Markets end flat with positive bias::
The market opened flat to positive yesterday following an overnight rally in the U S markets. The mood in the market however, remained lackluster for the major part of the session and the indices slipped in the red around mid afternoon on profit taking at higher levels. The investors appeared cautious on fear that any negative news from the global markets may result in sharp correction despite better advance tax payment numbers, GDP estimates and IIP data. The indices however, managed to close with modest gains on good buying support of auto and IT sector stocks.
Nifty June 2010 futures were at 5,223, at a discount of 10.35 points compared to spot closing of 5,233.35. Turnover in NSE's futures & options (F&O) segment was Rs 93,203.13 crore, lower than Rs 1,02,689.03 crore on Tuesday, 15 June 2010.
The counter may further move to 5259/5284 once it trades and remains above 5239.75. Strong short term support for the NF exists at 5209.25 which if breached decisively with volumes then NF may slip to 5184/5162.
A C Choksi Fundamental Research:
JSW Steel : cmp 1062.9, tgt1-1304 & tgt2-1474Bajaj Auto : cmp 2284.7, tgt1-2333 & tgt2-2584.3
Gujarat State Petronet LNG : cmp 95.5, tgt1-124.2 & tgt2-161.8
IVRCL Infra : cmp 183.6, tgt1-212.3 & tgt2-237.8
Yes Bank : cmp 283.8, tgt1-325.5 & tgt2-397.8
Shriram Transport Finance : cmp 581.1, tgt1-671.7 & tgt2-811.8
PINC Research (FOR POWER PICKS):
Apollo Tyres : cmp 65, tgt 89
GESCO : cmp 291, tgt 384
Glenmark : cmp 262, tgt 353
Infosys : cmp 2736, tgt 3100
M&M : cmp 608, tgt 782
Patel Engg : cmp 411, tgt 544
Ranbaxy : cmp 435, tgt 792
Shree Cement : cmp 2090, tgt 2639
Tcs : cmp 766, tgt 1499
FOR TODAY: IF NIFTY FUTURE TRADES ABOVE 5250, GO LONG FOR TARGET OF 5284 OR IF NIFTY FUTURE TRADES BELOW 5224 GO SHORT FOR TARGET OF 5205
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