Intraday Rocking Calls For (01-Sept)

Intraday Stock Tips For Wednesday(01st, Sept'10)

SKS Microfinance Ltd.(Target Hit)

Recommendation : Buy above 1230

CMP : 1,221.81    

Target : 1260-1290

Stoploss : 1202

Jindal Poly Films Ltd. (Rocked)

Recommendation : Buy on dips

CMP : 876.15

Target : 896-940

Stoploss : 855

Mahindra & Mahindra Ltd.(Target Hit)

Recommendation : Buy @ 623-626

CMP : 626.40

Target : 632-640

Stoploss : 618

Andhra Pradesh Paper Mills Ltd.(Target Hit)

Recommendation : Buy above @ 200

CMP : 204.40

Target : 213-230

Stoploss : 196

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Market May Face Some More Consolidation and Rangebound Movement

Looking at the daily reports and Charts Nifty has tested the support of 5,400 and 5,380 but owing to good recovery in the final moments it closed above the 5,400 level, which is a positive indication for our market. For the day, Nifty has registered its PCR level at 1.10 against 1.13 as of last trading session. Because of selling in indices heavyweights, Nifty failed to cross the 9 & 14 day`s SMA placed at 5,476 & 5,462 but managed to close above 50 and 100 day`s SMA placed at 5,395 and 5,267; these levels may act as new supports, in coming sessions. For the market tomorrow it is expected that some more consolidation and ranged movement in coming days.

Ref: Nifty Daily Reports

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Views On Market For Tomorrow (31-Aug)

It was a choppy opening for the Indian market which traded most of the part in negative bias but gave a closing in the green and managed to close above 5400. For tomorrow it is expected that market may continue with the consolidation phase. The GDP data for Q2FY11 due to be announced tomorrow can be an important event for the market. The undertone below 5,500 continues to remain bearish. A breach below 5,400 level will trigger further selling pressure and Nifty could slip towards the next support of 5,340 level while a breakout above 5,450 level could push it towards 5,500 level. A breakout above 5,550 will only negate the earlier bearish view.

On an intraday basis, Nifty spot should find support near 5,380 & 5,345 level while the resistance will be at 5,459 & 5,503 level.
BSE Sensex should find the support level at 17880-17795 and resistance at 18160-18228.

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Intraday Trading Calls For Monday (23-Aug)

Intraday Stock Tips For Monday(23rd, Aug'10)

Bajaj Auto Ltd
Recommendation : Buy @ 2788
CMP : 2,794.65    
Target : 2805-2820
Stoploss : 2780

BF Utilities Ltd.
Recommendation : Buy on dips
CMP : 1,086.35
Target : 1114-1143
Stoploss : 1430

Natco Pharma Ltd.
Recommendation : Buy
CMP : 221.75 
Target : 230-242
Stoploss : 218

OnMobile Global Ltd.
Recommendation : Buy @ 337
CMP : 339.80
Target : 345-354
Stoploss : 334.50

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Views On Market For Monday (23-Aug)

Looking at the nifty charts and daily reports a technical breakout above 5,550 will push Nifty future towards 5,580 - 85 level while a breach below 5,500 level will drag Nifty Future further down to 5,460 & 5,400 level. Market is trading at 52 weeks high; close to major resistance zone suggest cautiousness in near term. On an intraday basis, Nifty should find support near 5,496 & 5,480 level while the resistance will be at 5,562 & 5,579 level. BSE Sensex should find the crucial support at 18276-18210 and resistance at 18510-18633.

The expiry of derivative contracts is due next week which could induce volatility in the market. but we expect the trend to remain positive and rise over the coming weeks.

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