Benchmark Equity Indices Records Fresh Lifetime Highs

Dear Trader…

Optimism in global equity markets also helped the local markets maintain their winning momentum for a second day. The BSE benchmark Sensex advanced 502 points or 0.77 per cent, to close above the 66,000 - mark. Nifty Futures surged 124 points to end at 19,598.

FII and FPIs, on Friday, saw a net purchase of Rs 2636.43 crore in the cash segment. A total of Rs 9849.57 crore was sold against a total purchase of Rs 12486.00 crore. Domestic institutional investors saw a net sold of Rs 772.45 crore in the cash segment. A total of Rs 8106.30 crore was sold against a total purchase of Rs 7333.85 crore.

Technically, the important key resistances are placed in July Nifty futures at 19598 levels, which could offer for the market. With immediate resistances at 19676–19707 levels, sustainability above this region would indicate that a directional upmove was possible. Immediate support is placed at 19505 – 19474 levels.

Ø Trading Idea for the Derivative Stocks

* GRASIM IND. @ 1760 Positive Trend with Stop loss of Rs @ 1730 for the Target near @ Rs 1777 - 1790 in short term

* TATA COMM. @ 1630 Positive Trend with Stop loss of Rs @ 1588 for the Target near @ Rs 1647 – 1660 in short term

* GODREJ PROP. @ 1667 Positive Trendwith Stop loss of Rs @ 1633 for the Target near @ Rs 1683 - 1690 in short term

* INDUSIND BANK @ 1382 Positive Trend with Stop loss of Rs @ 1360 for the Target near @ Rs 1390 – 1404 in short term

* HCL TECH. @ 1142 Positive Trend with Stop loss of Rs @ 1122 for the Target near @ Rs 1157 - 1170 in short term

* HDFC BANK @ 1646 Negative Trend with Stop loss of Rs @ 1690 for the Target near @ Rs 1633 - 1616 in short term

* BAJAJ FINSERV @ 1617 Negative Trend with Stop loss of Rs @ 1660 for the Target near @ Rs 1590 - 1577 in short term

* MUTHOOT FIN. @ 1302 Negative Trend with Stop loss of Rs @ 1330 for the Target near @ Rs 1288 - 1273 in short term

* SUN PHARMA @ 1072 Negative Trend with Stop loss of Rs @ 1108 for the Target near @ Rs 1060 - 1047 in short term

* BHARTI AIRTEL @ 890 Negative Trend with Stop loss of Rs @ 930 for the Target near @ Rs 878 - 868 in short term

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