DAILY NIFTY OUTLOOK(9-02-12)
With mildly negative global cues & SGX nifty pointing for the negative opening, we see flat to negative opening.In fact our market is in the runaway mode but the many front line stock results & global events are applying break on it.However this is resulting correction which is shallow,momentary & time dominated than price.In short nifty is writing on wall whatever may come & happen, it is meant to move up only.For the day we see 5320-5400 as the trading range, breach below 5320 will head for 5260-5280(low probability)& cross above 5400 will lead to 5480-5500(high probability).
We recommend a buy on JSWENERGY at 58.50 with the stop of 57.00 for the target of 64.00 in 5 working days.
We recommend a BUY on RCOM around 92 with the stop of 89 for the target of 100 & above in next 5 days.
Bank nifty has been mercurial & high beta index compared to nifty as usual. For the day we see 10175-10450 as trading range with 10700-10800 as resistance & 9900-10000 as support.
We recommend a buy on JSWENERGY at 58.50 with the stop of 57.00 for the target of 64.00 in 5 working days.
We recommend a BUY on RCOM around 92 with the stop of 89 for the target of 100 & above in next 5 days.
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