27.11.2013

Nifty Weekly Range For The Week 25th Nov -- 29th NOV 5856 -- 6136, Either Side Sustaining Will Give More 90 Points More, High 6123.50, Low 6035.95, Closed 6059.10.

Market drifts lower in choppy trade as oil rebounds

Key benchmark indices edged lower in choppy trade, with selling intensifying towards the latter part of the trading session. Indian stocks today, 26 November 2013, gave away a portion of Monday's strong gains triggered by hopes that a price decline in oil -- India's biggest import product -- will narrow the nation's current-account deficit, the government's fiscal deficit and contain inflation. Crude oil prices rose today, 26 November 2013, after trimming intraday losses on Monday, 25 November 2013. Monday's volatility in crude oil price materialized after an interim agreement between Iran and six world powers on Sunday, 24 November 2013, to restrict Iran's nuclear program. Iran is one of the leading oil producers in the world.

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

TRADING CALLS 

CASH

BUY RIL IND 843 SL 828 TGT 852 / 869

BUY BPCL 322-324 SL 317 TGT 329 / 336

SELL FINANTECH 169 SL 173 TGT 165 / 162

SELL GLENMARK 506 SL 513 TGT 498 / 489

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

The total turnover on BSE amounted to Rs 3943 crore, higher than Rs 1833.99 crore on Monday, 25 November 2013.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1,459 shares fell and 1,056 shares rose. A total of 139 shares were unchanged.

The BSE Mid-Cap index shed 0.26% and the BSE Small-Cap index fell 0.83%. Both the indices outperformed the Sensex.

The BSE Auto index (up 0.49%), the BSE Power index (up .36%), the BSE Capital Goods index (up 0.32%), the BSE IT index (down 0.29%), the BSE Teck index (down 0.53%), the BSE Metal index (down 0.73%) and the BSE HealthCare index (down 0.77%), outperformed the Sensex

The BSE Consumer Durables index (down 0.89%), the BSE Realty index (down 0.92%), the BSE FMCG index (down 1.14%), the BSE Oil & Gas index (down 1.23%), the BSE PSU index (down 1.36%) and the BSE Bankex (down 1.52%) underperformed the Sensex.

Among the 30-share Sensex pack, 23 stocks fell and rest rose. HDFC (down 1.61%), Dr Reddy's Laboratories (down 1.65%) and Bharti Airtel (down 2.14%) edged lower from the Sensex pack.