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On upper side immediate resistance is faced at 5280 and 5330 break of which can take us to 5413.
On downside good support is seen at 5115 and then 4963. The Nifty should save this level.
Our view Nifty should play between 5115 - 5280,and will also look at 5115 and 5280 level. Any reversal or break out from these should be considered an opportunity.
Keep eyes on - RNRL, Union Bank, Reliance energy
Deccan Aviation and Kingfisher Airlines together plan to mop up RS 250 million from the equity markets to fund expansion. The UB Group owns 50 per cent stake in Deccan Aviation wants to raise the funds as soon as possible. One might expect the stock to fly today. the stock closed at rs 184 on Wednesday.
IndoAsian Fusegear Ltd is looking out for foreign acquistions to expand in the switch gear market. The company is in advanced talks with two German firms for a consideration of Rs 100 crores. The firm plans to raise capital via FCCB route and preferential issue to promoters.
Varun Shipping is betting big on the shipping Industry by mulling an expansion plan. It plans to spend close to half a billion dollars on acquiring new fleet for Offshore operations. It is worth noting that the company is planning its foray in to rig operations, which is a high margin business. the stock closed up 15% at Rs 76.50 yesterday
Pick No 1- Buy emami ltd (bse code 531162) - Currently trading at 265.5 in BSE. We would give a buy signal at this level anywhere between 264 - 267. Ideal stop loss should be taken 261.. risky trader can take stop loss at 258. Final target and final stop loss only for clients. Clients will exit only after our SMS. You people see the market and trade accordingly
Pick No 2 - Buy Godrej Consumer (bse code 532424) - Looks good at this level. Currently trading at 113.90. Ideal stop loss would be below 107. Final target and stop loss would only for clients. Clients will exit only after our SMS. You people see the market and trade accordingly