BAMMIDI EMERGING ENTRY POINTS – DAILY ENTRY &EXIT POINTS-BEEP-DEEP
—16-10-14
15-10-2014-Wednesday-OVER-VIEW:
EARLIER GLOBAL WEAK DATA HAS MADE HUDLES IN THE PACE OF GROWTH IN INDIAN
MARKETS BUT NOT CREATING BLOODSHED IN THE MARKETS AS THE US- MARKETS WIPED OUT
THE GAIN MADE DURING THE YEAR-2014.
NOW NIFTY HAS TO PROTECT THE 7640 LEVEL DURING THIS WEEK, AND THE
TOP RESISTANCE AT 7920 IS TO BE CROSSED DECISIVELY FOR THE NIFTY TO COURSE FOR
A DECENT UP MOVE. AS OF NOW THE LOWER LEVEL CONSOLIDATION IS CRUCIAL.
THE NIFTY FOR THE DAY RESISTANCE AT 7872, AS THE MARKETS ARE OPENING
IN RED COULD SEE OPENING BELOW 7854 AND MAY FIND SUPPORT AT 7740. THIS LOWER
LEVEL WILL BE PROTECTED BUT 7680, 7640 ARE ON THE CARDS….
BANK NIFTY HAS MADE SOME DECENT COME BACK FROM 15150 LEVEL, SO THE
BANKS ARE BEST TO BUY AT LOWER LEVELS…today may find support at 15460-420 range
16-10-2014-Thursday-POSSIBLE-SCENARIO:
BEAR COUNTERS: As the day likely to stay
in red, the IT counters, RIL & ONGC, may correct, OMCs may see some more
correction,
Bajaj auto may negatively and MindTree may positively
react to results
BHEL, APOLLO TYRES and the reality pack may see
some downward action, apart from banking names, the PSUs are in Bull grip may see
some un-winding.
BULL COUNTERS: The markets gave good support to PFC,
REC, some PSU banks like SBI, PNB ALBK…buying and short covering may stay in
range bound
The pharma names like DrReddy, SUN, Auro,
Lupin and Cipla can be acquired in two stages after 2-3% fall.
DEEP-MARKET
ACTION
Reliance,
buying can be made at 944-936 may touch 926-28 range but buy on declines. The
ONGC resistance at 406 may touch 393 level.
The
SBI resistance at 2541-46 may touch 2493-86 range,
THE ICICIBANK MAY TOUCH
1446-42 RANGE; THE SHORT-TERM LOW @ 1418-20, may be protected.
The TataSteel
may touch 446-42 RANGE; THE SHORT-TERM LOW @ 438, may be
protected.
THE AXIS-BANK MAY TOUCH
388-86 RANGE; THE SHORT-TERM LOW @ 476 may be protected.
NEWS
IMPACT:
GLOBAL
INDICES NEWS:The markets are down especial DAX, now spreading negative winds to
US and Asian markets which are relatively strong are weakening
ECONOMIC--NEWS:The
markets OIL
marketing companies are reducing the prices, they are making profits on both
petrol and diesel.
ECONOMIC--NEWS:The
markets are reeling
under pressure due to poor economic data and the spread of EBOLA in US.
COMPANY
SPECIFIC-NEWS: The Tatasteel is selling the long products business in Europe is a good
news. So the fall may not be more than 2-3 percent, will find support at 443-45
range. A good buy in the lower levels…
Tata Motors got buses order about 968, may be
positive but support at 464 needs to be tested, below 458 to 446 is a very good
buy.
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