Yesterday market opened positive and maintained the gains through out day as session was only for one and half hour. Nifty finally closed near day's high. For market to be bullish, need to maintain the lead of Saturday but also close above 4800 levels which is an important psychological level. Taking cues from the global markets, even today our markets may open positive. Market has support at 4700 levels, if Nifty breaks these levels, further selling pressure may be seen till 4650- 4600 levels. On upside if Nifty move above 4800 levels then we may see some buying interest in the market till 4850 levels. Short term trend for the market is negative till the time Nifty is below 4900 levels.
ESSAR OIL
Execution Price Range Stop Loss Target
Buy Between Rs 138 to 142 137 146
TATA POWER
Execution Price Range Stop Loss Target
Buy Between Rs 1290 to 1300 1280 1325
HERO HONDA
Execution Price Range Stop Loss Target
Sell Between Rs 1590 to 1600 1610 1575
