ICICI Bank ICICI Bank we had discussed few days before pulled back from the resistance of 1232 and is back to 1167 which is a trendline support.Holding the low of 1167 bounce back can be expected. Buy above 1180 Tgt 1192,1203 and 1216 SL 1167 Sell below 1165 Tgt 1158,1145 and 1122 SL 1172… Read More »
Century Textile Century textile is trading in a perfect down trending channel with support at 385 and resistance at 404. Yesterday fall was backed by volumes, If stock is able to hold range of 380 can see a bounce back till 400 odd levels. Buy above 392 Tgt 395,400 and 404 SL 389 Sell below… Read More »
SBI SBI the main index contributor for Bank Nifty is very crucial juncture before the RBI policy, Stock has taken support at 2483 and resistance at downward trendline at 2533. Below 2483 stock can fall till 2424 odd levels and above 2533 2570 is on cards. Buy above 2504 Tgt 2522,2550 and 2574 SL 2483… Read More »
Bank Nifty will be in focus today as RBI will unveil its credit policy today at 11 AM, Market Participants , Government and Corporate India have long standing expectations of an interest rate cut to boost sagging growth. RBI said in its report on Macroeconomic and Monetary Developments issued yesterday “Given the preponderance of non-monetary… Read More »
1. FIIs sold 1730 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 36.20 cores with net Open Interest increasing by 29936 contracts. 2. As CNX Nifty Future was up by 3 points with Open Interest in Index Futures increasing by 29936 so FIIs created fresh long in Nifty and Bank Nifty.… Read More »
Rel Infra Reliance Infrastructure will be coming out with its results today.Stock has seen a good bounce back from 512 and came back in channel.Technically till 547 is not crossed stock will remain in pressure. As today results will come volatility will be the name of game in high beta Rel Infra. Buy above 542… Read More »
Event Calendar Period : 28th January – – 8th February 2013. India • Eight Infrastructure Industries (25-31 Jan) • Jan Market service PMI (5 Feb) • Q1 annual GDP govt estimate YoY% (7 Feb) US • Existing Home Sales (22 Jan) • MBA Mortgage Applications (23 Jan) • Initial Jobless claims (MoM) (24 Jan)… Read More »
IVRCL IVRCL fell 21% yesterday on back of news of Killing of NHAI operator. Stock has broken important support level of rs 36 and closed at 33. Break of 31.7 can take further beating of stock 28-25 odd levels range. Sell below 31.7 Tgt 30.3,29.3,27.5 and 25.8 SL 33 IRB IRB is on verge… Read More »
As Nseindia has still not provided the FII data I am discussing the data analysis without using FII Data stats NS closed at 6019 after making high of 6065 and low of 6008. Nifty bounced from our support level of 6000 as discussed yesterday. Nifty is holding 6000 with terrible breadth, Few stocks like Infy,… Read More »
HDIL HDIL lead the carnage for Mid caps for 3 days in row. Stock is down 30% in last 3 trading sessions, as seen in chart below. It all started with HDIL VP selling 1 % promoter stake on Tuesday with deal valuing 57 cores. Market participants are thinking company is going bankrupt, VP has… Read More »