After losing sharply for the first 4 days of the week, markets reversed sharply to negate most of the losses and closed the week with slender losses. Both Sensex and Nifty lost more than 1% week on week. PSU oil marketing companies were in the lime light along with other PSU stocks. RCom, Maruti, Unitech, Hero Honda, Tata Motors and HUL were the other Nifty gainers (5%+). Bharti, Dr Reddy, BHEL, Reliance and Sterlite were among the major losers.
The global cues are positive and hence we may see a strong opening here. 4750-4760 on Nifty acts as a strong resistance. Multiple supports are identified between 4560-4600. Markets may trade range bound with stock specific rallies. A close above this level may turn the things for a rally towards 5000. Trade stock specific with adequate stop losses.
BUY
LITL @ 408-410 Tgt 444, 500 SL 390
ICSA @ CMP Tgt 224, 260 SL 200
YESBANK @ 167-168 Tgt 182 SL 162
ADLABSFILM @ CMP Tgt 374, 410 SL 340
HDIL @ 294-295 Tgt 322 SL 288
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