Nifty closed below 6000 mark for the first time after 11th Jan, 2013. Today at the last day of the week and the very first day of the February expiry as well as first day of the second month of the calender year, Nifty closed at 5998.9, down by 35.85 points and Sensex slipped by 113.79 points to settle at 19781.19.
Among BSE Sectoral Indices, Consumer durables gained the most by 1.77 whereas Realty Index was the top loser.
In Nifty50 stocks, BPCL gained the most by 2.96% to end at 422.6 and JP Associat was the top loser as dropped by 4.14% and closed at 83.35.
Suzlon was the turnover topper by the traded quantity and Bhartiartl was by the traded value on NSE today.
Advance/Decline ratio was negative to 1.36 : 1 as 859 stocks declined and 633 stocks gained today on NSE.
Nifty Outlook :
Spot Nifty has broken an important support of 6010 which may initiated short positions but to confirm the trend, two consecutive closings should be below the support level.
Nifty near month fut is trading in a very narrow range of 6020 and 6080.Any sustainable closings above or below these levels should be considered as decisive. Downside is protective at around 5920-5840 levels. Any dip up to 5920 would be proved as a healthy correction for the rally ahead.
Recommended Stocks for short term investments.
Bankbaroda with a stop of 831
Glenmark abv 535 or at 465
Hindpetro with a stop of 317
IDBI with a stop of 105
Indhotel abv 63
LICHsgFin with a stop of 277 or 270
RCOM with a strict stop of 77
SAIL with stop of 86 for short term target of 97
Tatchem with a stop of 353
Tiatn above 288 on a closing basis.
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