SHORT / MIDDLE TERM FRESH POSITIONS SHOULD BE AVOIDED TOMORROW.
Nifty increased 36 points and closed at 5361.65. Market couldn't get stability today just as we predicted after the trading session of last Friday .
'US employment data' was better than expected and since, market could open in a better position. Besides, 'dismissal of Dr. Subramanian Swamy's plea against Home Minister , Mr. P. Chidambaram' helped nifty for a good initial status. India Cements declared a very good third quarter net profit at 56.3 Cr. which is doubled from previous quarter net profit. It fueled the upward rally in Cement Stocks.
But, concerns about Euro Zone financial crisis prevented the the market from further gain after opening. Pharmacy companies showed weak trend . SUNPHARMA & DR.REDDY included in NSE top 5 losers' chart.
Our intraday tip was to sell nifty futures below 5373. It touched first target ( 5352 ) within 40 minutes and showed low at 5332.60 . The low rate was very close to our second target of 5328.
GOOD LUCK....
No comments:
Post a Comment