Markets opened up with a gap and momentum on the upside intensified as the day progressed which led the indices to close near days high. On the sectoral Realty, Bankex and Capital Goods led the rally. The advance decline ratio was in favour of Advance counters (Advances = 1466/ Declines=973).
Future Outlook: Momentum on the upside is likely to continue. In coming trading session if indices trade and close above 6165 levels then it is likely to test 6200 – 6250 levels. On the downside, 6105-6060 may act as support for the day.
NIfty Spot Levels for 16 may 2013
- Resistance for up move at > 6147/6179
- Supports at > 6105/6115/6105
Note : > buying is likely to emerge near the above mentioned support levels.
Dlf buy arnd 238-239 with 237.50 S//l for 252-253 trgts
Buy Dlf 250 call in range of 3.15 to 3.75 with 2.20 s/l trgts vl b 7-9
Nifty 6100 call 109 gud support Buy with 90 S/l
Technical Stock to Focus for short – midterm - (keep Stop loss for any trade)
Buy ONGC at current level or on a decline up to 329 (CMP 335.05) SL 318 Targets 345 – 350.
Buy Reliance Industries at current level or on a decline up to 807 (CMP 819) SL 795 Targets 836 – 856 – 870.
Buy IDFC at current level or on a decline up to 153 (CMP 158) SL 147 Targets 172 – 183 – 192.
