NIFTY OUTLOOK FOR 05/02/2013

BULLS NOT ABLE TO SUSTAIN ABOVE 6022 AND

BEARS SEE A CLOSE BELOW 6000 AT 5987.
THE NEXT SUPPORT IS AT 5977 AND TRENDLINE
SUPPORT IS AT 5911-33 LEVEL.

MORE BEARS ARE THERE BELOW 5911, AND
BULLS CAN TERMINATE THIS BEARISHNESS AFTER
A CLOSE ABOVE 6044.

OTHERS REMAIN SAME AS FOLLOWS,
NIFTY GETTING CONSOLIDATION BETWEEN,
5955-6111 FOR MORE THAN THREE WEEKS.

SO, IT IS TIME FOR BULLS TO START THE FRESH
INNINGS AND ALSO TO START THE PRE-BUDGET RALLY.

BEFORE THAT TESTING 5911-33 LEVEL ALSO,
ON CARD.

ABOVE 6044, IT IS BULLS AREA, AND THEY
HAVE MEANING FULL NEXT RESISTANCE ONLY
AT 6200-6222 LEVEL.

ON THE DOWNSIDE,
5977 AND 5933, ARE THE SUPPORTS
AVAILABLE FOR BULLS.

NOW THE LONG TERM TREND LINE SUPPORT
IS AT 5911 AND ANY CLOSE BELOW 5888
WILL BRING PANIC SELLING TO THE SYSTEM.

Sell Pantaloon Retail Ltd at a stop of Rs 242.10.

Buy Rural Electrification Corporation Ltd at a stop of Rs 241.80.

Sell IDFC Ltd at a stop loss of Rs 168.

Buy Housing Development Finance Corp Ltd at stop loss of Rs 790.

Housing Development Finance Corp Ltd is the 'buy' call with a stop of Rs 785.

Sell Cairn India Ltd at a stop of Rs 328.5.

INDIAN SHARE MARKET