The
US Debt DEAL didn't enthuse the markets; on the other hand they are now put to
DILEMMA till FEB-14. The Indian markets took the cue a bit early and made
carnage on the street on IT pack.The other NIFTY stocks could inch up like Bharati and Bajaj Auto on news....
The
Supreme Court remarks on RADIA tapes and further investigation may spoil the
TELECOM party. The The AXIS bank results are good as the retail business improved and the profitability was maintained. AXIS has resistance at 1120 level but has potential to touch
1270 and the scrip is moving up the support at 1050 shall not be broken on any bad day. The ICICI is also trading above 930 support
level may cross 1080 soon. The only catch is that the markets are waiting for
some news to breakout the resistance levels. The COAL SCAM is again on
headlines. So the Nifty needed some triggers from the Govt/RBI. The month end
policy may bring cheers to Banking sector as the built up is creeping. The OI
in Bank of India is building may see some news.
The
Nifty OI is increasing but the SWITCH made the NIFTY to hang around 6080-6120
level. The Tata steel OI is hugely built at 279-282 level was maintained and
the shorts made in TCS at 2230 level were covered. The long positions built in
TECH Mahindra were intact. But the real built up was made in WIPRO. The scrip
will easily cross 625-650 level in next two months.
The LT results are expected to be mute due to "Liquidy crunch" and the
foreign operations may save due to fall in the rupee value. The big opportunity
is about to open in DEFENCE sector is a readymade cake for LT.
The BULL
unwinding in HCL Tech, TCS and Rel Infra brought to their lows. The TCS may see
bounce from 2030 level and very good pick from 1760 level. The CAIRN is about
to make some noise. The scrip may shoot up if it trades above 329 levels. The
HDFC may cross 860 if it trades above 818-20 level. The KOTAK will get support
at 650-30 level.
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