08.11.2013

Nifty Weekly Range For The Week 05th Nov -- 08th NOV 6166 -- 6460, Either Side Sustaining Will Give More 130 Points More, High 6304.75, Low 6180.80, Closed 6187.25.

Key benchmark indices edged lower, in what was a highly volatile trading session after global credit rating agency Standard and Poor's (S&P) today, 7 November 2013, warned that it may lower India's rating to speculative grade from investment grade next year if the government that takes office after the general election fails to provide a credible plan to reverse the country's low economic growth. The barometer index, the S&P BSE Sensex, provisionally settled below the psychological 21,000 mark, after regaining that level in early afternoon trade. The Sensex and the 50-unit CNX Nifty, both, hit their lowest level in over one week in late trade. The Sensex was provisionally down 82.73 points or 0.4%, off close to 330 points from the day's high and up about 15 points from the day's low. The market breadth, indicating the overall health of the market, was negative. NSE’s INDIA VIX, was down 1.88% level, at 19.87. Amongest the Indices CNX SMALLCAP was down 1.51 % closed at 3,140.05

NOTE : AFTER 1ST TGT HIT KINDLY REVISED SL TO COST PRICE !

TRADING CALLS 

CASH

BUY ADANIEN 207--209 SL 203 TGT 215 / 222

BUY LUPIN 875 SL 864 TGT 883 / 895

BUY BANKOF BARODA 605 SL 592 TGT 612 / 620

SELL MCLEOD 266 SL 272 TGT 262 / 256

DISCLAIMER : THE AUTHOR IS NOT RESPONSIBLE FOR ANY LOSSES DURING ANY TRADE THIS IS MY VIEW !!

The market breadth, indicating the overall health of the market, was negative. On BSE, 1,402 shares fell and 1,080 shares rose. A total of 149 shares were unchanged.

The total turnover on BSE amounted to Rs 2077 crore, higher than Rs 1882.43 crore on Wednesday, 6 November 2013.

The S&P BSE Realty index (down 2.62%), the S&P BSE Consumer Durables index (down 2.26%), the S&P BSE Bankex (down 2.11%), the S&P BSE Power index (down 1.97%), the S&P BSE PSU index (down 1.46%), the S&P BSE Capital Goods index (down 1.4%), the S&P BSE Oil & Gas index (down 1.17%) and the S&P BSE Auto index (down 1.01%), underperformed the Sensex.

The S&P BSE FMCG index (down 0.22%), the S&P BSE Healthcare index (down 0.01%), the S&P BSE Teck index (up 0.61%), the S&P BSE Metal index (up 0.64%) and the S&P BSE IT index (up 1.25%), outperformed the Sensex.

Among the 30-share Sensex pack, 17 stocks fell, 12 stocks rose and 1 stock was unchanged.