letter For 9th Jan 2013

Market levels for nifty:

Today nifty index will have quite strong resistance at 6019. If it manages to cross 6019, it may reach 6035and 6050 . If it Happens then bulls may take nifty to 6066 and 6091 levels.

               It can take on other side, below 5981 level, nifty may be dragged down to 5967 by bears. One can see some more action below 5952. If nifty manages to cut 5952, it may touch 5935. Support for bulls acting at 5919 level.

Sectors looking bearish

1. Power

2. Reality

3. IT

Sectors looking bullish

1. HC

2. Metal

3. FMCG

Stock Tips For Today :-

BUY Rane Holdings Ltd. Med Term Target 235 Stop Loss 191 

BUY HDFC Bank Ltd. Long Term Target 750

BUY PC Jeweller Ltd. Med Term Target 250 Stop Loss 175

SELL Titan Industries Ltd. Intraday Target 267.20 Stop Loss 282 

BUY MRF Ltd. Long Term Target 1500 

BUY Orchid Chemicals -and- Pharmaceuticals Ltd. Long Term Target 150 Stop Loss 96.50

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Today's news 24th sept. : Small upside may lead to fresh shorts.

 Nifty Trend Today: 

Nifty continued its upward move on the final trading session of the week and tested 5,700 levels. However, it  faced stiff resistance at this level and corrected until 5,670 levels from where it again gained some momentum and started moving upward. According to SEBI data, FIIs have net bought Rs 6262 crore of shares in three trading sessions between September 14-18. This is nearly 70% of the Rs 9323 crore of net purchases for the month so far. Technical indicators (Slow Stochastic, RSI) are supporting this view. Slow Stochastic is indicating a be signal as %K (Slow stochastic) rose above 70 levels and turned back below % D. RSI is also moving near overbought region at 74 levels. Hence, profit booking will occur in near term and a wide correction is due in the range of 6 to 8% inforthcoming trading sessions.
                      However, MACD which has crossed-over for a bullish indication is giving hopes to bulls. Nifty is expected to open in positive terrain in the coming week, but may find pressure on higher levels. The first resistance, for the week ahead, is 5,740 followed by 5,800. The first support, for the week ahead, will be at 5,600 and the further downside support will be at 5,540. After hitting fresh 2012 highs, the Indian benchmark indices are expected to take a breather before determining the next direction of the market.


                            SHORT TERM OUTLOOK ON STOCKS

Stocks with short term Bullish Outlook:

STOCK                                                            S1           S2            R1            R2
RELIANCE INFRA                                       512.28     480.52      563.53     583.02
SAIL                                                                87.87       83.08        95.67       98.68


Stocks with short term Bearish Outlook:

STOCK                                                              S1           S2            R1             R2
TCS                                                                1290.8     1277.55      1324.8      1345.55
DR REDDYS LAB                                         1620.23   1596.77      1685.93     1728.17


News To Watch :

1. NSE Nifty and BSE Sensex at 14 months high as reforms continue.

2. Finance ministry cut rates of taxes on overseas borrowings to 5% from 20%.

3. Reliance communications increased mobile phone call prices by 25%  in four
telecom zones.

4. 3% targeted fiscal deficit by FY15, not feasible: Planning Commission.

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