Nifty continued its upward march and closed just at the breakout level. It closed 34 points up from its
previousday's closae. Sectorwise, Auto, Infrastructure and Index heavy weights are looking strong. Apart
from that, Advance-Declive Ratio is looking good. It shows the internal strength of the market. Infact, all
midcap indices are looking very strong. So Nifty is in the verge of breaking the 5200 level and the
probability is very high. On upside, Nifty will face very strong resistance around 5300-5400. For
TUESDAY, support exists at 5130 and then at 5103. On upside, resistance exists at 5210 and then at 5240.
Markets register big gains to end year at 18 month highs
Nifty breaks out from trading range
Targets for Index may be 5450 approximately
After moving inside a trading range for three months, the NSE50 finally closed at its 18 month highs -
5178.40, indicating that the Index is giving a breakout from the 4900 - 5150 trading range. Targets for the
up move are 5400 to 5500, giving a median target of 5450
Stock View
Scrip LTP View
EICHER MOT 618.50 Eicher Motor is trading in a range of 580-625. Traders can buy the stock on
dips with stop loss of 580 and target of 670.
HCL TECH 374.90 HCL Tech seems to be breaking out of 360 resistance level. Investors can
buy the stock on dips.
KSB PUMP 428.55 Traders can Buy KSB Pumps on dips with stop loss of 405 and target of 470.
M&M FIN 320.90 M&M Financial seems to be breaking out of trading range. Traders can Buy
the stock with the target of 335.
Tech Calls
Scrip LTP Buy Above/Sell Below S.L. Target
IBREALEST 218.65 Above 220 214 234 2-3 Days
EDUCOMP 725.75 Around 725 700 790 2-3 Days
NAGARCONST 165.85 Above 169 162 183 2-3 Days