TODAY'S RECOMMENDATION

MARKET WILL OPEN WEAK AND WE CAN TEST 4467----4450 , UP SIDE 4505----20 WILL BE RES, BUT WE CAN SEE BUYING AT LOWER LEVELS, SENSEX CAN TEST 15430-------360, UPSIDE WE CAN TEST 15570-----620, STOCKS TO WATCH: IVRCL, ICICI BANK, RPL BUT LETS CLEAR THE SIGNAL FROM MARKET
NIFTY ::::: Support 4475-4450 Resistance 4521-4551
DAY TRADING ADVICES IN CASH NEYVELI (CLOSE AT 99) ---- Buy with stop loss of 96 for the target of 106 and above.
BUY GDL ABOVE 136.50, SL 133, TGT 144
BUY RENUKA SUGAR ABOVE 554.4, SL 540, TGT 580
BUY KEI INDUSTRY ABOVE 88.40, SL 85, TGT 96
REDINGTON (CLOSE AT 310) ---- Buy with stop loss of 305 for the target of 322 and above. INDIABULL (CLOSE AT 568) ---- Buy with stop loss of 562 for the target of 580 and above.
CAUTION IN BUYING IN NEGATIVE TREND
News:
Indian Hotels has acquired a 10% stake in Orient Express hotels trains and cruises for about $211million.
Aban has bagged 3 contracts form ONGC valued at approximately Rs.2000 cr.
Markets continue to trade in a range moving between 15800 – 15400 mark. The indices have been moving between this range since the past 5-6 trading range with selective stocks making their way to the north. Mid-caps and small-caps have particularly been the focus of everyone’s attention with sensex biggies taking a backseat for the moment. Fed announcement’s on the interest rates scheduled for today later in the night would be highly awaited{ Markets do not expect more than 0.25 bps reduction}. The levels of 15700-15750 remain a tough resistance. Expect a fresh move only if the indices cross these levels which could then translate to new all time highs. Support exists at 15400 mark.
Sugar stocks lookk technically attractive. Renuka Sugars could move upto 575-580 {support at 540 }& Bajaj Hindustan could move upto 155-156 mark.{support at 141-142}