Stock Trading Calls/Market Update

Nifty Futures opened near it’s 200 DMA support at 5010 and traded within a twenty point band on both the sides of the support on Monday. However, it closed above the 200 DMA at 5029
The European markets closed with losses on Monday. The FTSE, CAC and the DAX closed with losses of 1.11, 1.21 and 0.57 percents. The US indices were mostly trading with neutral to downward bias on Monday. At the time of this post the US indices were trading with losses of a quarter to nine tenth percents.

Short Term Stock Calls

Buy CenturyTex below 438

Target 450+ in few days

Stoploss 418

Sell Punj Lloyd Ltd

CMP 116.70

The stock is in a long term downtrend. Support is at 104 and resistance is at 121.

FDC Ltd (Hold)

CMP 95.25

The stock is in a long term uptrend. Support is at 93 and resistance is at 110.

GMR Infrastructure Ltd (Hold)

Rs. 55.45

The stock has been in a sideways movement with a negative bias for the past 1 year. The support is at 56 while resistance is at 63. The stock is unlikely to go down sharply despite not performing for over a year.