Market Outlook by Research Team, Elite Wealth Advisors Ltd.

Reseach Reports By Elite Wealth Advisors Ltd.

"WORLD MARKETS CONTINUE TO SOFTEN; IN NORMAL TIMES THE INDIAN MARKETS SHOULD HAVE FOLLOWED THE WORLD, BUT THE 2014 GENERAL ELECTION COULD CHANGE THE FACE OF THE COUNTRY FOR THE BETTER."

MARKETS GET NERVOUS, CONFUSED AS THEY WAIT FOR THE POSSIBILITY OF GAME CHANGING ELECTION RESULTS. NIFTY SUPPORT HOLDS AT 6650, INDEX REMAINS IN TRADING RANGE; VOLATILITY IS LIKELY TO INCREASE.

Bank Nifty remained choppy. Prices are now holding its short term support at 12800. We will get a buying opportunity when this choppiness gets over. Trend is up. Prices have a support first at 12800 and then at 12500.

CNX IT saw a down move today and closed near to its support at 9200. A close blow this support will give us a shorting opportunity in IT Stocks. We will get a buying opportunity if prices break above the resistance near 9400.

 FINANCIAL Sector is consolidating after a big upward rally. We will get a buying opportunity in Financial stock when this consolidation breaks on upside. As of now HDFC, PFC and RECLTD are the outperforming stocks in this sector. We should look only for a buying opportunity in these stocks.

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