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MARKET GOSSIPS
Markets up 3%; gets sentiment boost from RBI and Infy. Wall Street ends up on hopes of debt solution in Washington. August IIP comes in at paltry 0.6% Vs 2.8% in July. FIIs investment limit in Tech Mahindra raised to 45%. Hinduja Automotive buys 2.6 crore shares of Ashok Leyland. GAIL selling $65 mn worth of stake in China Gas.
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NIFTY WEEKLY
Markets gained momentum for the whole week gaining around 3% supported by rupee appreciation and good Infy nos. Nifty future on weekly charts is exhibiting Head & Shoulder pattern according to which stiff resistance is seen near the neckline i.e. around 6200 and thus seen as crucial mark. Bulls will take it towards higher levels of 6240-6300 if it sustains above 6200. While reversals from the neckline can cause some correction where major support range is seen around 6000-5950. Volatility may be seen due to Q2 nos. of major companies.
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MARKET WATCH
Indices Change
INDEX VALUE PTS %
DATE
07-OCT-13 08-OCT-13 09-OCT-13 10-OCT-13 11-OCT-13
FII
(Figures are in Rs. cr.)
DII
(Figures are in Rs. cr.)
1010.45
-544.19
STOCK
HDFC HEROMOTOCORP LAST UPDATE LAST UPDATE
BUY/SELL
BUY BUY
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TECHNICAL VIEW
AXISBANK FUTURE ON DAILY CHARTS IS FACING RESISTANCE NEAR THE TREND LINE AND MAY GIVE A POSITIVE BREAKOUT. BUY ABOVE 1129 TARGETS 1165-1200. MAINTAIN SL OF 1085.
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