Daily Trading Tips..

•  Buy Tata Motors with target of Rs 660 and stop loss of Rs 599. The stock is currently trading at Rs 622, up 0.1% on the BSE.
• Buy Indian Hotels with intra-day target of Rs 96 and stop loss of Rs 87. The stock is currently trading at Rs 89.10, up 0.5% on the BSE. 
• Buy Motherson Sumi with target of Rs 125 and stop loss of Rs 113. The stock is currently trading at Rs 122.50, up 5.5% on the BSE.
• The market opens on a flat note with metals, banking and infrastructure stocks opening weak. Earlier, the US markets closed positive with the Dow rising for a sixth straight session and closing up around 44 odd points. Asian markets are looking quite subdued. Sensex is trading at 16866, up 16 points from its previous close, and Nifty is at 5007, up 4 points. CNX Midcap index is up 0.1% and BSE Smallcap index is up 0.1%. The market breadth is positive with advances at 370 against declines of 298 on the NSE. 
• Short-term traders buy RCom with target of Rs 175 and stop loss of Rs 168. The stock last traded at Rs 171.35, up 1.4% on the BSE. 
• Buy Balrampur Chini with target of Rs 153 and stop loss of Rs 142. The stock last traded at Rs 144.25, up 0.8% on the BSE
• The market may have a flat to positive opening today and through the day we could see a good rally.  Nifty will touch 5100 levels and I advises buying GMR Infra with intra-day target of Rs 76 and stop loss of Rs 67.
• Buy BHEL for gains of Rs 90-100 above Rs 2275.
• Sell IFCI with target of Rs 49 and stop loss of Rs 53. The stock last traded at Rs 52.30, up 2.1% on the BSE.
• Buy Eastern Silk with intra-day target of Rs 21 and stop loss of Rs 17. The stock last traded at Rs 17.53, up 18% on the BSE.

USD/INR DAILY

Rupee Daily

Dollar continued its downward journey as the pair touched crucial support level of Rs.46.35/USD after falling by nearly paisa from top. Dollar opened the day stronger and made a high of Rs.46.64/USD, but fell after dollar index breached crucial supports. Dollar index which has become the single most driver of asset classes across the globe, breached the crucial level of 74.93 and traded at 74.77 levels leading to rise in equities and
commodities. Indian Nifty rose by 122 points or 2.50% due to fall in dollar index. In domestic news the weekly auction of bonds indicates that interest rates may remain low for short term. The 91 day T‐bill was auctioned at yield of 3.2754% unchanged from previous week while 182‐ days T‐bills were auctioned at 3.8217% down from 3.9676% previously. Another key indicator, the vehicle sales figures of India was declared which rose by 2% in October from previous month. Today Industrial production data of India will be declared. Although IIP is expected to rise by 7% we do not feel any major impact on USDINR as it will continue to follow dollar index. Overall 46.15 will be a crucial support level for the pair in Intraday.

Yesterday Market Summary

Last trading day: Wednesday, 11 November

It was a fantastic, steady session for our market that ended at nearly the high point of the day. Nifty closed above its 20 and 50 DMA (above 5000 for the first time since October 21) at 5003, up 122 points from the previous close. Sensex shut shop at 16849, up 409 points. CNX Midcap index was up 2.15% and BSE Smallcap index up 1.60%. The market breadth was positive with advances at 911 against declines of 366 on the NSE. Top Nifty gainers included Sterlite Industries,Reliance Infrastructure and JP Associates while losers were BPCL and Idea Cellular. We see a Sensex target of 20000 in the next 9-12 months. Likely to see earnings upgrades for every single quarter from next quarter onwards