Nifty Trading Trend for 04 June 2014 - An exclusive report by Sharetipsinfo

An exclusive report by Sharetipsinfo.com

Nifty Trading Trendfor 04th June,2014

Market Outlook on 04th June 2014

RBI maintained status quo as per Repo and Reverse repo is concerned. But slashed SLR rate by 50 bps to 22.5%, this will make available around Rs 35,000-40,000 crore for private players.

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SLR cut Impact:

1) Banks: Positive for banks as will earn more by lending to the private players.

2) Corporate: More funds will be available for corporate.


FII & DIIs Activity

FIIs bought Rs 575 cr in cash while DIIs were net buyer to the tune of Rs 99.8 cr.


Stock Market on 04th June 2014

US Stock closed down, NASDAQ down 0.07%, Dow Jones down 0.13% and S&P 500 down 0.04%.European market closed down, FTSE down 0.41%, DAX down 0.31% and CAC down 0.27%.

Asian indices trading lower as investor awaits US jobs data and a decision from ECB on monetary policy.


Stock Market on 04th June 2014

SGX Nifty trading 10 points up, at 8 AM (IST).Indian market is showing good strength. Trend remains positive for the market.


Technical

Nifty may move up to levels close to 7500 or even 7550

Most critical levels: 7436 on the upside and 7357 on the downside.


Strong Nifty Support and Resistance

Strong resistance: 7465-7470 Strong support: 7340- 7360


Fundamental Pick/ Technical Call

Fundamental Pick of the Day: Buy Ashoka Buildcon Target Rs 170

Technical Call of the Day: McNally Bharat Target Rs 100, SL 90 Dhampur Sugar Target Rs 67, SL 59


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Nifty Trading Trend for 04 June 2014 - An exclusive report by Sharetipsinfo

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