Choppiness to continue, Midcaps in focus Trade on Dalal Street is likely to be choppy, as it has been for the past 3 sessions. The market is now looking for a direction, after the key quarterly numbers are out. We expect the market to remain lacklustre for the next few sessions. The benchmark index or the Sensex is likely to trade within a band of 100 points for the day and 15,500.00 remains a strong resistance for the market.
On Wall Street, stocks ended little changed Tuesday as a key barometer of consumer confidence and a handful of disappointing earnings reports reminded investors that an economic recovery this year is far from assured.The Dow finished down 11.79, or 0.1 percent, to 9,096.72 after being down as much as 101 points. The broader Standard & Poor's 500 index fell 2.56, or 0.3 percent, to 979.62. The Nasdaq composite index rose 7.62, or 0.4 percent, to 1,975.51. Comments from RBI governor might come as good news for the market, as the Reserve Bank of India today said prospects of an economic recovery in the middle of the financial year had improved and the growth projections for gross domestic product have been revised to “6 per cent, with an upward bias”. As we have expected realty was major gainer in the sluggish market on Tuesday, gaining more than 4 percent of for the day.Metals and Auto were also in demand. Tata Motors perked up by more than 10 percent on upbeat news about a deal with the UK government and improving prospects of four wheeler stocks. Unitech and DLF were major beneficiaries of a housing loan subsidy by the government. NHPC has fixed a price band of Rs 30- Rs 36 for its upcoming IPO and it will interesting to watch JP Hydro which is in the same space.Realty might extend gains in to today and provide an opportunity take some profits.Tech sectors looks good for day traders today, after a pull back for couple of days. Midcaps remained strong in a flat market on Tuesday amd the Midcap Index gained more than one percent for the day. We strongly believe that Midcaps will continue to be string and outperform the index in the coming days and it is a great idea to stick to midcap stocks if you are a bull. Tata Steel, Tata Elexi, Alok Ind, Rajesh Exports and Baja Hindustan are some of the stocks to watch out in today's market. "USE EVERY RISE TO BOOK PROFITS" "ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS" Key Levels for Today Trade: NIFTY INDEX Resistance : 4572 / 4583 / 4637 / 4655 NIFTY INDEX Support : 4551 / 4523 / 4502 / 4469 Mean : 4561.5 Key Numbers for NIFTY on upside ------ Key numbers for NIFTY on down side ------- Key resistance for NIFTY for this settlement ------ BANK NIFTY INDEX Resistance: 7382 / 7437 / 7563 BANK NIFTY INDEX Support : 7233 / 7155 / 6992 Mean : 7307.5 Previous Close Box: BSE Sensex 15331.94 -43.10 NSE Nifty 4564.10 -8.20 USD Rs.48.21 Oil Nymex $66.72 --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
