SNI MARKET OUTLOOK UPDATE 05TH JANUARY 2014 : Nifty broke out from the contradicting pattern zone which had a resistance at 8390. A follow-up buying on the next trading day can confirm the momentum and the index will be expected to witness a move up to 8750. In the case the move turns out to be a whipsaw, a stop can be placed at 8270. Nifty futures had fresh additions on Friday. Although with lower magnitude but initiation of longs in Nifty future is positive, while forward shift in calls keeps the headroom open up to 8600. ♦ Govt thinking of asking public sector banks (PSBs) to each form a separate holding company to hold its stake as well as the banks stakes in their various subsidiaries. Idea of single holdco is likely to be done away with - Positive for PSU Banks. ♦ COAL INDIA: (CMP INR 382, TGT INR 415, BUY)Govt likely to Put CIL Rail Links in Private Hands; Cos will charge users for building, operating railway lines connecting mines to power, steel, cement projects For more details log on to sainathinvestment
Posted on: Mon, 05 Jan 2015 04:46:57 +0000
Trending Topics
Recently Viewed Topics
© 2015