A very good morning to all. It is a vastly more cheerful morning today. Market closed on a bull mode yesterday and today it starts with a up trend. In early trade nifty moved to 6072 level. Our research analyst suggest the market may relly to 6200 in 2-3 trading session. First came general anti-avoidance rules (GAAR) then the inflation numbers or the other way around, but both acted in favour of the market. We suddenly saw a very tired looking market in the morning spring back to life and close above 6,000.
The January series the Nifty may cross the crucial level of 6250 supported by the probable cut in rates by the RBI on January 29. Baliga advises investors to sell Infosys on the first signs of weakness in the stock. For today nifty is looking bullish. Having a support at 5960 it has a resistance to break at 6100 level. Buy is suggest on current series of nifty.
Stock of The Day:
Tata Consultancy Services (TCS) did not do much to hurt sentiment later in the evening. So, we are all okay this morning as we start trade with traders once again rubbing their hands at the prospect of the Nifty staying and getting further away from that 6,000 mark.
Positional Stock Tips:
We are bullish on HDIL and Unitech, as both these stocks look good, in terms of the fundamentals as well as the technical behaviour in the F&O space. As RBI is likely to cut rates larger PSU bank stocks like State Bank of India (SBI), Punjab national bank (PNB), Bank of Baroda, Canara Bank, Bank of India are moving up and may see a further upside.
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