Last Week: Despite dismal GDP data our market recovered sharply and closed on a good support. Market is now showing some strength.
Today: Today it is interesting to show hove RIL share moves in the market most of analyst believe that RIL would be most beneficiary from this and it would surge when it opens on Monday but our team firmly believe that it is not the time to do trading activity in any of the reliance shares specially RPL. If you are investor than it is the good time to buy RIL else it is advisable to stay away even if it climbs today. Market movement will lot depend on RBI rate cut and global financial markets. But still we would like to stick on our point that any up move would be welcomed with a Shorting
BSE Sensex: (8891) The support for the Sensex is 8700 and the resistance to the up move is at 9000.
NSE Nifty: (2763) the support for the Nifty is at 2720 and the resistance to the up move is at 2800.
– Buy SBI around 996 with an intraday target of 1020-1035 with a tight stop loss of 990.
– Buy HDFC around 1260-1254 with an intraday target of 1280-1300
Profit booked through our yesterday picks:
– Yesterday target for L&T is completely achieved with a profit of 10rs per share.
– Cairn India just reached our first target of 170rs.