After a day of gains again Indian Market slip into red. Sensex closed at a new 2 year low of 15695.43(-163.06) and Nifty at 4710.05 (-46.40). Weak global cues lead to a gap down opening on last Friday morning and traded with negative bias whole day due to the sell off in the key stocks like RIL, Maruthi etc.
The Whole week was choppy and negative. Both index were closed around 4% loss during the week. BSE Small cap lost 2% and Bank Nifty 4.5%. All most all the sectoral indexes were in loss.
Fall of Indian Rupee against US Dollar is the main concern of the Market in coming week also. The high inflation in India and euro zone crises attributed to this fall. As our Finance Minister said we are a victim of Euro zone crises. Another reason of Indian Market fall is the frequent rate hike by the RBI to tackle inflation.
Actually the sell off in German Government bonds, a warning on France's triple-A rating and on the whole delay in solving the Euro zone issues placed the global as well as Indian markets in a danger zone.
Some Market experts expecting that inflation may eased out in coming months. This may lead to some improvement in the equity market.
Nifty watch 27.11.11
For coming week as well as for Monday the key level for Nifty is 4681.75 below this level market may go down up to 4657.85/4637.63/4617.40
Where as on the upper side Nifty may face stiff resistance at 4797. The immediate resistance for Nifty is 4723.75, above this level Nifty may face resistance at 4732.02/4756.74/4776.97
If Nifty may able to break 4797, next target is 4850.
Nifty Trading Tips 27.11.11
Buy Nifty at 4715.53 with SL 4681 TGT 4722/4731/4754/4776/4790
Sell Nifty at 4680.53 SL 4699.25 TGT 4658.50/4639.05/4619.40
Share/Fut Trading Tips 27.11.11
Buy SBIN at CMP (1660-1670) SL 1625 TGT 1697/1723/1750 (Fut/Cash)
Buy ITC at CMP (190-194) SL 183 TGT 201/212/225 (Fut/Cash)
Buy Tatamotors at CMP (169-172) SL 163 TGT 179/185/190 (Fut/Cash)
Buy Bank Nifty at CMP (8450-8485) SL 8291 TGT 8550/8600/8650 .... if long for 1 month TGT 9000
Sell Hindalco at CMP (112-114) SL 116.50 TGT 110/108.50/107 (Cash)
Sell Reliance at CMP (750-760) SL 775 TGT 737/725/715
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