Markets Updates for 07/03/2014

Updates for views suggested in the morning

Tatasteel:

Suggested buy price: 369 SL 365 tgt 373.

LTP: 370 day high 373.40 (target achieved)

SBI:

Suggested buy price: 1605 SL 1590 tgt 1625

LTP: 1647 day high 1664.45 ( call closed at 1638)

L&T:

Suggested sell price : 1215 SL 1225 tgt 1200

LTP:1204 low after recommendation: 1192 (call closed at 1208)

HDFC BANK:

suggested buy price : between 682 and 675 SL 670 tgt 700

LTP: 711.15 day high: 714.90 (call closed at 694)

M&M march 960 call: (recommended on 06/03/2014)

suggested price: buy above Rs25

LTP:41 (call closed at 45) (80% return)

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NIFTY UPDATES

Nifty has made fresh lifetime highs suggesting a bull market. Trend is up. Expect more upward movement in days to come.

Bank Nifty

Bank Nifty outperformed the nifty today. We suggested upward movement yesterday when bank nifty crossed its resistance of 11250. The next resistance for Bank Nifty now comes at 12250.

CNX IT

We suggested a wait and watch mode yesterday on CNX IT. CNX IT has broken on the down side. Our view is to wait for one more day and get confirmation as TCS is at support levels.

STOCK UPDATE

TCS

TCS is at support levels of 2220. Look for buying as long as support of 2220 is not broken for a target of 2260.

(The above are only views expressed and not a solicitation to buy or sell the stocks. Please consult your financial adviser before taking any position in the stocks.)