An exclusive report by Share Tips Info

Nifty Trading Trendfor 12 May,2014

Market Outlook on 12th May 2014

(Momentum suggest Nifty is about to brace 7200. But be cautious as everything is dependent on the big

event, i.e.: outcome of general election.)

Results to Watch

Balrampur Chini Just Dial Torrent Power

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FII & DIIs Activity on 07rd May 2014

FII & DIIs Activity on 07rd May: FIIs bought Rs 1268 cr in cash while DIIs were net seller to the tune of Rs 75 cr.

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Stock Market on 12th May 2014

US Stock closed in positive territory, NASDAQ up 0.5%, Dow Jones up 0.2% and S&P 500 up 0.15%. Europe closed on negative note, FTSE down 0.36%, DAX down 0.27% and CAC down 0.66%.SGX Nifty trading 14 points up.India to open flat to positive taking cues from SGX Nifty. We are cautiously optimistic on the market as market will be volatile before the election outcome.

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Technical

The huge swing on last Friday put all our doubts at rest. Nifty created history by posting a fresh all time high again 6871.35.

Now, it needs to cross the supply zone between 6870 and 6900 to continue its upward march. Once comfortably above the 6900-mark, its next target would be 6940; beyond this level, the next supply zone—in our anticipation—would be found between 7000 and 7050

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Strong Nifty Support and Resistance

Next strong resistance: 6935- 7000 Strong support: 6790-6800

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Fundamental Pick/ Technical Call

Fundamental Pick of the Day:1). Buy Manaksia Target Rs 90

Technical Call of the Day:1). Uttam Galva Target Rs 72 , SL 66.5

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