"BUY NTPC ABOVE 161 TGT
170 SL 152"
"SELL L&T FINANCE BELOW 64.00 TGT 61.50 SL 66.00"
Indian market ended the day in red
ahead of the Vote On Account on Monday. The Sensex ended the
day at 27886, down 555 points. The broader 50-share Nifty closed session
below 8500; at 8448 , down 157 points.
while the NIFTY lost 83 points to close at 6001. Contraction in industrial
output for the third straight month and fears of another rate hike caused
selling pressure among investors.The Indian market is likely to make a
soft opening today tracking mixed global cues. The early indicator, SGX Nifty
was up 33 points at
6030 around 0800 hrs. The January wholesale
price index (WPI) data will also be released today and is expected to ease
to 5.5 percent month on month led by a decline in primary and fuel
inflation. However, US stocks closed higher on Thursday, with the Nasdaq
rising for a sixth straight day, as investors looked past disappointing data on
consumer spending, chalking the weakness up to weather instead of weaker
fundamentals. Sensex falls over
1,000 points in 4 sessions now good time to buy. The Sensex has plunged over 1200 points in four
trading sessions, including today's decline, on earnings growth concerns, while
weak cues across the region also dampened sentiment.The Sensex slipped as much
as 639 points in trade on Monday, to register its lowest close in three
weeks, dragged down by losses in technology, realty, FMCG and auto stocks. We are not worried
about the recent fall as we feel that the uptrend still remains intact, and
investors should use meaningful dips to accumulate quality stocks or create a
balanced portfolio to shield themselves against volatility.
RESISTANCE: 8798, 8958, 9018
SUPPORT: 8552, 8466, 8416
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