Nifty Closed on a 6074.80 with flat note, Market is in balanced condition. Buying activities were dull today. Gains in Auto, Realty, Finance, FMCG and IT sector offset by loss in Infra, Energy, Pharma and Metal sector. Market breadth was positive taking cues from upcoming RBI’s policy meet tomorrow and Global Market.
The Index Touch high at 6088.40and low of 6061.40 today. Tomorrow the resistance for Nifty will be at 6086.30-6093 level on downside support will be at 6062.30- 6061.00. Trading activity expected to be dull tomorrow stocks on index may be coming down I will recommend hold position for tomorrow.
Oil and gas stocks may see good and increased tomorrow due to gas price hike. Banking stocks may lead after upcoming result of RBI policy meet.
Nifty Future Jan series ended with 0.07% gain, open interest declined 5.98%, showing weak trend. Nifty put option has added 1.24% stocks in open interest and call option shed -5.26% position in open interest.
Nifty trading tips for tomorrow
Buy Tata Motors Future Jan 31, 2013 target 309.20 stop loss 304.85.
Buy ICICI Bank Future Jan 31, 2013 target 1215.60 stop loss 1175.00.
Buy HDIL Future Jan 31, 2013 target 83.10 stop loss 80.70.