Market Outlook:
The markets gave off from the days high and ended in red. All the major sectoral indices ended in red, banking and metal counters being the worst hit.
Nifty:
The markets gave off from the day’s high and ended in red. The 100 DMA at 5,209 will act as a stiff resistance for Nifty. Fresh Positive development can be seen only if Nifty closes above 5,200/5,220 levels until then expect consolidation to continue in the range of 5,050 on the lower side and 5,220 on the higher side. The 200 DMA at 5,085 will act as an immediate support for Nifty.
Support: Major support level 5,080/5,050.
|
Trading Ideas
- Positive bias is in stocks like Lupin Jun Fut (Target 560), IGL(Target 288), Tata Motors (Target 275), Yes Bank (Target 360),Reliance Ind (Target 760), Tata Global (Target 125). Traders maintain stop-loss accordingly.
Option Ideas
- On the option front Buy 5200 CE. Traders maintain stop-loss accordingly.
Investment Ideas
- Marico CMP @ Rs172 (Target Price: Rs191)
|
No comments:
Post a Comment