Tuesday, December 4, 2012
Share Market and Nifty Reports For Today:
Share Market Today:
Another important development will be the eye seeking of the market today. Reform on the agenda of the government does so, it will be decided today in Parliament. Maltibrand FDI in retail will debate on the issue in the Lok Sabha today. Debate under Rule 184 shall be followed by the provision of voting.
The Technical report cautions of choppiness creeping into the market the moment debate on foreign direct investment begins in the Parliament. It suggests going long on the index on sharp correction today.
Nifty For Today:
Nifty closed yesterday on a slight bearish note at 5870. So today the first resistance for nifty is at 5940 level. Next resistance range is at 5965 level. On downside first support is at 5820 level. Next supports is at 5780 level. The trend is clearly up, there is no confusion on that. After big rallies, the market will consolidate. The only problem in the market is that when we see this consolidation, we don’t know whether this consolidation will last for one day or five days or 10 days. But because we are sanguine on the direction of the eventual move, that should be up.
Stock Tips For Today:
BUY Reliance Communications Ltd. for Short Term Target of 78.65 with a Stop Loss of 67.65.
BUY Reliance Broadcast Network Ltd. for Med Term Target of 57.65 with a Stop Loss of 42.65.
BUY GMR Infrastructure Ltd. For Long term target of 36 with a Stop loss of 15.