SHARE MARKET TIPS FOR TODAY
-BUY IFCI Ltd. Intraday Target 43 Stop Loss 40.
-SELL DLF Ltd. Intraday Target 232 Stop Loss 237.4.
-BUY M&M with a target of Rs 730-735.
-BUY ITC with a target of Rs 207 and stop loss of Rs 200.
Indian market is likely to trade the week with renewed volatility as issues relating to Eurozone dominate news flows. On the domestic front, lower than expected IIP numbers, which was 1.8% percent against major consensus of 3% for the month of December is likely to add to the volatility. However, market is unlikely to dip sharply and we may find 5,250 act as a base of fresh entry into the market. Autostocks led by Maruti, Tata Motors and M&M and some real estate stocks like DLF and Unitech may find renewed buying on dips in anticipation of reversal on interest rates on poor IIP numbers. Investors should continue to favour `Buy` on dips strategy in banking stocks.
The Indian market opens for trade this morning on a negative note following soft global cues. Earlier, the US markets ended with marginal gains with the Dow up 72 and Nasdaq up 27 odd points while Asia is in the red at this hour. Sensex is trading at 17762, down 10 points from its previous close, and Nifty is at 5384, down 6 points. CNX Midcap index is up 0.2% and BSE Smallcap index is up 0.3%.
NIFTY LEVELS FOR TODAY
PP - 5268 S1 - 5257 R1 - 5304 S2 - 5201 R2 - 5335 S3 - 5170 R3 – 5371
