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.