Market Outlook
Yesterday our market opened gap down as taking cues from week global markets and S&P CNX Nifty finally closed below psychological 5000 levels. In view of mixed global markets, today our market may see flattish opening and move in a range bound manner. If S&P CNX Nifty falls below 4950 levels then further selling pressure may get intense in the market and we may test 4920-4900 levels. On upside if it sustains above 5000 levels then only further up move may be seen in the market towards 5040-5060 (which is a strong medium term resistance for the market) levels. We would advise to keep the position light and remain cautious in the market at higher levels as global markets are weighing heavy on domestic indices.
ADITYA BIRLA NUVO (ABIRLANUVO)
Execution Price Range Stop Loss Target
Buy Between Rs 737 to 747 731 768
PUNJAB NATIONAL BANK (PNB)
Execution Price Range Stop Loss Target
Buy Between Rs 995 to 1008 985 1035
CUMMIND IND
Execution Price Range Stop Loss Target
Buy Between Rs 560 to 570 554 586
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