Technical View: Yesterday, the Nifty opened strong and moved upto our target of 8440. Thereafter, the Nifty lost its gains steadily and eventually closed at 8378, above the support levels of 8370. For intra-day positions, we had recommended yesterday to book profits at 8440. Now with the Nifty having done that, we do not recommend fresh longs now. Initiate fresh shorts only below 8300 (the 26 EMA). Intraday Supports are at 8330 and 8300, while the Resistances are at 8400 and 8440. For the week, the Supports are at 8250 and resistance is at 8520. For Positional Players, the major Support is at 8180 and Resistance is at 8520. Headlines: Economic Times Ø Cabinet okays largest ever spectrum auction, to fetch Rs 64,840 crore Ø Coal block auctions will wipe out fiscal deficit: Report Ø RBI allows FIIs to buy 49% paid-up capital in Bajaj Corp Ø Euro falls to 9-year low; Greece and ECB in focus Ø Infosys worried at WB govts inaction over centre Ø Sebi proposes restrictions on wilful defaulters Business Standard Ø Cabinet approves ordinance for mines auction Ø CBI searches 21 locations in a case against IRB Infra Ø Docomo plans foreclosure action against Tata Sons Ø L&T construction wins Rs 4,006-crore contracts Ø Essel Propack boosts manufacturing capacity in Egypt, China Ø CCI rejects cartelisation charges against 12 banks Ø Maharashtra govt may increase FSI from 1.33 to 2.5 for Mumbai Business Line Ø Gujarat announces sops for entrepreneurs in new Industrial Policy Ø Govt not to dilute stake in PSBs at current valuations: Jayant Sinha Ø ‘Allow employees to choose salary payment mode’ Ø Andhra Bank to get capital from govt; no merger threat for now Ø Qualcomm may face record fine of over $1 bn in China Ø BSE to conduct live trading session from disaster recovery site Mint Ø BSE proposes new transaction tax structure in capital markets Ø Engineering firms barred from new projects over CDR Ø SC to hear NSE appeal against CCI in April, stay on penalty extended Ø British insurer Bupa plans to raise stake in Max Bupa to 49% Ø Interest rate cut key for real estate revival in 2015 Ø Transport Corp to raise Rs60 crore from IDFC Premier Equity Fund Financial Express Ø Canbank Venture buys 5% stake in Anand Teknow for Rs 16 crore Ø Blow for telcos as just 5MHz of 3G in auction Ø Global devices shipment to touch 2.5 bn units in 2015: Gartner Financial Chronicle Ø Berkshire soars as Buffett shifts focus to takeovers Ø Coal India raises shipments ahead of five day strike Ø Focus more on curtailing outflow of black money: GFI to India Ø Funding,investment climate to be moot points at CII session DISCLAIMER: report.systematixshares/DISCLAIMER/DISCLAIMERForSystematixShares.jpg
Posted on: Tue, 06 Jan 2015 06:00:07 +0000
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