India's industrial data comes worst than expected. In November, it came to slowest industrial growth of 2.7 than its average annual 11.3%. Domestic markets reacted by giving up their early gains. Also inflation is now worrying market participants a bit more. The complete picture that comes in mind is, it will be bad time for the markets in near term. ... [Continue Reading]
Intraday Stock: BUY RENUKA At 85, Target 87.1
Stock for intraday trading: BUY RENUKA @ 85 for target: 86.05 and 87.1, place protective stop loss at 84.3. We see good buying support in this counter and likely to be bullish today. RSI signals the stock has been in oversold zone and is likely to be bullish in coming days. NOTE: The stock recommended above is for intraday trading only and these positions should be closed at the end of the day. ... [Continue Reading]
Nifty Futures Support Resistance Level For 12 January 2011
Nifty futures was trading lower for last 6 sessions due to negative news of inflation and fear of interest rate hike in near term by RBI. But yesterday nifty finally taking its support at key level of 5700, finally closing above 5800 mark yesterday. So we can conclude that a consolidation period will continue for few session before a bounce back to 5900 levels. So as long as nifty is trading above ... [Continue Reading]
Buy Nifty 5800 Call Option Near 98 for January Series
Broader markets saw strong downtrend for last 5 trading sessions, but Nifty taking support at 5744 (low of November 2010). As nifty is trading above 5744 level we expect the relief rally in nifty targeting the 5950 level zone. So seeing this as an opportunity we recommend to go long on nifty 5800 call near 98 level for target of 157 and 183. A strong upward momentum is expected once nifty future ... [Continue Reading]
Nifty Futures Support Resistance Level For 11 January 2011
Nifty futures has been trading lower for last 5 sessions due to negative news of inflation and fear of interest rate hike in near term by RBI. We saw yesterday nifty touching its double bottom of 5744 level which acts as a strong support level. So as long as nifty is trading above 5744 level we see limited downside with upside potential target of 5989 level. So we would we look for buying ... [Continue Reading]
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