Indian market took a positive start on Monday but responded negatively to the RBI credit policy and faced a steep fall from higher levels. Oil-marketing companies stocks traded strong. Sensex closed at 18969, down 181 points from its previous close, and Nifty shut shop at 5687, down 55 points. The CNX Mid-cap index was down 0.5% and the BSE Small-cap index was down 0.3%. The market breadth was negative with advances at 456 against declines of 844 on the NSE. The top Nifty gainers were BPCL, GAIL, Siemens and Ambuja cements and prime losers included HUL, ICICI Bank, Dr Reddy's and HDFC Bank.
FOR TODAY: US markets and European markets closed in green yesterday. Asian markets are trading in green today. SGX Nifty is trading at 5710, 29 points up now at 8.30 a.m. All these global cues indicating nifty will open around 5704-5717 which is also very crucial.
Sell ICICI Bank futures below Rs 1,030 for target of Rs 1,015-1,005 and stop loss of above Rs 1,045.10
Buy Maruti Suzuki futures above 1,297 for target of 1,310-1,330 and stop loss of below Rs 1,285
Sell Aurobindo Pharma futures below Rs 1,250 for target of Rs 1,234-1,220 and stop loss of above Rs 1,266
Sell Nifty Futures around 5,707-5,717 for target of 5,675-5,656 and stop loss of above Rs 5,730
Sell Bank Nifty Futures around 10,980-10,999 for target of 10,900-10,820 and stop loss of above Rs 11,044.
I will post if I trade any nifty future and/or options. Watch RIL 1020CA, JPAsso 100CA, Unitech, Suzlon, HUL, ONGC - all for February series.
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