Share Market Closing Today/Nifty Outlook: Weak global markets and worries about the economy rendered the mood bearish on the Indian bourses today. Resulting both benchmark indices ended the day in red that was trading in the red right through the session. The Sensex closed slightly above 17,300, losing over 135 points or around 0.8%. The Nifty closed at 5223.05, down 50.95 points or 0.97%.
Hot Stock-Reliance Capital: Its a intrigued fact that Reliance Capital is not really falling much. If it was a serious market fall it would have led the fall and probably touched Rs. 310. Instead it was using all opportunities to rally. So was other ADAG stocks. True, they have been oversold. But if you look back to the 2011 December, as the rest of the market was falling these guys had bottomed out and started going up.
Short-To-Mid Term Calls For Tomorrow 6 Sept:
HDIL - (Duration: 4-5 weeks)
Buy on dips around 67.50 Target 75.50 Stop Loss- 65.95.
RCom - (Duration: 4-5 weeks)
Buy on dips around 48 Target 56.50 Stop Loss- 46.55.
Syndicate Bank (Duration 1 week)
Buy Above 97 Target 101 Stop Loss- 95.
Bajaj Auto - (Duration 5-7 days)
Sell Around 1,660 Target 1,610 Stop Loss- 1,680.
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