Stock Market News 08 August 2013

Markets remained under pressure and took support of key psychological levels and finally ended the volatile session at lower levels. Nifty future found support of key level of 5500 and corrected on intraday basis and tested 5600 mark but closed on a flat note. If the index continues to trade in the bear zone then it will find support around 5480-5450. While correction can occur only if it maintains above the level of 5600.

TREND: SIDEWAYS

SUPPORT :  5510 & 5460

RESISTANCE : 5610 & 5660

Daily Markets Trend

  • Sensex, Nifty end weak; Tata Power, Tata Steel, SBI up 4-8%.
  • Nikkei suffers biggest one-day fall in 8 weeks on strong yen.
  • Tata Motors Q1 net down 23% at Rs 1726cr; JLR profit up 29%.
  • NMDC profit falls less than expectations in Q1.
  • Apollo Tyres consolidated Q1 profit rises 19.5%.

Stock Intraday Calls

JINDALSTEEL EQ BUY ABOVE 208 TARGETS 210/212/214 SL 205.90

ZEEL EQ SELL BELOW 233.75 TARGETS 230.50/228/225.80 SL 237.10

Future Calls-

CAIRN FUT SELL BELOW 289.30 TARGETS 287.30/285.30/283.30 SL 291.40

BIOCON FUT SELL BELOW 313.50 TARGETS 311.50/309.50/307.50 SL 315.60

 

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