Thursday, August 12, 2010

INTRADAY STOCK MARKET [12TH AUGUST]

INTRADAY MARKET VIEW FOR SHORT SELLING STOCKS IN NSE BSE MARKET FOR TODAY'S TRADING

Today market opened with the negative side. Nifty slipped below level 5400. In the first half market remain negative and in the second half some recovery can be seen. Commodity, technology, realty and select financial companies' shares were under pressure due to the week global cues. Midacap and smallcap index are traded in negative and most of the stocks under midcap & smallcap are traded down. Down traded market is facing short term pressure. Today support for nifty be 5300 and and resistance at 5440. It is recommend to trader to maintain the stop losses strictly while trading and use dips into stocks.

INTRADAY STOCK TIPS FOR TODAY

Buy Kanoria Chemicals & Industries Ltd. above 36.45 stop loss 33.50 target 41

Buy Orient Paper & Industries Ltd. above 56 stop loss 54 target 59

Sell Maruti Suzuki India Ltd. below 1209 stop loss Rs 1215 target 1199

Sell DLF Ltd. below 315 stop loss Rs 320 target 308

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PR Activities

CapitalVia Global Research Head of Research Vivek Gupta said: "The good thing to cheer for the investors is that now they own a stake in the company which is much more clean in all the aspects and is amongst the top-five IT companies." Via moneycontrol.com Commenting on the outlook, the broking firm CapitalVia Global Research said, "Next week, if gold sustains above the level of 26,430 then by breaking the level of 26,890, it may touch the level of 27,250. But if it fails to sustain above 26,430 then may touch the level of then it may test the level of 25,311/25,200. For silver 42,800 may act as good resistance. For the next week, traders can sell on higher level strategy, if MCX Silver September futures sustains below 41,080 then it could test the levels of 40,340/ 39,900." Via myiris.com Vivek Gupta, head of research, CapitalVia Global Research said, "Technically, Nifty is likely to consolidate in the upcoming session and remain bullishly poised. Major resistance for upside is 6,080 with the crossing of which 6,150 can be touched. For downside, major support is at the level of 5,850 and 5,750."