Posted By : Kishore B.S
MARKET OUTLOOK 10TH JAN 2013
The market to open on higher side due to the strong result from the IT Company Infosys. But IT stocks have already moved a lot from past 2 month, by outperforming the Nifty index. Hence we will have to wait and watch how the result impacts the markets.
Although Nifty going down day by marginally. We think it will reach 6000 on downside. As we recommended to go short on Nifty it is working out.
But the banking stocks like Axis, ICICI bank some PSU banks like SBI and BOB, the trend in these stocks are looking very negative which in turn dragging Bank Nifty down. So short Bank Nifty keeping a stop loss of 11150, down side target is 10300. Big target positional call so trade with a stop loss.