Stock Nifty Trend 11 Sept 2013

market-rellyMarkets hit upon their crucial marks with one sided buying sentiments prevailing from the start of the session due to appreciation in rupee and strong exports data. Nifty future opened above the 100 day EMA and was able to maintain on higher side for the whole session. The downward channel pattern on daily charts give us the target of 6000 which may act as stiff resistance in intraday session while any correction will find support in the range of 5850-5800.

TREND: SIDEWAYS

SUPPORT      :  5850 & 5790
RESISTANCE:   5950 & 6000

Daily Nifty Trend –

  • Sensex rallies 706 points as Syria concerns ease, trade deficit narrows.
  • Tata Motors’ share price rally lifts market value by Rs 82 bn.
  • Auto sales climb 8.2% in August.
  • ONGC, Oil India unlikely to buy Petronas’ stake in Venezuela project.

Intraday Stock Calls-

LICHSGFIN EQ BUY ABOVE 186.50 TARGETS 188.40/190.30/201.30 SL 184.60
SUNTV EQ BUY ABOVE 407.50 TARGETS 411.50/415.50/419.50 SL 403.50

Future Stock Calls-

NTPC FUT BUY ABOVE 140.50 TARGETS 141.50/142.50/143.50 SL 139.50
RELCAP FUT BUY ABOVE 350 TARGETS 352/354/356 SL 348

 http://www.trifidresearch.com  Call – 8878998007

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