Slide in index heavyweights in Reliance Industries (RIL) and Infosys pulled key benchmark indices lower in what was a choppy trading session. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, reversed direction after an initial rally took both these benchmark indices to their highest level in more than 35 months. The market breadth, indicating the overall health of the market, was negative. The Sensex was provisionally down 60.51 points or 0.29%, up 50.67 points from the day's low and off 332.05 points from the day's high. In the foreign exchange market, the rupee edged higher against the dollar in choppy trade on speculation the Federal Reserve will maintain stimulus for the US economy in the foreseeable future after disappointing US job data for September 2013 released early this week.
NOTE : AFTER 1ST TGT HIT KINDLY REVISED SL TO COST PRICE !
TRADING CALLS
CASH
BUY ONGC 284 SL 279 TGT 289 / 296
BUY CAIRN 323 SL 317 TGT 328 / 334
SELL MCLEOD RUS 275 SL 280 TGT 270 / 264
SELL MCLEOD RUS 275 SL 280 TGT 270 / 264
SELL CIPLA 420 SL 426 TGT 414 / 408
DISCLAIMER : THE AUTHOR IS NOT RESPONSIBLE FOR ANY LOSSES DURING ANY TRADE THIS IS MY VIEW !!
The total turnover on BSE amounted to Rs 2064 crore, lower than Rs 2227 crore on Wednesday, 23 October 2013.
The market breadth, indicating the overall health of the market, was negative. On BSE, 1,292 shares declined and 1,197 shares gained. A total of 184 shares were unchanged.
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