07.01.2014

Nifty Weekly Range For The Week 06th Jan -- 10th Jan 6102 -- 6320, Either Side Sustaining Will Give More 60 Points More. High 6224.70, Low 6170.25, Closed 6191.45.

Key benchmark indices edged lower in choppy trade after Market Economics said business conditions in the Indian private sector economy continued to deteriorate in December 2013. The barometer index, the S&P BSE Sensex, was provisionally down 58.81 points or 0.28%, up 70.54 points from the day’s low and off 121.27 points from the day’s high. The market breadth, indicating the overall health of the market, was positive. In the foreign exchange market, the rupee edged lower against the dollar as the US Federal Reserve prepared to start cutting bond purchases amid data that signaled the recovery of the world’s biggest economy is picking up speed. NSE’s INDIA VIX, was up 3.96% level, at 16.50. Among st the Indices CNX SMALLCAP was up 0.77% closed at 3,435.20.

Stock Specific news:
BHEL completes power transmission sub-station at Raichur
NMDC Oct-Dec iron ore output at 7.3 million tonne, up 37% on yr
Ind-Swift gains 5% on board’s nod for preferential allotment to promoters
Nifty below 6200; Tata Power down 2%
Web exclusive: Traders could look for ratio spread strategy in Ranbaxy
JSW Steel hardens on taking control of Raigad Unit of Heidelberg Cement India
Nickel futures up on global cues, spot demand
Gold futures up on global cues
Silver futures down on global cues
MCX turns volatile after block deal.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1,477 shares gained and 1,036 shares fell. A total of 159 shares were unchanged. The total turnover on BSE amounted to Rs 2368 crore, higher than Rs 2189.96 crore on Friday, 3 January 2014. Among the 30 Sensex shares, 20 declined and the rest of them rose.

Daily Nifty View Spot Closed 6191.45, Sustaining Above 6224--6230 We May C 6248--6262 On Upside And Below 6160--6152 Sustaining Nifty We May C 6130--6105. 

STOCK TO WATCH ADANI ENT CMP 252 SL 242 TGT 270++ FOR 5-7 DAYS !!

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

CALLS

BUY JINDAL STEEL 259.50 SL 255.50 TGT 263.50 / 267.

BUY IOC 204.50 SL 200 TGT 207.50 / 212.

BUY PIDILITE IND 285.50 SL 281 TGT 288.50 / 292.

SELL OBC BELOW 211.50 SL 215 TGT 208.50 / 205. 

SELL BHEL BELOW 163.50 SL 165.50 TGT 161 / 158.

DISCLAIMER : THE AUTHOR IS NOT RESPONSIBLE FOR ANY LOSSES DURING ANY TRADE