9th Jan 2013 - Morning update courtesy Dreamearn.com

Good Morning friends,

• Nifty will open flat.
• Nifty will take support at 5944 -5938.
• Nifty in January series can test 6138.
• Nifty is enjoying very good support
• 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 6020/6032/6044.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 is telling they have good support @ 13288.

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

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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. However, China data are in limelight. We are hoping that will help Global market.

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 situation)

Currency Front:-

Indian Rupees will go to open weaker. INR will run flat to weaker 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 flat to positive.

Europe Market will run mild positive.

USA Future market will run flat to positive.

News Front:-

Alcoa result came in first look good they feel that Aluminum demand will be rise in 2013 7% this is good for Nalco. Alcoa’s Chairman Mr. Klaus is talking much bigger for Aluminum. After hour trade, Alcoa is running near to 2% positive. Hope Indian metal stock can zoom.

Wockhardt gets approval to market anti epilepsy. This is good for stock.

EPC Ind. will show some correction in tomorrow trade.

JK Cement Board approves raising rs 200 cr. This is good for stock price and Company.

Tata Motor bets on SUV safari storm to increase market share.

Marico’s Kaya listing will help overall to Marico.

LIC picked up half of Hind Copper. No Comments.

Bofa-ML Upgrades PSU banks SBI, INDINA BANK, BOB, OBC, UNION BANK

Bofa-ML write on private bank ICICI, HDFC and YES Bank is better.

Cipla, if anyone is holding can hold or buy in any dips dispute LIC sold out Cipla some stake. We are positive in CIPLA. Promoter had released of 18.42 lakh pledged shares. Share price can zoom but we do not thing that price zoom will last long. Today much news is laying down about Airbus/ Boeing ….Oil leak …Emergency Landing etc.

Ramkey Infra Promoter are raising stake in company. We do not know well, it is visible.
Government all set to go for diesel/LPG/petrol price hike.

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Dance Sector:-

Reality is our pick. HDIL, DLF, UNITECH (LAST NIGHT WE GIVEN SAME TIME) Today Unitech…tomorrow what …….HDIL hope yes.

Positional Trade Guide: -

1) Hold Nifty for 6044/6078/6124. SL will be 5944.

2) Hold Bank nifty SL 12588 Target will be 12924-12880

3) Tata Motor will be buying for 320. SL 304.

4) Hold KTK Bank for 194 targets within this series SL will be 172.

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 2514/2538/2546. We are looking far better target in SBI. Final target will be higher. However, we are not posting, as something need to clear. 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 can buy near 1544 or below Use low 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.

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.