The condition of the market is still down Sensex is down by 24.98points T 20704.40,Nifty
is also down by 11.10points at 6163.50.near about 584shares have advanced, and
near bout 528 shares declined in share market and 337 shares are still unchanged in share
market.
- Indian markets ended up. Nifty, Sensex went up by 0.20% and 0.17%.
- Asia-Pacific markets went up on the back of strong trade data of US.
- US closed high. US Trade Balance at -34.3B. Dow Futures up by 35 pts.
Indian
markets today snapped its five-session losing streak and rose for the first
time this year. Investors bought fundamentally strong stocks available at
attractive lower levels amid hopes of encouraging quarterly earnings from
blue-chip companies. Nifty up 12.35 pts, closed at 6174. Sensex up 36.1 pts,
closed at 20729. Europe is trading weak.
Stock Recommendation
CapitalHeight’s stock
recommendation for 09/01/2014 is Axis Bank Ltd. It has been trading in down
trend from last few days. In today’s trading session was down by 2.12%. On the
daily chart, it made a long black candlestick pattern and closed below 200 DMA
level. It is taking support of upward trendline; if it intersects trendline
then we can see some selling pressure on stock. Momentum indicator stochastic
is also trading in negative territory. All the indicators are suggesting that
the stock can see continue downside movement in coming days. Its short term
support level is at 1120. One can go for short position in this stock below
1200. The stock may test level of 1030 in coming days.
Our recommendation on Axis Bank is SELL below 1200 for the Target of 1190-1175.
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