8th Jan 2013 - Morning update courtesy Dreamearn.com

Good Morning friends,

• Nifty will open flat.
• Nifty will take support at 5944 -5938.
• Nifty will buy in dips, if found below 5968. That will be best buy with SL.
• Nifty in January series can test 6138.
• Nifty is enjoying very good support
• Bank nifty if give 100 point correct can buy. Bank Nifty first target will be 12924.
• Nifty have immediately support is 5978. Second level support is 5944.

Nifty above 5978 no problem can go to test 6020.This is Intraday Advice.

Nifty below 5978 can go to test 5964/5954. We are not advising for short position. If sign is up, do not trade against of trend. This is Intraday Advice.

Dow can take support and start to run for another 150 points. Dow chart still showing weakness. Better view will pass tomorrow.

Nifty today high will be resistance for this week. As we had wrote last night.

Read Full post many more Updates @ www.dreamearn.com

Data Front:-

Global data and news, many data will come most of them are look good. However, any big rallies had not expected in next sessions.

This week IIP data will come at end of the week that looks weak. (Better view we will pass later)

However, Weak IIP data will not hurt market sentiment. Seem to us that market can zoom with weak data. (Depend on Global Market sitatuation)

Currency Front:-

Indian Rupees will go to open strong. INR will run flat to strong in Intraday.

Gold Price View:-

Buy below 29,500 -30,000 Investor can buy gold from this level.
(Gold, Oil and Currency views had given for reference purpose. Do not trade on our view)

Oil Front:-

Oil will be opening strong and going to trade full day in strong line.

Oil price correction can help Indian market. We are telling that oil will not run in 2013-2014. There is no big spike are visible in near future.

Global Market View: -

Asian Market will run mix to flat.

Europe Market will run mild positive.

USA Future market will run flat to positive.

News Front:-

Government seeking to amend controversial Tax Rules on Next month parliament session. This is good news for Vodafone and other Investor as well as good for Market.

RIL D6, Gas output is far away from target.

RIL CAG to begin KG-D6 audit on 9 Jan.13.

RIL need nod to do-Notify part of Jamnagar SEZ.

China seen small public unrest last afternoon. How to play this small news not able to understand.

Dalmia Bharat stake hike in Dalmia Sugar and Ind.

Worker Unrest seen at Colgate – Pal at Goa unit. Use bad time to buy stock.

Veer Energy is moving on open Offer. No need to buy.

Kajaria all set to raise production. It is our Investment product.

Government all set to go for diesel/LPG/petrol price hike.
 
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Dance Sector:-

Weekly Dance Sector will come to your screen before opening or market.

Positional Trade Guide: -

1) Buy near to support level 5968 or below. Buy Nifty for 6044/6078/6124. SL will be 5944.

2) Buy near to support level. Bank nifty SL 12588 Target will be 12924-12880

3) A) Tata Motor will be buying for 320. Only buy below 308 with SL 304.

4) KTK Bank for 194 targets within this series SL will be 172. Buy at lower level.

5) Buy Bajaj Auto, Target will be 2214/2248/2268/2300/2344. We are long since 2088. This target can come within this series.SL will be 2070. Hold for final target.

6) SBI is buy recommendation for target 2514/2538. We are looking far better target in SBI.
Buy from lower level. We are thinking that SBI can test 2440-2420. SL will be 2394.

7) Gulf Oil Corporation for 94/98 SL will be 86. Better to buy near 87 to 88 that will be safe trade.

8) L&T buy for 1684/1714/1754/1800. SL will be 1498. Dear if L&T take support at, 1572 we will buy. However, technical we are feeling more down side can come. Better to settle down than buy. We will guide you. We changed SL.

9) Arvind for 108/114 if Holds 98. We brought 99-100. If anyone are willing to hold can hold for new target 120 to 124 within February 2013.

10) Ranbaxy Lab for 522 SL will be 492. Ranbaxy new target will be 538. SL will be 508. Please use system SL @ 508.

Thank you very much for following and reading our post.

Ideas had taken from John,Mr. Chetan Singh,Mr.Jignesh, Nano khan, Kamboj ,Neeraj and Prachi Didi.

Written By: – Nano Khan.