BEEP-9-5-14

08-05-2014-Thursday-OVER-VIEW:

The positive cues of US, Europe and Asian markets support didn’t helped the markets as Higher level selling in ONGC, RIL,HDFC, HUL &ITC dented the rise. The markets witnessed stock specific action and saw higher level selling in the prime counters like Bharati and HDFC duo. Serious positions were built in HDFC Bank and we can expect news very soon. The IT sector may see some more Bear pressure. The mid cap bank results are their COFFINs as the counters are in selling spree, be it ALBK, Syndicate bank, Union Bank or Bank India. Cara Bank and Orient could manage their ground safe but lost the gains. The same is with Century and BIocon.

NSEL Scam and arrest of SHAH and follow-up action to arrest more brokers can spoil the party…be cautious..!!!! Markets might have sensed something special/fishy, RELCAP lost from 382 level to 335 days and 12 lakhs OI in a single day at 372-75 range….!!!

BAMMIDI ENTRY & EXIT POINTS in STOCK-MARKETS

The Nifty failed to trade above the low registered on Last FRIDAY at 6689, yesterday high is 6688 level. Now the big challenge is to move above the basic resistance and shall seek BULL support to clear the Resistance at 6704 and 6721 levels. The bank Nifty is in POSITIVE Zone as it could stay above 12980 level comfortably due to the top bank action in SBI, AXIS and ICICI but others are mixed. Incase RIL fails to trade above 961-63 level is a serious concern for BULLS.

The Adani counter may see some serious up-move due the positive news may take it above 442 level but caution is advised as the counter lost the steam. The ITC counter may see some high activity due to plans of Brand acquisition- B-Natural.

The Bharati counter is also getting reent less selling from 340 level. The days ahead are very good for the Telecos but now people has to wait AND WATCH FOR SOME TIME. The DAY-BOUNCE can be expected in IT and TELECOs

BAMMIDI ENTRY & EXIT POINTS in STOCKMARKETS:09-05-2014

Nifty Support at 6652-46 Resistance at 6681-86 Good above 6693

BankNifty Support at 12950 Resistance at 13075-83 Good above 13089-93

SBI Support at 2075-77 Resistance at 2108 Good above 2114

ICICI Bank Support at 1272-75 Resistance at 1293-96 Good above 1296

AXIS Bank Support at 1241-38 Resistance at 1259-63 Good above 1263

YesBank Support at 436-38 Resistance at 449-47 Good above 451

RelInfra Support at 507-04 Resistance 517-19 at Good above 523-25

Tatasteel Support at 398-400 Resistance 411-43 at Good above 416

JSWSteel Support 985 at Resistance 1110 at Good above 1118

ADANI Support 416-14 at Resistance 432-34 at Good above 438