A Tool That will be Helpful in Share Market Trading - Market Outlook (April 30, 2014)

NIFTY MAY BE REACHING A LOW RISK BUY ZONE. A SIDEWAYS CORRECTION SUGGESTS STRENGTH IN THE MARKET. OPTION VOLATILITY FALLS; MARKETS MAY BE GETTING READY FOR AN EASY TO UNDERSTAND ELECTION OUTCOME.

 

A BULL MARKET STARTS SOFTLY AND SLOWLY. THIS MAY BE WHAT IS GOING ON IN INDIAN MARKETS.

·         Bank Nifty remained inside its narrow trading range. Prices are developing this range inside 12900-13150. If this range breaks on downside then we may see a correction in Bank Nifty. Prices have very strong support 12500-12800 zones. A breakout on upside from this narrow trading range will give us buying opportunity.

·         CNX IT remained inside its narrow trading range inside 9250-9400. If this range breaks on downside then prices have very strong support 9100-9200 zones. A breakout on upside from this narrow trading range will give us buying opportunity in IT Stocks.

·         AUTO sector is in a process of correction. Prices have rallied and then started trading choppy. After that prices started a down move. M&M, MARUTI, APOLLO TYRE and TATA MOTORS are the outperformer in this sector. Look for buying only in these stocks in Auto Sector. 

  

Scrip	CMP	View
ACC	1299.30	Buy ACC above 1310 with stop loss below 1270 and possible target of 1370.
EXIDE	127.05	Buy EXIDE above 128 with stop loss below 125 and possible target of 133.
Just Dial	1218	Sell JUSTDIAL below 1204 with stop loss above 1232 and possible target of 1162.
Siemens	714	Sell SIEMENS below 711 with stop loss above 725 and possible target of 690.

   

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