Boring Markets nowadays... Expect Markets to show some moves as we go closer to budget day. Nifty has support around 4770/4730

Nifty View:

Nothing has changed much since yesterday. The view remains the same. Bounce back that has started can take Nifty up to 4860 & 4920. Nifty has good support at 4770/ 4730. Below these Nifty will again become weak and may head for the previous low of 4675.


Stock View: Bajaj-Auto

Bajaj-Auto is moving in the range of roughly 150 rupees since December 2009. It is facing stiff resistance near 1800-1840 levels and has a good support around 1640-1660 levels.

Once it crosses 1840 with huge vols then expect 2000-2050 on this stock. The stoploss for this trade should be placed at 1730.Only problem is vols, please buy if and only if the volumes are closer or higher than 10-day average volume.





Stock View: Burnpur Cement

Burnpur Cement Stock is holding on to the purple line since March 2008 low and now has almost crosses the two Red Resistance lines. The stock is looking good for short term as there are huge volumes to support the breakout too.

The stock can be bought if it sustains above yesterday's high of 15.75 for a quick move or buy at current level with targets of 17.5/19 and with a stop loss of 14 on closing basis.


Have a nice trading day

Regards

Ankit