Macroeconomic indicator:

1.      US promised a lot today but ended moderately up (DOW up by 30 points). Obama appoints Bernanke for second term thus signaling a continuation of policies in effect.  Home sales data and consumer confidence is up in the US.

2.      Nikkei is doing slightly better on good global cue and is about 60 odd points.

3.      India saw profit booking initially followed by recovery on good global indicators. India will remain watchful ahead of expiry and also take note of center latest affidavit in apex court on the gas case.

 

We are close to expiry of August series so better we start watching trend of rollovers today. Market is expected to be volatile with a green opening.

 

No trading directions can be seen at opening. A gap up market open can be shorted for day gains.

 

A)   Nifty 50 Index (Very small trading window)

 

Sell- Current levels – 4675

Buy- 4644

Stop loss – 4688

Target – 4632 (Daily chart)

 

 

Stock Specific Futures:

 

            Avoid stock futures for the day..

 

Margin Trading:

 

Same as stock specific futures.

 

Investment tips for today.

 

Start acquiring capital goods (ABB, BHEL, L&T), Auto (Maruti), Steel (SAIL), Power (NTPC), IT (TCS, Infosys), Bank (SBI, PNB), Reliance, RPL, Airtel, Cement (GACL, Ultratech) at lower levels. Take preferred midcaps stocks like TTML, Idea Cellular, IFCI, Satyam, Reliance Energy, RNRL at lower levels as well.