Stock Nifty Trend 16 Sept 2013

market-rellyMarkets traded in highly volatile fashion in the previous session and settled on a flat note as they were unable to gain strength on account of better than expected IIP nos. Nifty future consequently facing resistance around 5900 and is consolidating in a range since last few sessions on daily charts. It needs to sustain above 5900 to continue in strong zone while 5770 is seen as major support for it in coming sessions.

SUPPORT      :  5830 & 5780
RESISTANCE:   5920 & 5960

Daily Market Trend –

  • Sensex ends 49 points lower; Wipro, Tata Steel, ITC drop.
  • European shares edge lower on Fed tightening expectations.
  • JSW Steel crude steel production jumps 29% in August.
  • NHPC shoots up 6.5%, cabinet note on share buyback soon.
  • Biocon inks distribution agreement with CytoSorbent.

Intraday Stock Tips –
M&M EQ BUY ABOVE 835 TARGETS 843.40/851.80/860 SL 826.60
TATAGLOBAL EQ  BUY ABOVE 153.20 TARGETS 154.70/156.30/158 SL 151.80

Future Stock Tips –
CAIRN FUT SELL BELOW 319.50 TARGETS 317.50/315.50/313.50 SL 321.50
SUNPHARMA FUT BUY ABOVE 569 TARGETS 573/577/581 SL 565 Call – 8878998007


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