BAMMIDI EMERGING ENTRY POINTS –
DAILY ENTRY & EXIT POINTS-BEEP-DEEP —30-10-14-Thursday
Yesterday Market Action Review: The markets are in BULLs grip as the BULL run
has not even halted. The earlier correction seems to be an internal correction
of a BULL run. The local developments may see a dampen BULLs hopes in future
course of action as many HNIs names are involved in the 627 BLACL MONEY cases
and SIT will EXPIDITE the process for the GOOD. My personal view is that huge
bets are made in NIFTY as per F&O data but the market has neither made a
sharp fall nor made a run up for new HIGHs.
The
yesterday announcement of US, didn't made any impact on the stock markets but definitely
will drag the markets down as anticipated by the analysts as the easy money
pumping in the system will dry up in future.
The
political will, economic developments and policy liberalization may hold the
bottom support to markets.
STOCKS
ACTION: Yesterday metals stocks made a serious come back from their lows,
registered 3-6% rise. The Construction sector got FDI liberalization gave a
positive jerk to realty stocks. The results of SRF kept the stock up by 20%.
The Jubilant Life suffered 12%, fall OBC fell 5% due to poor numbers.
DEEP ACTION for
30-10-2014-THURSDAY:
Today
the expiry will keep the markets choppy and the results of ICICI and YES in
Banking space, DrReddy will swing to their numbers. Technically, the Nifty has
good support at 8030, so long it stays above will add strength to Bulls. Bank
Nifty took some pause but it registered 1300+ points rise from last F&O
closing, whereas Nifty bare added 180+ points.
Today
Nifty may see a gap up opening as Asian markets are in GREEN but the resistance
at 8114-18 and 8135 needs to be decisively be crossed otherwise, it will add
pressure on BULL to keep above 8090 will become a burden. The Nifty range can
be 8145-8070, but deliveries are not advisable.
The
Reliance as suggested earlier took support at 926 bounced back to 953-56 range
will continue to cross resistance at 963-67, the bottom support at 946-44. The
ONGC most laggard after the GAS price rise may see up move once crossed the resistance
at 396 to 406 then to 411-414. The OMCs may also see some jump by 2 odd
percentage.
The
ICICI resistance at 614, above it will see it touch 1660-65 range, below 1589
will take it to 1518-16 range.
The
SBI resistance at 2658-63 range will bring it to 2606-08, Yes Resistance at
644-45, below 635 will take to 606-08, above resistance 690 is easy to touch.
The
metal pack will continue the journey. The Relinfra may touch 600+ lower support
at 573-71, Relcap resistance at 461 need to be crossed for decent up move.
The
PFC and REC will consolidate will see lower levels. BHEL has resistance at 259
may touch 246-48 range. The HUL may see short covering above 732 but advisable
to short above 738-42
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