Last Week: Indian Stock Market saw losing streak last weak. Through out the week it remained negative and Sensex lost 8.2% last week. The Interim Budget which was declared last week was not favorable for the market which pushed market down. All Global Financial market was also down.

Today: The Indian Stock Market still looks weak as US market closed @ 1997 level. But as F&O expiry is approaching, at every fall there will be short covering pullback. Also historically data shows that market had always rallied 10-15% before election called as pre-election rally.

BSE Sensex: (8843) The support for the Sensex is 8600 and the resistance to the up move is at 8900.

NSE Nifty: (2736) the support for the Nifty is at 2680 and the resistance to the up move is at 2800.

Today’s Pick:

Buy ICICI bank (CMP: 335.85) @ 315 with a intraday target of 319-322.

Buy Cairn India on delivery (CMP: 152) @ 149 with a one month target of 170-175.

Buy SBI bank on delivery (CMP: 1045) @ a strong support of 1030-996 with a one month target of 1100.