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Indian Market
Indian equity markets were up 0.28% Nifty up by 16.50 pts and settle at 5983.55 Sensex up by 56.94 pts at 19731.27 Bank Nifty up by 132.90 pts at 12769.40
Global Market
European markets were down with FTSE down by 41.45 closed at 6655 ,CAC up by 1.81 closed at 3968 and DAX down 58.35 closed at 8269 Dow future was down by 27 closed at 15262.00
HEADLINES
Wockhardt tanks more; Co to take $100mn hit on import alert Jet Airways shareholders approve Etihad deal Hopeful of maintaining profit from tolling segment: PTC Glenmark slips 4% as co recalls 3 'odd odour' drugs from US
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MARKET ANALYSIS:
Key benchmark indices snapped four day losing streak today, 24 May 2013. The barometer index, the S&P BSE Sensex, was provisionally up 56.94 points or 0.29%, off close to 100 points from the day's high and up about 160 points from the day's low. Index heavyweight and cigarette major ITC edged lower. Another index heavyweight Reliance Industries (RIL) edged higher. The market breadth, indicating the overall health of the market, was positive. Auto stocks were mostly higher. Two wheeler markers dropped. I ndia's largest steel maker by sales, Tata Steel jumped after the company's consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 27.75% to Rs 4368 crore in Q4 March 2013 over Q4 March 2012. State Bank of India (SBI) extended Thursday's slump triggered by weak Q4 results. Shares of private banks edged higher. In a bout of initial volatility, key benchmark indices pared entire gains after opening higher tracking mostly firm Asian stocks. The CNX Nifty slipped below the psychological 6,000 mark after regaining that mark at the onset of the trading session. It weakened to hit fresh intraday low in morning trade. The barometer index, the S&P BSE Sensex and the 50-unit CNX Nifty, both, hit their lowest level in 2-1/2 weeks. It regained positive terrain in mid-morning trade. It regained strength in early afternoon trade. Key benchmark indices pared gains amid volatility in afternoon trade. It was slightly higher in mid-afternoon trade. It hovered in positive terrain in late trade.
STOCKS TO WATCH
FII DII
23-May-13 23-May-13
3783.2 1162.23
3466.97 1700.98
316.23 -538.75
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EXPERT OPINION
NIFTY
Nifty looks Bearish Strategy: Sell on rise Support: 5940 Resistance: 6020
BANK NIFTY
Bank Nifty looks Bearish Strategy: Sell on rise Support: 12700 Resistance: 12840 460
2.72
.0 PREVIOUS PERFORMANCE
TYPE SCRIP ANDHRA BANK IDFC TATA MOTORS ALLAHBAD BANK B/S RESULT
S B S S
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09752199966
MARKET CALLS
6
SCRIPS ANDHRA BANK IDFC ACTION SELL SELL LEVEL 86.00 153.00
CASH
1ST TARGET 85.50 152.00 2ND TARGET 85.00 151.00 STOP LOSS 86.50 154.00
FUTURE
SCRIPS . TATA MOTORS SELL 287.00 285.00 283.00 289.00 ACTION LEVEL 1
ST
TARGET
ND
TARGET
STOP LOSS
ALLAHBAD BANK
SELL
122.60
121.60
120.60
123.60
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