Markets broke the seven day losing streak and moved towards higher levels but rupee depreciation negated the sentiments in later half and finally settled on a buoyant note in the previous session. Nifty future on daily charts showed up move after exhibiting lower lows. But, closing is not so satisfactory indicating strong support zone still lying between 6050-6000. Fresh longs can be expected if it sustains above the strict resistance of 6150 and next resistance is seen at 6190.
SUPPORT : 6040 & 5990
RESISTANCE: 6140 & 6190
DAILY MARKET TREND
- Sensex ends up 205 points; Auto, Bankex jump.
- October WPI inflation at 7%, stands at 8-month high.
- Tata Power Q2 net profit at Rs 75 cr, forex loss widens.
- HDIL Q2 profit plunges 69.6%.
- IRB Infra Q2 profit falls 11.7% to Rs 1.07 billion.
- · Strides Arcolab Q3 profit tumbles 92.6%.
NTPC EQ BUY ABOVE 155.50 TARGETS 157/158.50/160.10 SL 153.90
PFC EQ BUY ABOVE 150.50 TARGETS 152/153.50/155 SL 149
FUTURE EQUITY CALLS
AMBUJACEM FUT BUY ABOVE 178.50 TARGETS 179.50/180.50/181.50 SL 177.50
LUPIN FUT SELL BELOW 870 TARGETS 878/886/894 SL 862
Source: trifid research