Intraday calls

[n_arvind2000]

02nd Feb. 2015 Analysis:

Indian Stock Market to open gap negative with 35-60 points for Nifty. Technically, Market including Nifty and BankNifty has entered into negative trend.

Some short covering can be seen but overall market trend is negative and Traders should trade short at every bounce until Nifty breaches 9000 levels on positive zone.

FIIs were net sellers of Rs.771.55 crores whereas DIIs were net sellers of Rs.37.6 crores on Friday.

Nifty would see strong support at 8775-8725-8680 levels whereas strong resistance would be seen at 8867-8930-9000 levels.

Important Results to be Disclosed today: BHARATFORG,CUMMINSIND, GICHSGFIN, INDIANB, REDINGTON, STAR, UNIPHOS, UPL.

NSE Nifty: (8809) The support for the Nifty is at 8775-8725-8680 and the resistance to the up move is at 8867-8930-9000 levels.

NSE BankNifty: (20529) The support for the BankNifty is at 19450-19295-19108 and the resistance to the up move is at 19964-20170-20609 levels.

BSE Sensex: (29183) The support for the Sensex is at 29000-28890-28780 and the resistance to the up move is at 29410-29620-29840 levels.

 

[n_arvind2000]

Lupin has got USFDA’s approvals to launch Vancomycin Hydrochloride in US market. The
drug is used to treat a number of bacterial infections and it generates close to US$300mn in US market.

Action to be taken: Long Lupin
Stop loss : 1554 Target : 1632 - 1664

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No member can post trading calls, give buy/sell recommendations, post price targets or any such opinion related to the price movement of any security or an IPO listed or to be listed in any of the exchanges in India.