EQUITY MARKET SNAPSHOT 1-11-2012

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• ·       after yesterday’s breakdown, index traded with sideways bias while sustaining above support zone of 5580 level as per fibonacci retracement placed on intraday chart. technically, WE MIGHT SEE ANOTHER SESSION OF RANGE BOUND MOVE BEFORE RESUMPTION OF DOWN trend.
  
  
  
  ·       STOCKS WITH BULLISH BIAS FOR THE NEXT TRADING SESSION
  BIOCON, CIPLA, DIVISLAB, JSWENERGY, MCLEODRUSS & RECLTD
  
  
  ·       STOCKS WITH BEARISH BIAS FOR THE NEXT TRADING SESSION
  NTPC, OFSS & ULTRACEMCO
  
  
  ·       ADVANCE/DECLINE NUMBERS (NSE)
  ADVANCE            – 823                    
  DECLINE               – 655    
  
  
  ·       SECTORS PERFORMANCE
  ON SECTORIAL FRONT, HEALTHCARE, AUTO, REALTY AND METAL PIVOT GAINED MORE THAN A PERCENT EACH WHILE MAJORITY CLOSED ON FLAT NOTE.
    
  ·       GLOBAL MARKET UPDATE (*at 5:00 pm IST)
  US MARKETS                     - POSITIVE
  EUROPEAN MARKETS    - MIXED
  ASIAN MARKETS               - POSITIVE
  
  
  ·       RECOMMENDATION OF THE DAY
  
  
  MCLEODRUSS LTP RS 302.60 BUY BETWEEN RS 294-297 STOPLOSS RS 290 TARGET RS 318 (SPOT LEVELS) FOR 5-8 TRADING SESSIONS
  
  
  ·       NIFTY INTRADAY LEVELS
  Sup – 5580-5540    Res –5640-5675

Posted in: EQUITY MARKET SNAPSHOT