Daily Trading Tips..

•  Buy Dabur with intra-day target of Rs 161 and stop loss of Rs 156. The stock last traded at Rs 157.85, up 3.1% on the BSE.
•  Buy ITC at Rs 259 with intra-day target of Rs 265 and stop loss of Rs 256. The stock last traded at Rs 258.25, up 3.9% on the BSE.
•  Buy Zee Entertainment with intra-day target of Rs 254 and stop loss of Rs 248. The stock last traded at Rs 249.10, up 2.9% on the BSE.
• Buy ICICI Bank at Rs 888 with intra-day target of Rs 920 and stop loss of Rs 874. The stock last traded at Rs 888.80, up 4.7% on the BSE. 
• Book profits at 4950 levels and keep a trailing stop loss.
• The Nifty may continue to move higher today. Support for it at 4830 and resistances at 4930 and 5050.

USD/INR DAILY

Forex Market

Dollar continued to fall for the 4th consecutive session banking on rise in equity markets and fall of Dollar index. Dollar opened the day gap down at 46.70 paisa and continued to trade in downtrend closing the day at 46.43 paisa, breaching the crucial support of 46.50. Dollar index weakened to 15 month low against major currencies after G20 finance officials pledged to maintain stimulus measures encouraging investors to buy high yielding assets. Dollar index fell from 75.61 to 75.04 yesterday with euro rising the most against the dollar.
The fall of dollar index also lead to buying in equity markets with Nifty closing the day 102 points up at 4898 levels. Yields on 10 year benchmark government bonds remained flat at 7.32%. Low credit growth in the country has lead to banks reducing interest rates on their home loans and other products showing ample liquidity in the system. Interest rates on term deposits have also been slashed by 0.25 ‐ 0.5% across various maturities.
We expect USDINR to continue its fall with 46.30 acting as a crucial support level.

Yesterday Market Summary

Last trading day: Monday, 9 November

 It was a good start to the week for our market. Positive global cues helped our market end a strong session today, Nifty closed above the 50 DMA (above 4888) led by good buying in banking, oil and gas, realty and metal stocks. Sensex shut shop at 16498, up 340 points and Nifty at 4898, up 102 points from the previous close. CNX Midcap index was up 2.03% and BSE Smallcap index was up 2.16%. The market breadth was positive with advances at 1020 against declines of 261 on the NSE. Top Nifty gainers included Axis Bank, SBI andICICI Bank while losers were Bharti Airtel, Reliance Communications and HUL. The market could be in a Nifty range of 4500-4950 in the near term. Nifty will see huge selling pressure/profit booking at 4925-4950 levels, he says. If Nifty trades above 4950 for a few days with good volumes then 5200 is possible.