DAILY REPORT FOR
NIFTY (5165 -30 pts)
Supp 5135/5070/5000 Res 5200/5240/5300
SENSEX (17287 -91 pts)
Supp 17200/17030/16900 Res 17400/17540/17630
Outlook for
· Markets should open positive. Nifty intraday support is at 5135. Below 5135, correction up to 5070 may happen. If 5135 is maintained, higher levels are possible. Crossing 5240 will give way to a big rally. Being stock-specific is important in such a market.
· The pullback is expected to sustain until we touch 5350-5400 levels but a breather before that is not ruled out. So regular profit-booking is advised.
· DCB (108):- The stock is looking good to target 128-132. Buy with SL below 97.
· With Chennai Super Kings on top in IPL T20 tournament, India Cements stands to gain. Also their cement dispatches in first month of new financial year have been good. So the stock can rally from current levels.
Disclaimer: These recommendations are based on the theory of technical analysis and personal observations. This does not claim for profit. I am not responsible for any losses made by traders. It is only the outlook of the market with reference to its previous performance. You are advised to take your position with your sense and judgment. I am trying to consider the fundamental validity of stocks as far as possible, but demand and supply affects it with vision variations.
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