Green seems to be the favorite color for the investors on Dalal Street as the market has refused to close in red for the past few days. We Expect another day of flat trade with some stock specific action. We see the Sensex trading in a band of 100 points for the day
AS WE SAID YESTERDAY THAT NIFTY AFTER OPEN – FACE SELLING PRESSURES OR PAUSE – SAME THING HAPPEN !!
NIFTY OPEN IN-LINE OF ASIAN MARKET AT 5232 AND SOON CLIMB-UP AT 5255 AND THEN SELLING PRESSURE STARTS IN NIFTY. ON THURSDAY NIFTY TAKEN SUPPORTS AT WEDNESDAYS LOW I.E., NIFTY FUTURE AT 5221 (NIFTY CASH AT 5214).
THE MAIN THING SEEN IN NIFTY THAT NIFTY NOT BREACHED OR TOUCHED WEDNESDAYS HIGH AT 5177 BUT TAKEN SUPPORT AT WEDNESDAYS LOW.
IT SEEMS THAT THE BULL LOBBY IS STRONG BECAUSE THEY HANDLE ALL SELLING PRESSURE AT 5220, ON THURSDAY WHEN NIFTY REACHED THIS LVL - BULL'S PICKED NIFTY BY GIVING SUPPORT TO BANKING SHARES AND THERE LAST WEAPON , NOT OTHER THEN - RELIANCE IND !!
OTHER THEN THIS, THERE IS NO CHANGE ON CHARTS AS PER OUR YESTERDAYS ANALYSIS. SO READ AGAIN THURSDAY’S DETAILED ANALYSIS…
SAME LVL'S WORKS, SO READ NIFTY LVLS ON OUR NEWS LETTER DATED 16TH MARCH, 2010
It was the turn of Banking sector yesterday with the sectoral index gaining more than 0.6 percent. Technology was another sector that looked good.ICICI Bank and Axis Bank were among top gainers in the Nifty 50 stocks. Idea cellular was the top gainer with a gain of more than 4.7 percent on huge volumes.
Skumars Nationwide is one stock that is looking terrific even after gaining 12 percent yesterday. The stock gained after the news hit the wires that the company is looking to raise $150 million by listing its subsidiary Reid & Taylor.Piramal life and Tyre stocks like CEAT and TVS Srichakra are other gainers.
The stock of MSK projects is likely to shoot up after Welspun group announced plans to buy 75 percent stake in the company for Rs 400 Crores. We see the stock to Cross Rs 200 from the current level of Rs 128.Watch out for select Infra stocks to shoot up on this news. Traders who have taken position in Dalmia Cement could exit the stocks on a gain of 5 to 10 percent today, as the stock might gain on the demerger news. Also book profits in Jayswal Neco after a 2 to 3 percent move today at Rs 38 level