BSE 13,786, F&O Nifty 4,080 and RIL 2,140, are the three trigger levels for market to jump 10% in short period. Till then market may be volatile due to good and bad news.
As per the media reports about windfall tax on private oil companies is the result of yesterday`s fall in Reliance stocks. Reliance may go down up to Rs 1,946 and Rs 1,875 on both levels.Initiate fresh long position in Nifty only above 4,147.
Star Trade: Deccan Air up 20.3%; adds 1.6 lakh shares
Fresh Shorts: RPL dn 3.3%; adds 19.7 lakh dn 6.5%; adds 9.4 lakh shares Reliance dn 4.1%; adds 4.1 lakh shares Bajaj Hind dn 7.5%; adds 4.4 lakh shares
Short Covering: IFCI up 4.9%; sheds 10.7 lakh shares Nagarjuna Const up 7.4%; sheds 3.3 lakh shares JP Asso up 4.4%; sheds 3.2 lakh shares
Fresh Long: Siemens up 6.5%; adds 1.2 lakh shares Satyam up 3.6%; adds 6 lakh shares SBI up 3.9%; adds 3.2 lakh shares.