10.12.2013

Nifty Spot Closing Below 6342 Will Fall To 6235 / 6112. Weekly Range For Nifty Spot 6445--6250.

Indian stocks surged today, 9 December 2013, after a strong performance of Bharatiya Janata Party (BJP) in assembly elections. The investor community is betting that BJP's win in Lok Sabha elections next year under the leadership of pro development leader -- Narendra Modi -- would help solve India's intrinsic problems, boost investments and propel economic growth which has seen a consistent slide under the UPA government in last one decade. The market sentiment was also boosted by data showing that foreign funds remained buyers of Indian stocks on Friday, 6 December 2013. In the foreign exchange market, the rupee edged higher against the dollar. The barometer index, the S&P BSE Sensex, regained the psychological 21,000 mark. The Sensex was provisionally up 290.02 points or 1.38%, up about 5 points from the day's low and off close to 200 points from the day's high

NSE’s INDIA VIX, was down 13.73 % level, at 19.16. Amongest the Indices CNX SMALLCAP was up 0.40 % closed at 3,262.35.

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

TRADING CALLS 

CASH

BUY IOC 208 SL 204 TGT 212 / 219

BUY CENTURYTEX 280 SL 275 TGT 284.50 / 289

SELL IGL 274.50 SL 278 TGT 271.50 / 267 

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

Stock Specific news:
McNally Bharat Engineering gets Rs 210-cr order
Bharti Airtel to invest Rs 4,000 crore in Punjab in the next 5 years
Glenmark launches generic Hydrocortisone Butyrate cream in US
JSW Steel November production up 78%
UCO Bank transforming from a wholesale bank to a retail lender
Web special: ONGC can firm up to Rs 320 in near term
Silver down 0.4% on global cues
Bank stocks aid Sensex rally; ICICI Bank up 5%
Zinc down 0.2% on global cues, sluggish demand
Gold down 0.3% on weak global cues