Wednesday, April 30, 2014

30-4-2014 day strategy

29-04-2014:Tuesday-OVER-VIEW:
Metals, auto and banking lot got severe beating by bears. The PSU banks results are good and the prices are factored in. The Jindal steel brought all other counters to lows. The Phama counter though fell from highs, still in Bulls control. The M&M counter is the lone fighter against bears but all other counters fell due to demand slowdown in future.
 SUN Ranbaxy bad news..
29-04-2014: WEDNESDAY- MARKET APPROACH STRATEGY: The Bulls tightened their grip and Global indices are encouraging India to add few more points.
Niftyhas resistance at 6772-78 range, Bank Nifty at 13085.
ICICI resistance at 1285-89 range. SBI Resistance at 2093-97 but AXIS may see new highs good above 1544-48. The YES will run fast above 453-5 range.
F&O-COMPANY -NEWS: Huge selling in metals like Jindal and tatasteel is seen.
BULL COUNTERS:
F&O-COMPANY -NEWS:Unwinding in M&M and Axis seen, The PSU banks also in unwinding mode.

No comments: