Highlights dated 24th Oct : Thursday 1. Stock highlights : We are long Reliance Industries, HDFC Bank , Godrej Inds , SBI , Tata Global, Infosys , ACC, JSW Energy Profit booked on short term call on Tata Steel. We squared off Biocon and Dr Reddys 2.Nifty near month : Expiry and rollover related activity yesterday caused volatility and sharp swings in Nifty. We continue remain bullish but would keep 6080 as a trigger for squaring longs and entering into short term shorts. 3.Bank Nifty near month : We continue to stay bullish on Bank Nifty for a initial target of 11,500 and all banking stocks are technically in a bullish set up. RBI credit policy at the end of this month is the next big event. 4.INR : We continue to stay short usdinr through futures as well as options. Today, USDINR would open around 61.55. RBI and govt have announced that they have received usd 10 bio under the recently announced swap facility for FCNR deposit which increases RBIs power to intervene to that extent. 5.Techno funda : Fed meet and RBI policy this month end would lead to position paring by market leading to sharp volatility ahead and carrying long positions is not going to be easy unless stops are kept far. For Complt Report : eepurl/HwMLb or Click the prior post
Posted on: Thu, 24 Oct 2013 03:53:39 +0000
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