An exclusive report by Share Tips Info

Nifty Trading Trendfor 05 May,2014

Market Outlook on 05th May 2014

Results to Watch

Canara Bank Century Textiles Emami Pantaloon Piramal Ent Tube Investment United Bank

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FII & DIIs Activity on 3rd May 2014

FII & DIIs Activity on 3rd May:FIIs bought Rs 387 cr in cash while DIIs werenet seller to the tune of Rs 405 cr.

FIIs Activity during the last week:FIIs bought to the tune of Rs 1206 croreduring the last week.

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Stock Market on 05th May 2014

US Stock closed in red, NASDAQ closed 0.1 % down while Dow and S&P closed 0.3% down on Friday. Europe mixed trend were seen, FTSE up 0.2% while DAX and CAC closed down 0.5%. SGX Nifty trading 13 points up.

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Stock Market on 05th May 2014

India to open flat to positive taking cues from SGX Nifty. Market is sell on rise as it lacks conviction at this point of time. One should play with minimum amount.

Indian markets are likely to remain under pressure in the trading sessions before the Lok Sabha election results, due to the mounting numbers of bearish derivatives bets by foreign institutional investors (FIIs). In the F&O segment, the open is lower than usual, which means people have turned cautious prior to the election results.

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Stock Market on 05th May 2014

If Nifty breaches the key support level of 6,650, selling pressure will mount. On the higher side, if the Nifty is able to breach 6,850-levels, strong buying could emerge.

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Technical

The weekly chart has also given a sell signal. 6705-6730 is the most critical zone maintaining above this level is important for Nifty to continue the bull trend. Trading below this means persistent weakness.

Strong Nifty Support and Resistance:Next strong resistance: 6737 – 6752Strong support: 6668 – 6646

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Fundamental Pick/ Technical Call

Fundamental Pick of the Day:Buy BEML Target Rs 450

Technical Call of the Day:Sell Sun Pharma Advance Target Rs 157 , S/L 175Buy Mangalore Chemicals Target Rs 78, S/L 70

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