Nifty Weekly Range For The Week 12th Aug To 16th Aug 5432 -- 5720, Either Side Sustaining Will Give 86 Points More, High 5704.75, Low 5557.10, Closed 5699.30.
Market hits nearly two-week high; breadth strong
The rupee recovered against the dollar in choppy trade after the government raised import duty on gold and silver ahead of peak festival-season demand as part of efforts to curb dollar outflows and narrow a wide current-account deficit. The partially convertible rupee was hovering at 61.18, stronger than its close of 61.2750/2850 on Monday, 12 August 2013. The rupee had record low of 61.80 in intraday deals on 6 August 2013. The government has increased the import duty on gold to 10% from 8% and on silver to 10% from 6%. The move comes within a day of Finance Minister P. Chidambaram announcing plans to narrow the current-account deficit to 3.7% of gross domestic product in the fiscal year ending March 31, 2014, from 4.8% last year. Gold imports are a substantial drain on the country's foreign-exchange reserves, accounting in part for the Indian rupee falling to record low recently. COURTESY : CAPITAL MARKET
TRADING CALLS :
CASH
BUY ABANOFF SL 228 CMP 232 TGT 236 / 239
BUY JUBLFOOD SL 1032 CMP 1058 TGT 1075 / 1090
SELL BHARTIAIRTEL SL 355 CMP 347 TGT 342 / 338
SELL TISCO SL 245 CMP 241.50 TGT 238 / 235
FO
SELL NIFTY 5725--5745 SL 5775 TGT 5650 !
SELL INFY 3095--3125 SL 3160 TGT 3000 !
DISCLAIMER : THE TEAM IS NOT RESPONSIBLE FOR ANY LOSSES OCCURED DURING ANY TRADE !
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