Morning View on Stock Markets

Hi Everyone,
                       Good Morning Folks! We see that there is some global uncertainty and it might help the Indian markets coz the more problems for US, the farther the tapering goes. So there is nothing to worry for the markets as of now. As SGX Nifty is suggesting, the Nifty would open in the positive and might trade in the range. In the first half, Nifty would test the level of 5800-5820. If it is successful to break the level and sustain above that, a good buying amount might flow into the markets.
                       The support for Nifty is around 5680-5700 and the resistance is around 5800-5820. Energy,Cement and metal stocks might shine in today's trade keeping in view the CAD numbers.

Tata Steel

                This stock was very badly beaten down in yesterday's trade but it is a very strong stock and is at a long term support level. We suggest to go long in this stock at current levels.

CMP  - 271.55

Targets  -  285/290

SL  - 265 

We recommend going long in this stock in the range of 270-275

We will update the blog with other picks and also the updates. If the stock moves into profit, we recommend to trade with a trailing stop loss to lock profits. Please trade with a proper stop loss and money management. We would love to hear comments and views from you. 

Happy Trading !!!
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