Stock Calls For Today
The market witnessed profit taking in the closing minutes whereby, it pared most of its earlier gains and finally closed the session with marginal gain with Sensex at 16912 and the Nifty at 5042. Meantime, U S stocks turned mixed yesterday after the Federal Reserve left interest rates unchanged, saying market conditions were helping the recovery but weakness will persist. The DOW in turn slipped in the negative territory after the announcement with the NASDAQ remaining in the positive. Back home, the market appears to be moving in a choppy way trying to find a trend but remains undecided.
NIFTY FUTURE (Last close 5040.70)
The counter after flat opening yesterday moved range bound till mid afternoon session when a sudden buying in IT, auto, and pharma pulled up the NF to day’s high but it remained short lived and the market slipped in the red. However, a sharp recovery in the closing minute saw the NF moving in the positive territory. The counter finally closed in the positive with marginal gain. The counter appears to be consolidating at current levels and may make an up move once it trades and remains above its weekly resistance at 5061.75, whereby it may move up to 5087/5116. Strong support for the NF exists at 5017.25 which if breached with volumes then NF may slide to 5001/4977.
BUY NIFTY AT-5078 SL- 5057 TARGET- 5104-5130 ……….
SELL NIFTY AT- 5000 SL- 5021 TARGET- 4970-4940 . — Bearish View
Cairn
looking good to go long on short term view.
Target 290+.
SAIL
getting good support at 207,
medium term it can target 221 to 236.
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