Indian Stock Market for 4th June 2014

INDIAN STOCK MARKET

With stop loss of 7,520, make short position in NIFTY FUT. Any time, a sharp fall may be seen for target (NIFTY: 7,200).

Make short position in Bank Nifty with stop loss 15,560 for target 14,800 & below.

Intra-day:

First half is expected to be bearish for the market.

In the second half, recovery is indicated.

TRADING RANGE:

n  NIFTY FUT: 7,470-7,350

n  BANK NIFTY:15,400-15,100 & BELOW

Technically NIFTY FUT is positive only above 7,445 for target 7,465-7,480. Below 7,400 NIFTY FUT can drop to 7,355-7,312-7,280.

Technically BANK NIFTY is strong above 15,250 for target 15,330-15,425. Below 15,150 BANK NIFTY is weak for target 14,975-14,800.

->BUY ON DIPS:

–        NFL

–        CHAMBAL FERTILIZER

–        CROMPTON GREAVES

–        BHEL

–        CENTURY TEXTILE

–        ABB

–        ANSAL PROPERTIES

–        ALSTOM INDIA