Major trigger for the market is Q3 December 2013 corporate earnings. Investors and analysts will closely watch the management commentary that would accompany the results to see if there is any revision in their future earnings forecast of the company for the current year and/or the next year. The Q3 earnings season begins on Friday, 10 January 2014, the day when IT major Infosys and private sector bank IndusInd Bank unveil Q3 results.
Markit Economics will unveil the result of a monthly survey on the performance of India's services sector for December 2013 on Monday, 6 January 2014. The HSBC Services Purchasing Managers' Index (PMI), compiled by Markit, nudged up to 47.2 in November from 47.1 in October.
The government will unveil industrial production data for November 2013 on Friday, 10 January 2014. Industrial production declined 1.8% in October 2013, against 2% growth in September 2013. The decline in the output of manufacturing sector at 2% and mining sector at 3.5% mainly led to decline in industrial production in October 2013.
Daily Nifty View Spot Closed 6211.15, Sustaining Above 6240 We May C 6262-6288 On Upside And Below 6182 Sustaining Nifty We May C 6156--6135.
NOTE : AFTER 1ST TGT HIT KINDLY REVISED SL TO COST PRICE !
CALLS
BUY RCOM 131.50 SL 128.50 TGT 134 / 137.50.
BUY MCLEOD RUSSEL 321.50 SL 317 TGT 324.50 / 328.
BUY TITAN AROUND 225 WITH SL 221 TGT 229 / 234 / 240.
SELL COAL BELOW 276.50 SL 280 TGT 272 / 268.
SELL BHARAT FORGE 320 SL 325 TGT 316 / 312.
DISCLAIMER : THE AUTHOR IS NOT RESPONSIBLE FOR ANY LOSSES DURING ANY TRADE
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