Daily Nifty

24th Feb 2010 : Today we have the gross domestic product Quarterly and yearly for Germany , quarterly statistics show a decline of 0.7% from previous 0.7% with no signs of improvement in the economy, but show a decline of goods and services produced in the country. The GDP data is to be released at 12:30 PM IST will have sudden movements in the Sensex and the Nifty, we would recommend building up positions after the data is released. The decrease in the GDP could worsten the situation in the Asian markets following a stronger US Dollar.

Industrial New orders pending at 3:30 PM , show a decline in the new industrial orders on a monthly basis. from previous 1.6% to constant -1.2%


US equities closed negative yesterday day with the DJIA and the SP500 closing -0.18% and -0.10%
respectively. The European bourses were negative yesterday with the FTSE down -0.11% the DAX and
the CAC closing positive at -0.59% and -0.34% respectively. The NIKKEI and the HSI at the time of
writing is -0.47% and 1.26% respectively.


Therefore, we do not expect the Nifty to break above 5052 anytime soon. The Eur/Usd has been consolidating and might test 1.32 due to the impact of the Recession in Greece . There are rumors that the ECB is planning to give a 25Billion EUR Bailout for Greece, however the EUR is supported with no official confirmations yet.

Our Assumptions based on the Nifty until the budget is released.

Our targets for Nifty are 4904 and 5036 is where we will book profits , 5052 is max nifty could reach.

Below 4757 , we see 4539 .

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Equities For Delivery and Intraday


Please note : (SL = Stop Loss)
(For Intraday traders, I would suggest you book profits {per lot size} on a 2 Rs. Gain .and also that the stocks mentioned below can be traded for an intraday basis for the 24th of Feb only) For Traders/investors wanting to take a delivery on the Stock, keep the Stop loss in Mind and hold the stock until you see gains within a matter of 6-7 day's .
Stocks mentioned can also be held for one week to one month , Targets mentioned for stocks should be strictly considered including their Stop losses.)

unicable SL 76 target 85

wanbury intraday .. SL 69.50 Target 74

trigyntech target 25 (bullish on intraday) for long term delivery book profits above 27.

SUNPHARMA (Bullish) SL 1533 (intraday)

STARPAPER (buy above Rs.32 . with targets 34-38 and 42 ) Intraday and delivery

ICICI Bank Buy above 855 with targets of 880 and 890

Tata Steel Buy with a Target of Rs.600 and Rs.620

sudarshan chemicals target 382 SL 359 (Intraday)

SOFTPRO target 296 and above (Delivery / intraday )

SMS PHARMA (INTRADAY AND DELIVERY) SL 149 . target 170 . and above for delivery
zenithinfo lowest , intraday trade. , for delivery best buying price would be 209.

PVR Buy above Rs.174 targets Rs.190

But Patni computers with targets of Rs.500 (Delivery) (Intraday)

Ruchi soya buy with SL of Rs.92

Buy Solar Industries Sl 413.9

simplex infra targets Rs.450 and Rs.500 SL 400.35

SIEMENS SL 645 target 690 and above.

SHILPA MEDICALS buy above 243 with targets Rs.265

vimta labs , intraday buy (best delivery buy at 21.65)