EQUITY MARKET DAILY REPORT 17 JULY-2013

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INDEX ANALYSIS

NIFTY (5963) SENSEX (19,887) Markets are now at consolidation level, now we can see selling below 6060 for the target of 5920, 5900. today we have seen one way direction, thought it was open in negative territory but ended in green. Descent gains were seen in pharma sector & banking sector.

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TOP PICKS OF THE DAY

CAIRN( 303): stock is under selling pressure, as remain below 308 sell for the target of 296, 293. HINDALCO (105) Selling opportunity below 108 for the target of 100, 98. IDFC (137): stock continuously in bullish move we can see 142, 145 level above 136 . BHARTI (320): Buy on dips will be the best strategy on the card, stock may touch 332, 335 in coming days.

INDEX (FUTURE)

NIFTY (5979) Buy on dips will be the best strategy, buy above 5900 for the target of 6000 6050. above 5950 we can see more bullish rally. BANKNIFTY (11,200): Buying opportunity from lower level above 11000 we can see 11500 11800 level. Buy only above 11000. remain below 11000 index may show 10600, 10200.

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OPTIONS STRETEGY

6000 & 6100 calls are more active we may see these level as a strong resistance level in coming days, once remain above 5800 nifty may touch 6000 level soon. L&T 950 put and sbin 1900 calls are showing increasing open interest so we may see some strong action in these stock. BHEL 195 call showing significant open interest, some strong action will be seen in stock in coming days.

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