MARKET RECAP KEY MARKET DATA POINTS Yet another day of consolidation was observed on the D – Street in the absence of any fresh triggers for upside. The domestic markets remained range bound for second consecutive session post the rally of Tuesday’s session. Index Nifty, initially nosedives towards 10850 mark but recovered sharply during the second half to close well above 10900 mark with marginal gains. Meanwhile, Nifty Bank index displayed wild swings by recovering almost 300 points form day’s low to close in positive terrain. The market breadth turned negative amid the high volatility and profit booking in individual stocks. On the sectoral front, we witnessed a mix bag of picture wherein NIFTY MEDIA (-2.08%) stocks remained the biggest laggards whereas NIFTY REALTY (+1.19%) counters gained the most. From the F&O space, DCBBANK (+3.87%), JETAIRWAYS (+3.50%) and MINDTREE (+2.84%) were the top performers. MARKET OUTLOOK    Despite some initial hiccups during the session, Nifty has again managed to close above 10880. In fact it has closed above 10900 which indicate that the triangle breakout is still intact and Nifty has a potential to sneak above 11000 mark. TA the same time, we also maintain our stance that 11200 still remains a very strong hurdle for the bulls. Thus we would advise traders to start booking profits once index arrives near that zone. As of now, the support of 10620 has now been shifted to 10690. Only a move below the same might dwell the ongoing momentum. For the coming sessions 10930 and 1010840 would remain an intermediate resistance & support respectively for the markets. Currently we advise traders to trade with positive bias but avoid any overleveraged positions.Disclaimer)

MARKET RECAP                                                    KEY MARKET DATA POINTS The week began on an optimistic note for the domestic markets following the positive global cues. However, it was a confusing session too since with regards to index we saw a decent upside but the market’s internal strength remained quiet weak. Index Nifty spot maintained its upside and cleared the hurdle of 10930 on the back of strong rally in RELIANCE to close with an upside of 50 odd points. On the other hand, Nifty Bank index remained extremely flat. Despite the upside, market breadth remained strongly in the favour of declining counters due to selling in MIDCAP and SMALLCAP stocks. On the sectoral front, NIFTY REALTY (-1.43%), NIFTY PSU BANK (-1.31%) and NIFTY AUTO (-1.11%) remained the biggest laggards whereas NIFTY PHARMA (+0.52%) were the top performers. From the F&O space, RELIANCE (4.4%), UBL (+4.4%) and SREINFRA (+4.16%) outperformed others. MARKET OUTLOOK Since past three sessions, NIFTY was unable to clear the hurdle of 10930. While yesterday the index managed to clear the same on a closing basis which indicates strength. However, the only concern was lower participation from other stock. Pattern wise there is a clear breakout which indicates potential upside towards 11000 – 11100. In addition, the daily ADX (14) indicator has signalled a positive crossover which might bode well for the bulls. Thus we maintain our stance that the upside could continue in the upcoming sessions. At the same time, we would like to mention that 11100 - 11200 still remains an important resistance where traders should start booking their long positons for the time being. Meanwhile, 10880 – 11000 levels are likely to act as intermediate support and resistance respectively in the coming session. Traders are again advised to avoid over leveraged positions. MARUTI - DAILY CHART STOCK OUTLOOK On the larger degree charts, Maruti has been trading in a down trend. Thus, the recent upside could be termed as a pullback of previous fall and not a fresh impulse. Breakdown on the daily chart indicates beginning of fresh downside. Thus, we advise traders to short the stock in the range of 7200 - 7300 with a stop loss of 7470 for the target of 6800. Disclaimer)