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DATE: |
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CASH - INTRA |
FUTURE - INTRA |
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TITAN Buy abv
1820 Sl 1800 Tgt 1840-1860 |
ICICIBANK Buy abv
920 Sl 910 Tgt 930-940 |
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Nifty (Spot) Support
for the day exists at 5080-5040 and Resistance to the up-move is at around
5140-5180. Sideway move in lack of any major domestic trigger. Next trigger
for market is IIP Nos likely to be release on
Friday. Till than global cues eyed. Traders have turned
cautious after the sharp rally. There is likely to be a correction and
indices may consolidate before the next up-move. We expect that the index
would witness profit booking in short term and this could target 5020 on the
downside. |
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Once again lack of
triggers hint towards another sluggish session with a reasonable possibility
of a short term correction in the indices. Bond yields firmed up and settled
above the 8% mark which can have additional negative sentiment on the market
overall and PSU banking stocks in specific. The uptrend in the Nifty has
entered crucial levels where the resistance levels of 5120-5180 are playing
on. Short term chart remain overbought and warrant a corrective price action
or some sideways consolidation. Break below 5080 would lead to retest of 50
SDMA support of 5020 on the other hand 5120-5180 would be difficult to
surmount in a hurry. Range traders may use this opportunity to take some short
term positions with narrow stops to play the range. Overall outlook on the
Nifty remains bullish for the medium term. |
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It was an extremely
dull and lacklustre session for Indian markets. The
indices mirrored their global peers and traded in an extremely narrow range.
The Nifty ended the day at 5,101, down 22 points. The Sensex shut shop at 17,052, down 50 points. The broader
markets had a weak session too. The breadth was very weak at 2:5. The trading
session today saw very thin volumes. Total turnover for the day was around Rs 70,000 crore, which was a
good 25% lower than even the low average of the last few sessions. Bank of
Rajasthan was one of the biggest
losers today after it came
under the Securities and Exchange Board of India's scanner. Tatamotors was under pressure after a big block deal got executed. Some of the infrastructure names like
JP Associate and Suzlon didn’t have good sessions
at all. A couple of auto stocks like Hero Honda, just about drifted a bit and
a couple of those metal names like Hindalco and
SAIL were also a bit subdued. IT held out pretty well in an otherwise
sideways session and a couple of those private sector financials like HDFC
and HDFC Bank otherwise a completely unremarkable performance for the Nifty stocks. |
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Simply Reply DISCONTINUE at |
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DATE |
PACKAGE |
NET PROFIT FOR THE DAY |
DETAILED RESULT |
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WEEKLY 02-03 To 05-03 |
Cash – Intra |
(+) 38,900=00 |
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Future - Intra |
(+) 58,479=00 |
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