SHREE GANESHAY NAMAH !
Bank stocks hammered
Key benchmark indices dropped after Federal Reserve Bank of St. Louis President James Bullard said on Friday, 20 September 2013, that the Federal Reserve could make a small stimulus reduction at its next meeting in October 2013. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets this year. The market sentiment was also hit by the Reserve Bank of India's hawkish tone at its latest monetary policy review on Friday, 20 September 2013.
The barometer index, the 30-share S&P BSE Sensex, fell below the psychological 20,000 mark. The 50-unit CNX Nifty fell below the psychological 6,000 level. Both these indices closed at their lowest levels in almost a week. The Sensex fell 362.75 points or 1.79%, up close to 75 points from the day's low and off about 299 points from the day's high. The market breadth, indicating the overall health of the market, was negative.
CAPITAL MARKET
TRADING CALLS
CASH
BUY RIL IND 869--874 SL 860 TGT 880 / 892
BUY ABAN OFF 211-214 SL 208 TGT 218 / 223
SELL CESC 330--333 SL 336 TGT 325 / 320
SELL GAIL 335--337 SL 340 TGT 330 / 324
FO
BUY SBIN 1640--1651 SL 1630 TGT 1675 / 1692
SELL DR REDDY 2410--2425 SL 2445 TGT 2382 / 2345
DISCLAIMER : THE TEAM IS NOT RESPONSIBLE FOR ANY LOSSES OCCURED DURING ANY TRADE !!
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