UPDATES FOR VIEWS FOR 11/03/2014

Updates for the views suggested in the morning

buy Jindal steel between 261-262 SL 258 tgt 268

SL triggered                     day high after call 264

buy tatamotors at 400 SL 398 tgt 406

SL triggered                     high after call 402.15

buy reliance power at 67.50 SL 66 tgt 70

call open

buy bank nifty at 12100 SL 12000 tgt 12250

call open

buy reliance 880 call at 24 tgt 32 SL 20

SL triggered

buy TTK prestige at 2930  SL 2850 tgt 3200

call open

buy axis bank 1450 call above 43 SL 40 tgt 50

call not initiated

profits booked today in 

IDEA, KOTAK MAHINDRA BANK AND TECH MAHINDRA

NIFTY UPDATES

The nifty is consolidation mode after the big upmove. The declines are not very strong and there is buying coming in at 6500 levels. Expect the contraction to be over soon and the nifty may soon resume the uptrend.

BANK NIFTY

As mentioned yesterday and even during market hours today he resistance of bank nifty comes at 12250. We suggested to trade cautiously when bank nifty reached 12280 levels during intra day. The bank nifty corrected significantly from 12280 to 12002 during the day. But we expect the bank nifty to trade above the resistance level soon.

CNX IT

CNX IT opened strong during the day but gave up the gains soon. The downtrend is slowing down and support for CNX IT comes at 9600-9650 levels. We expect CNX IT to start moving up soon and look for buying opportunities in TCS, WIPRO and Tech Mahindra.