Dear readers,
Indian Markets today ended in red, a lackluster day for Nifty and Sensex which was trading lifeless with dry volumes on account of week global cues and holiday in US and other major Asian markets. It was a wonderful day for our members though, we posted an excellent performance in our Pre-market and live market calls. Which did not bother what direction the markets where going into. Overall market breadth was negative and most of the stocks corrected deeply, Bharti Airtel was the main cause for the Index to be dragged into deep red. As market could not digest the recent development in Bharti Airtel's camp on acquisition of Zain's African assets which not only over valued but a non-profitable deal from leading analysts point of view as the Business unit of Zain in Africa has not been in best businesses. SenSex (prov): 16,038 down 114 points, Nifty (prov): 4802 down 25 points. Nifty (fut): 4795 down 33 points Our Recommendations for today: - Jaicorp. ltd: from 269 to 272.8,
- Ponnierode from 146 to 149.8 ,
- STC India from 532 to 540,
- Mcleod russell from 240 to 243,
- Graphite from 85 to 86,
- Vesuvius from 215.5 to 218,
- Delton cables from 110 to 119 made a high of 122.
Our Nifty call did well from 4805 it touch 4825. And ABG ship and SIL investments did not perform well Stock watch on Tuesday: Delton cables and Jain Irrigation, TWL. Stocks for Tuesday Buy Delton cables above 119 for targets of 122 to 128 SL 116. Nifty for Wednesday
Nifty does look week and recent built up in 4700 put open interest has been huge, which does indicates a sign of weakness in coming days. It would be interesting how world markets pan out tomorrow. Support: 4730 to 4670 Resistance 4850 to 4925
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