Indian Stock market is likely to remain in the range of 5260-5360. The direction will be given to market by Infosys results and RBI policy. 5000-5150 should be key support areas and 5450-5550 will be key resistance area to book profit for next 2 months.
The market is looking for pointer and cues which will come in the form of earning season and RBI's monetory policy. RBI policy meet can helps markets to sustain and take it beyong the previous high closings. Foreign Inflow will also decide market movment. In the month of March foreign investors has invested 46,000 crore into indian equitieis.
Stock Tips for Monday
Ranbaxy - BUY call above 484, Stop Loss below 478 and Target 490-500.
Jindal Steel - SELL call below 523, Stop Loss above 530 and Target 518-513
SBI – It is looking good for long term and should be accumulated on sharp dips 1900-1960.
HDFC Bank – One of the best stock in banking sector to pick and is good for long term BUY.
JK Lakshmi Cement – It will be good to hold this stock.
Intraday Support & Resistance for Hot Stocks
Axis Bank - Bullish
S2 – 1146.80, S1 – 1156.70, PP – 1165.25, R1 – 1175.15, R2 – 1183.70
HDFC Bank - Bullish
S2 – 522.05, S1 – 524.30, PP – 526.65, R1 – 528.90, R2 – 531.25
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