Today's Hot Stocks L&T, Ultra Tech, City Union

L&T: Sell Call for the Target of Rs 1200-1180 Keep Stop Loss of Rs 1235.

After making a strong rally to the upside the stock of L&T is trying to consolidate in between Rs 1,180-1,260. If we look and analyse the daily chart it is pretty much clear that in the last 9 trading sessions the script has been trading range bound, which signifies that L&T may move down. If it goes below 1217 in upcoming days it may witness further fall till 1180. The traders mat take positions accordingly.

Ultra Tech: Buy for the Target of Rs 2012 to 2032 with keeping Stop Loss at Rs 1954.

The stock of Cement major has shown consistency in the upward movement in the stock. After a strong rally upwards Stock Currently is in the consolidated between Rs 2,000 to 1,902. If Script sustains above Rs 1,985 it may hit the nest target of 2012 then further up to 2032.

City Union Bank:  Buy for the Target Price of Rs 52-55 with placing Stop Loss at 50.

The Stock is moving upside on consistent basis. We believe that the script may breach it's current resistance of Rs 52 and can touch the level of Rs 55. Traders may take opportunity to Buy This Stock.

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Market Outlook | Nifty Trend Today

Nifty Trend Today: The Indian Stock Market will be showing positive trend in the upcoming days.  Asian markets seem to get more better in the upcoming days. On the upside market may witness resistance at 6550-6575 & at this level Investors may book profit. On the Lower side 6474 can be considered major support for Nifty. There is no need to get worry till this support. Ahead of the market expiry 6400-6425 will play as key support to watch. Market may not go below 6400 level at current market conditions.

Key Nifty Support Resistance Levels for Today

Nifty Support - 6475 Resistance - 6575

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Sensex & Nifty Closed at Record High

Once again the Indian stock market indices Sensex & Nifty are experiencing the Modi wave. Expected outcome of the assembly elections 2013 pushed the market index at all time record high today. Election results in all four states were as per the expectations of the market. In day trading session, the Sensex touched the highest level of 21,484  while Nifty also made a new high after 5 years and 11 months. Nifty crossed the major resistance level of 6357. Due to Profit Booking by investors and day traders today market could not sustain on the higher levels. 

Finally the 30 Shares Index BSE Sensex with 330 points up, i.e. 1.6 percent closed at 21,326. The 50-share Index NSE Nifty closed with a gain of 104 points, i.e. 1.7 percent at 6364 levels. 

Market Highlights of the Day

• Market witnessed heavy buying of shares of banking, capital goods and realty sectors.
• Sectors like pharma and FMCG witnessed a Rally 
• DLF, Sesa Sterlite, ICICI Bank, Larsen, Ambuja Cements were among the top Nifty Gainers while Jindal Steel, Cipla, Lupin, Cairn India, Tata Steel were among the Top Losers of the Day.
• ICICI Bank, Sesa Sterlite, Larsen, Maruti Suzuki, ONGC were among the top Sensex Gainers while Jindal Steel, Cipla, Tata Steel, HUL were among the Top Losers of the day. 

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NSE Nifty Trend Today

Indian Stock Market Indices are expected to remain volatile ahead of the Expiry according to the market experts. If we see any corrections in the nifty index around 6040-6050 level then one may initiate the long position in the market else traders may also long the position to assume the 6025-6050 level range as the stop loss for it. For the intraday Nifty is expected to take the support level around 6050 level while we can see the resistance level in between 6150-6163.

Asian Stock markets including the Indian index are expected to open on the flat to negative note today. Banking sector stocks may show a downward trend during the today's trading session. 

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