No Updates till 06 Apr. 2010

Updates will Resume on Wednesday 7 Apr. 2010 ....

Last trading day of the Financial Year

Yesterday, As we said in earlier post Nifty is facing Resistance at higher levels or Profit booking. In the earlier hours Indian market traded almost Flat but in end of the day selling pressure led it to close on weak note.

Sensex closed at 17590, 121 points down & Nifty at 5262, 40 points down from the Previous close.

The US markets closed flattish with a positve bias. The Dow jones closed at 10907.42 up by 11.56 points, The Nasdaq closed at 2410.69 up by 6.33 points. The S&P 500 closed shop at 1173.27, up 0.05 points.

The Asian markets are trading mixed. The Nikkei average is at 11130.98, up 33.84 points from its previous close. The Hang seng has slipped 20.27 points to 21354.52 levels. The Kospi has declined 0.55 points to 1699.64 levels. The Shanghai composite is currently at 3115.19, down 13.28 points.

Today is the last trading day of the Financial Year, So there could be some amount aggressive profit locking or loss Booking exercise to carry forward the losses to the Next financial year.

The trend may not be clear but there are lots of positive expectation from quarterly results. Volatile session expected with support levels 5248-5200, Nifty face resistance around 5315-5335 levels.

Cement & Real Estate sectors may looking attractive.

Stock for Watch:

Andhra Bank: Buy Around 103-105 sl below 100 for tgt 113-118

Balrampur Chini: Buy around 95 levels with sl 89 for tgt 106-110.

Need to Sustain above 5325 !!!!

Yesterday, The Sensex closed at 17711, up 66 points & Nifty at 5302 , up 20 points from the previous close.

The Us market closed positive with gains in commodity stocks. The Dow jones closed at 10895.86, up by 45.5 points, The Nasdaq ended at 2404.36, up by 9.23 points, The S&P 500 closed at 1173.222, up by 6.63 points from its previous close.

Nothing change in our view on market as we said in our earlier post that nifty face resistance 5310-5325, if nifty able to sustain above on 5325 than nifty will blast and touch 5450 in medium term & 5600-5750 in long term nifty.However despite the fact that market seem to be an over bought zone, but historical data suggest that it is the tendency of market to remain going in this zone fair length of time.

Today We expact Positive opening for Indian Market on the back of gains from global markets, Nifty face resitance at higher levels or profit booking will come around 5325-5335.nifty has support around 5248-5279.

Stock for watch:

Buy Amtak Auto: around 187-190 sl 183 tgt 200-204

Previous Calls:

Bajaj auto , L&T & ambuja cement all rocking.

Book hindalco Partly & Hold APIL.

Correction or Blast in indain market ? ? ?

On Friday, 1st day of April series ended with positive note.The Sensex closed at 17644.76, up 85.91 & Nifty closed at 5282, up 21.60 points from the previous closed.

The US markets closed Flattish. Dow ended up 9.15 points while Nasdaq was down 2.28 points, While The S&P 500 closed shop at 1166.59, Higher by 0.86 points from its previous close.

The Asian markets are trading mixed. The Nikkei average is currently at 10939.13, lower by 57.24 points from its previous close. The Hang Seng has strenghended 167.87 points to 21220.98 levels. The Kospi has inched up 0.84 points to 1697.96.Gaining 67.01 points, the Shanghai Composite is currently at 3126.72 levels.

As we said that Nifty has face resistance around 5290 & 5310 in earlier post. Yesterday NIfty has reverse back from 5292,If nifty cross 5325 than It can touch 5450-5600 in near term.

On Down side Nifty has strong support around 5200 & 5160 below it will test 5100 & if it break than can touch 5000.

Stock for watch:

Apil: Buy around 622-627 Sl 608 tgt 660-680-720

Hindalco: buy above (if it cross with vol)180.5 SL 172 Tgt 195-200

For risky player:

Ambuja Cement: Buy around 117-120 SL 113 tgt 125-128

Areva T & D : Buy around 311-312 Sl 307.5 Tgt 320-322

Also Watch :

Bajaj Auto & L&T Above 1640

NIFTY trying to make new high ? ? ?

Yesterday Indian Market opened negative because of negative global cues but ended near the day high because of capital goods, health care, IT srocks attracted buying interest.The sensex closed at 17558.85, up 107.83 & nifty closed at 5260.4, up 35.1 points from the previous close.

The US markets have closed mixed. Dow ended up 0.1% while Nasdaq was down 0.1%.

The Asian markets are trading mixed. Nikkei has edged higher while Taiwan has shed nearly a percent.

Today we are expecting flate opening & slightly down, Nifty will face resitance at 5290-5310. At lower side 5200 act as major support as mentioned in earlier post also.

Stock for watch:

Rpower if sustain above 150 than can touch 160 level.

Union bank above 290 tgt 320

Mundraport above 740

Jindal steel looking good for day trade.

Previous calls:

Herohonda achieved its 1st tgt.

APIL achieved its all tgt.

Infosys achived its all tgt.

Trend is your Friend !!

Always Trade in the direction of the trend with reasonable stoploss and never against it.

On Tuesday Indian market opened positive because of positive global cues, After a Volatile session closed positive with marginal gains. Sensex up 40 points closed at 17451 & Nifty up 20 points closed at 5225 from the Previous close.

The US markets have closed in the negative Zone. Dow has ended down 0.5% while Nasdaq was down 0.7% from the previous close.

The Asian markets are trading with modest gains. Nikkei has edged higher while kospi has clocked gains on financial stocks.

Today we expect highly volatile session because of Derivatives expiry & Inflation data.

Nifty will face selling pressure at higher levels, Nifty holding 5200 level in last 2 sessions, If Nifty break it then it will test 5180-5160 levels.

At higher levels Nifty has Strong Resistance at 5290-5310, If Nifty able to cross 5325 then we will see new high in Market, It can touch 5400-5450.

Stock For Watch:

RPG LIFE SCEINCE LTD.

Buy around 80-82.5 with sl below 77 for tgt 92, and If crosses 92 with volumes then it can touch 108-118.

TATA ELXSIS LTD:

Buy around 331-336 sl 323 tgt 355-360, If crosses 365 with volume than it can touch 400-410 in near term.

PUNJLLOYD:

Strong support at 170 & also given pull back sign,Risky players can buy around 174-178 with sl 168 for tgt 188-195.

.

The India Cement LTD.:

Buy around 132-133 sl 129.5 tgt 138

NELCO LTD:

Buy if Sustain above 133 with sl 125 for tgt 145-150+

JSWSTEEL Can touch 1300-1310 in near term.

Grasim looking weak on charts can touch 2760-2750 in near term.

Previous Calls:

Cairn Achieved its all tgt.

No Updates Today

No updates today because of Internet Problem, Only Live calls will give on Yahoo msnger.

Don't Be a Compulsive Trader !!

"You Cannot Control The Environment And The External Factors That Control The Stock Price Movement,But You can Control YourSelf" - Mark Dougals

we are not market maker, we are the followers. So we have to follow the trend.

RBI increased both Repo rate & reverse repo rate by 25 basis point to 8%.The reverse repo rate hiked to 3.5% from 3.25%, While Repo rate hiked to 5% from 4.75%. RBI Said measure is for reduce the inflation.
RBI's hike of Repo rate & Reverse Repo rate was not unexpected because Inflation is going higher like a Rocket. To control the Inflation RBI has take this Bold Step.
This measure has negative impact on many sectors.

The Market may react negative open to the RBI hike of Repo rate & Reverse Repo rate.
On friday Indian market was closed with marginal gains. Sensex closed at 17578, up 58 points, and Nifty at 5268, up 16 points from the previous close.
The US market closed Negative. The Dow jones Down by 37.19 points, The Nasdaq Down by 16.87 points, The S&P closed down by 5.93 points from its previous close.

The Asian Markets are retreating. Kospi has edged lower on refineries and banking stocks. Taiwan has inched down as chip makers have edged lower. Japanese markets are shut today due to national holiday.

So we are expecting Indian market open Negatively & Volatile session. Traders are Suggested do not go short at the time of Opening, first see the market trend then trade with strict stoploss & be stock specific.
Nifty may face selling pressure at higher levels, 5285-5310 May act as strong Resistance levels while 5220 may act as a good support, Breaking this level may result to slip up to next support level 5160-5180 as said in our earlier post.

Stock for Watch:
Greaves Cotton LTD:
Buy around 298-302 with sl 288 for tgt 330-340.

Deccan Chronicle Hold LTD (DCHL):

For risky players buy around 170-172 sl 164 tgt 185-188.

Buy IOC @ 298-301 with sl 294 for tgt 308-311.

Previous Calls:

Century Enka achieved first tgt in a single day.

Skumar achieved its tgt in a single day.

Arvind mill almost achieved its first tgt (Made 36.40) still looking positive.

Vakrangee Soft Ltd achieved its all tgt.

5300 ????

Volatile session closed with marginally gains.Sensex closed at 17519,up 29 points & nifty at 5245 up 14 points from the previous close.
Today 5220 may act as a good support for nifty Breaking this level may result to slip up to next support level 5160-5180.

The US market closed mixed. The Dow jones up by 45.50 points, The Nasdaq up by 2.19 points, The S&P closed down by 0.38 points from its previous close.

Market may subdued on the back of mixed Asian cues,view is same be stock specific.

AT upper side nifty face strong resistance around 5285-5310.Trader are suggested to be cautious of long position at these levels or book profit.
BE selective & patience.

Stock for watch :
Century Enka Ltd:
Buy Around 284-288 SL 275 tgt 303-325


Greenply industries Ltd
Investment Pick Buy around 195-198 & buy more on dip till 185 SL 175 tgt 250-275 IN 6-8 weeks.



Irb Infra can touch 278-280 in coming days.
Can bank can touch 416-420 in coming days.

Heidelberg cement Ltd:
Buy Around 50-51 SL 47 tgt 58-60

Arvind mill:
Buy 34-35 SL 32.8 tgt 37-38

Skumar :
Buy around 55-56 SL 52 Tgt 64-68

Also Watch :
Bajaj Auto & Ceat.

Previous Calls
Apil Achived its 1st tgt.
Infosys almost achived its 1st tgt , one can book profit.
Vakrangee Soft Ltd has touch 91, one book 50% profit.
Cairn Hold or book 50% profit.

Nifty Done 5250!!!

In Earlier post we said that Nifty can touch 5250,,, Now its done!!!

Sensex closed at 17490, up by 106 points & Nifty 5251 up by 33 points from the Previous close.

Today 5204 may act as a good support for nifty Breaking this level may result to slip up to next support level 5160-5180.

Nifty may attract Buying at lower levels, Traders should remain caution at profit booking at higher levels.

High Volatility expected.

The US market closed positive. The Dow jones 47.69+, The Nasdaq 11.08+, & The S&P 6.75+ from previous close.

The Asian markets are trading in the mixed. The Nikkei Average is at 10832.31, down 14.67 points from its previous close. The Hang Seng is currently at 21384.49, up 0.1 points from its previous close. The Kospi has gained 2.02 points from its previous close to 1684.88. Adding 1.14 points, the Shanghai Composite is currently at 3051.76 levels.

Positive out look for market opening.

Stock for Watch:

NMDC

HCLTECH

Bull's win ! ! !

After fighting of 8 sessions finally bull cross the cheer line.Yesterday Indian market traded positive thourghout the day.Sensex closed at 17383, up 218 points & Nifty at 5198, up 69 points from the previous close.

As we said in our earlier post that nifty has resitance at 5160 after crossing that level nifty will give 50-70 points upward. So now we are expecting nifty tgt 5225 - 5250+ in coming days.

The US market Closed in the Positive terrain. The Dow Jones closed at 43.83+, The Nasdaq up by 15.80 points, The S&P up by 8.95 points from previous close..

Market looking good for today on the back of positive Global cues..

Stocks for Watch:

Infosys Tech:

Buy around 2720-2730 SL below 2683 Tgt 2800-2825.

Vakrangee Soft Ltd:

Buy above 84 Sl 80 tgt 96-98

TCS:
Tcs has done its all tgt book profit & exit.For fresh buying wait for breakout above 830 (with vol.)

Also Watch:

Ceat, jaicrop, Tatasteel, Adani power.

Previous Calls:

Chennai Petro achieved all tgt in a just 2 sessions.

Cairn hold

Tatapower & educomp done well.

Fighting for Cross the line !!!!

Life & Time are the world’s BEST two Teachers.
Life teaches us the use of the Time….&
Time teaches us the value of the Life..!!!

!! नव वर्ष की हार्दिक शुभकामनायें !!

Nothing much change in nifty after a volatile session, Market close marginally down. Wait & Watch for levels 5100-5160.

Fight running between Bull & Bear, Let See who will win the Battle...

The US market closed mixed. The Dow Jones advanced 17.46 points to close at 10642.15. Shedding 5.45 points, the Nasdaq ended at 2362.21 levels. The S&P 500 closed shop at 1150.51, higher by 0.52 points from its previous close.

The Asian markets are trading in the positive terrain. The Nikkei Average is at 10776.52, up 24.54 points from its previous close. The Kospi has gained 2.51 points to 1652.01. Adding 8.67 points, the Shanghai Composite is currently at 2985.61 levels. The Hang Seng has strengthened 59.01 points to 21138.10 levels.

Stock for Watch:

EDUCOMP

TATAPOWER

Previous Calls:

Chennai Petro achieved 1st tgt in a single day

TCS achieved its 2nd Tgt

HDFC sl hit

APIL near to Target

What Next ???

Learn From the Mistakes of Others. U can't Live long Enough to Make them all Yourself.

TRADE WITH STRICT STOP LOSS, SO THAT NEXT DAY U CAN TRADE

Nifty view :

As we perivously said nifty is range bound not able to sustain at higher.nothing as much change in nifty,If nifty will close above 5150 or cross 5160 than 50-70 point up ward movement will come.

US Market closed 12.85+ from previous close. The Nasdaq declined 0.8 points. The S&P 500 dropped 0.25 points.

Market may open down because of Asian Markets.

STOCK to WATCHOUT for:

HDFC LTD:

Buy around 2710-2715 sl 2685 tgt 2790-2800 in 6-8 weeks

CHENNAI PETRO:

Buy around 253-255 with sl 248 for tgt 265-270

CAIRN INDIA:

Buy Around 275-277 sl 270 for tgt 290-295

STER:

Buy around 825-828 sl 819 tgt 840- 850-870.

COLGATE:

Buy aound 733-738 sl 713 tgt 780 -790 (Risky Players Only)

Also Watch:

Escort above 160, Garware offshore above 198, Patni above 520, Mudra life style above 40

Yesterday Call:

TCS achived 1st tgt

HeroHonda hold for tgt

ABB Buy only if crosses above 875 with Vol.

Boring Market showing some excitement ! ! !

Market may open up on back of modest gains in rest of Asia & US Market.IIP data set to released today would influence most part of the day's trade.

The Sensex closed at 17167.96,up by 69.63 points from its previous close. The Nifty closed shop at 5133.40 levels, up 17.15 points.

Nifty is not able to sustain at higher levels.If Nifty Cross and sustain above 5150 than we can see sharp move on nifty 50-100 points.

Volatile market giving players chance to play either side.

Stock for watch:

Buy Abb Above 875 (if crosses with vol.) SL 820 tgt 950 -1000 in 4-6 weeks

Hero Honda:

Buy Around 1900-1910 & buy more on deeps SL 1850 tgt 2050-2075 in 2-3 week.

AIA ENGINEERING LTD

Given Small breakout Buy Around 364-366 Sl 358 tgt 380-385

BEL:

Buy Around 2065-2070 Sl 2038 Tgt 2115-2135

Also Watch :

Educomp

Thermax

Hcl Tech

Previous Calls:

Dewan Housing almost achieved Tgt.

Eveready SL hit

APIL HOld Near to Tgt.

TCS Done well in a day near to tgt.

Grasim has achieved second tgt.

No clear Direction

In earlier post we said that nifty is range bound between 5080 to 5150.If nifty close below 5070 than it can be touch 5000-4950 or if cross 5150 than can touch 5250-5300.Market goes either direction.
Today (10/03/2010) The market has closed on a positive note mirroring marginal gains in oil & gas, FMCG and realty stocks. The Sensex closed at 17098.33, higher by 45.79 points from its previous close. The Nifty ended at 5116.25 levels, up 14.75 points.
Indian markets may await the outcome of IIP numbers during the end of the week and thereafter announcement of advance tax numbers for a clear trend.

The US markets have closed in the positive zone. Dow ended up 0.03% while Nasdaq was up 0.8%. The Asian markets are advancing after two days of flat trading. Nikkei has edged higher on exporter stocks. Kospi has clocked gains ahead of the central banks interest rate decision. Taiwan has surged higher on the chip makers.
So we are Expacting Flat opening.
Stock For watch :
Buy Eveready Ind around 66 Sl 63 Tgt 72




Buy tcs around 775-780 Sl 763 tgt 800-820 in near term.



Seago Looking week on chart, ot can touch 420-410 in near term one can book profit at higher level.

Yesterday Call:

Apar Industries Ltd :
Done well in a singal day it has touch 204 which is his minnor resitance said in earlyier post, now if it cross 205 than fresh buy.

Aban:
Aban has touch 1313 in a day.Investor can hold for target.

AMTEK:
bUY Only above 75 if it cross with vol.

Great offshore Ltd:
Exit form it. Buy if it cross 448 with vol.

Winning is not everything but wanting to win is.

"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." WARREN UNCLE ...

It is not necessary to trade everyday sometime wait n watch is good for health & wealth.

The Sensex is currently at 17100.75, down 0.01% from the previous close. The Nifty lost 0.2% and is at 5115.85.Trader can trade with Stop Loss at the intermediate support levels.

Market is range bound between 5150 to 4950.Nifty is not able to cross higher level. It indicates some short term correction will come.If market will cross 5150 than possible to touch 5200-5250.

Buy on deep in selective stocks or wait for fresh signal.

The US markets have closed in the positive terrain. Dow ended up 0.1% while Nasdaq was up 0.4%.

The Asian markets are trading flat for the third consecutive day. Nikkei has edged lower on auto stocks.

Kospi has inched down on electronic counters. Taiwan has clocked gains on chip linked stocks.

so we are expecting our mkt flat open

Stock for watch:

Great offshore Ltd

Buy 438-400 SL below 428 Tgt 460-465

Apar Indutries Ltd

Buy around 189-192 Sl 174 tgt 220-230

Anant RAj Indus Ltd

Buy 138-139 SL 131 tgt 150-155

Amtek India Ltd

buy above 75 if crosses with vol. Sl 71 tgt 85-90

Aban

Buy around 1280-1283 SL 1249 Tgt 1330-1350

Range Bound Market be stocks specific

Fundamentals:
Yesterday we saw a positive session on continued strong global cues. All stock did will with small caps doing the best followed by large caps and mid caps. The markets still have strong bullish undertones. The US markets closed flat after closing up for 6 straight sessions, the breather was expected after the recent rally. We do not expect the broad markets to move too much from here, we could see a period of consolidation. The trend remains positive and 5110 remains a difficult level to break. The second week of march will be crucial as will the following summer months. Earning will be reported in April, if earnings and guidance are positive as expected we can see the markets continue to move up. In the mean time there are no significant events that indicate a strong down move.
The NMDC IPO coming in a price band of 300-350 EPS is expected to be Rs 14 and the stock looks expensive at 350. 300 to 320 seems like a fair value for the stock. It does not make sense to hold NMDC in the portfolio pre-IPO as you will be able to buy it back cheaper.

As Earlier Post we said that nifty face stiff resistance of 61.8% retracement level near 5130 level & selling pressure at higher level.

Sensex closed at 17102 up 108 point & nifty at 5124 up 35 point from previous point.

NIfty has support at 5080 & Resistance 5150.

Trade in selected stock.

Our Call:

ABB,Mahindra forging & Alkali metal achieved their tgt.

Century Text almost achieved its 1st tgt.

Hold APil & Gail.

Stock for Watch:

BOMDYEING watch for quick trade, Can touch 595-600

Nifty 5300 or 4800 ??????????????

Sensex Closed at 16979 up 23 point & nifty at 5088 up 8 point from the previous close.

Technically Nifty Face resistance at 61.8% retracement, If nifty is able to cross 5130 it could be positive sign for market. Till than book profit. Do trade in discipline- book profit - reduce leverage position- generate cash.

Yesterday market opened with good gain but face resistance 61.8% retracement or profit booking at higher level, However renewed buying in the last hour led in indicies to close with marginal gain.

Trader suggested to book profit & trade in selected stock , avoid leverage position.

Fundamentals:

The markets were mixed on Friday with Large caps weak while mid-caps outperformed. Global markets including the Dow and Asia closed positive on Friday on the back of strong economic data, as jobs numbers came in positive. The market was expecting 65000 jobs lost while the actual number was 35000. December and Jan data was also revised downwards. We can expect to see the Indian markets open positive today. Identify sector that haven’t rallied, real estate is a good example. We still remain positive on Banking and Autos as well. It is difficult to predict markets for the medium term however short term we can expect market to continue to remain positive. We do not advise keeping large cash positions. However profits will have to be taken quickly if stocks rally. The last half of march could see downside as liquidity dries up. Buy on dips, the market trend remains bullish as the recent lows have not been broken, but forming new highs could be difficult.

Yesterday Call:

Canara bank achived Tgt in just 2 trading sessions.

BEL 5% up done very well in intraday.

Bhushan steel, hold for Tgt please maintain SL strictly.

GRasim also done very well alomst achived 1st tgt,one can hold for 2nd tgt.

Stock for Watch:

APil: Buy above 566 Sl 557 tgt 595-615 for short term view.

ABB:
Yesterday we have recommended BTST to our clients.
For fresh position one can, Buy above 822 SL 815 Tgt 835-850.

Alkali Metals

Buy above 123.5 sl 118 tgt 135-145

Century Textile:

buy Above 516 sl 504 tgt 530-545

Buy gail @ 408 sl 398 tgt1 431
there is some rr at 413 -after that 52 week high abt 445 seems to be a good tgt

Godrej Industries 160 sl155.5 tgt 168.5

sell ivrcl-338cmp sl 343 tgt 322

Short Term Traders Can Also Watch:

Castrol, DLF, Jindal Steel, Suzlon.

Sensex will it cross 17200 ????

Fundamentals:

US markets closed positive up 0.47% on the back of economic data. Jobless claims were lower than expected. Japan and shanghai were also positive. China said it would trying to curb lending growth going forward, this would have a negative impact on growth. Food prices came in higher, which may lead the RBI to hike interest rates in the near future. This could have a negative impact on banks.

Technicals:

Nifty is showing tiredness and will find it difficult to cross 5100 on closing basis. Currently Asia is trading positive with gains ranging from 0.5% to 2.0%. Dow is also at its resistance level of 10450. If dow manages to close over 10500 then we can close over 5110. Nifty’s next resistance will be at 5188 at 5200.

Market Analysis:

Metals, Banking, and Real Estate closed with a strong bias yesterday. Sesa Goa, Bhushan Steel, SAIL, Hindustan Zinc all gained over 4%. Bhushan was the strongest making a 52 week high and seeing a long build up of 20.77%. Short covering was witnessed in India Bulls Real, and Unitech. DLF closed above 300 again, this forms a strong support for DLF, and real estate stock could rally if the market sentiment remains positive. Oil and Gas and Pharma were the weakest performing sectors. In the cap goods space Crompton and Siemens made 52 week highs, Crompton saw a 74% OI increase indicating a long build up in the stock, Siemens had a long build up of 17%.

Choppy market, 17200 will decide the trend.IF cross and close above 17200 than we can see some positive movement.Till than wait n watch & trade in selected stock which is giving positive movement.

Yesterday our top pick Jindal Saw & Mcleod Russel has complete their Target.........

& also Canara bank move in a single day trader can book partly profit & raise their Stop Loss......

Dewan Housing Touch 200 but not able to cross.So trader wait for sustain above 200,Buy only above 200 with maintain strict SL.

Dabur can give quick movement if crosses 172 (with vol).........

Stock for watch:

BEl for intraday or one can hold for short term.

Bhushan Steel:

Buy around 1725-1740 or in dip with Stop loss 1645 tgt 1950-2000 for short term view........

Grasim has given breakout buy around 2750-2760 SL 2700 tgt 2850-2880 for short term view.

Mahidra Forgings Ltd:

Stock giving breakout buy around 118-121 SL 110 tgt 135-145.

Maytas Infr Ltd:

Buy around 188-186 SL 180 tgt 205-215 very short term view...

Unitech Ltd:

Buy around 78-77 Sl 74.5 tgt 88-90.............

My View..........................

Fundamentals:

US markets opened positive and was up 0.5% however due to strong resistance the markets closed flat. The US markets were up due to strong economic data. The service industry grew at a faster pace than what it was expected. The Service index was at 53 which was better than the economist had expected. However DOW has very strong resistance at 10450 due to which it closed flat. The Indian markets closed 71 points positive. This was on account of economic data which showed that the Indian service industry grew at its fastest in 17 months to reach 60.9. The IT sector outperformed the market on the news that the government is going to spend 6500 cr on 10 fresh IT contracts. These contracts are related to implementation of GST, Direct Tax Code, National Treasury Management Agency to name a few.

Top Gainers
Scrip	Price	%Change
Indiabulls financial services	114.90	11.45%
Triveni	125.65	9.83%
Nectar Life	39.75	8.61%
Aqua Logistics	259.70	8.43%
Karnataka Bank	126.60	8.25%

Top Losers
Scrip	Price	%Change
Bajaj Electricals	192.45	-7.12%
Asian Electronics	33.85	-3.56%
PVP Ventures	24.15	-3.59
Kalindee	156.55	-3.12%
Kernex	127.65	-2.67%

52 Week High
Scrip	Last	High
Bajaj Auto	1878.45	1890.00
Bank Of Baroda	603.90	633.50
Cadila	793.40	807.00
MundraPort	714.60	723.85
Ultra tech Cement	1079.75	1100.00

52 Week Low
Scrip	Last	Low
TTK Health	279.35	255.65
Northgate	18.90	18.10
-	-	-
-	-	-
-	-

Technicals:

Strong resistance at 5110, if broken next resistance is at 5180. The market will find it difficult to break 5180 without strong global cues. The Dow has strong resistance at 10450 and is also overbought. Indian markets are in a similar situation with RSI approaching 60.

MACD is approaching 0, and trend saturation is around the corner. Be careful about going long. Intraday calls should also be taken with stop-losses. We would advise increase cash at 5140 levels.

Our Top picks are:

Jindal Saw: CMP 201, SL: 197, TGT: 210

Mcleod Russel: CMP 224, SL: 218, TGT: 236

Market Analysis:

Consumer goods, Asian paints, Pantaloon, United Spirits all closed on a positive note, gaining in the range of 5%. Significant short covering was seen in Asian paints as OIs reduced 33%. Pantaloon attempted its 50DMA but closed slightly below at 402. The stock also saw a long build up of 10.75% which is bullish. IT was mixed as several mid-caps underperformed. Patni however saw short covering. In the pharma space Piramal healthcare, and opto circuits closed with a negative bias, with a short build up in Piramal of 10%.

Stock for Watch...........................................

Indusind Bank:

Channel breakout one can buy above 168 With Stop Loss 164 For target 180+ very short term view.

Dewan Housing Fin Corp LT

Stock given triangle break out. Above 200 it can touch 220+.

Canara Bank:

Stock given fresh break out yesterday and will be confirmed above 416 (with vol).

Buy around 410-415 or above 416 with Stop Loss 404 for target price 435-440 with a short to medium term view.

Dabur India Ltd....

Buy if goes above 172 with volume for tgt 178-180 with short term view Stop Loss 170.