Broader outlook and levels for Feb 18th, 2014

Nifty edged higher on the first trading session of the week after the Finance Minister P Chidambaram said that the fiscal deficit will be contained at 4.6% of GDP for the year ending 31 March 2014  and will be pruned further to 4.1% of GDP in 2014-15 and that the CAD will be contained at $45 billion in 2013-14. Nifty closes at 6075 and FII Bought INR 522.82 crs and DII Sold INR 245.17 crs

Shortterm trend
As I said Vote on account I feel is non event and is just a day event and we did not see any significant change in momentum and I strong feel crossing 6100 is very important and sustaining above this level for two days may move market to 6140 and 6180 levels and on the lower side  below 6040 I said we could see 5980 levels which is 200 day DMA and 5920 a we should take into consideration did not close below psychological 6,000 mark Other way if you want to trade range it is buy at 6000 and sell at 6100 market as state before.

What is looking good is private banking and Auto sector have seen good revival and where as PSU were still weak and could impact the move of the sector.Technical charts are still suggesting that if Nifty stands tall above 6075 then it can try to come near 6100-6105 marks for once. India VIX has come down by 5% to 15.83 and option PCR has come to 1.29.

Intraday Levels
We could open flat as indicated and If Nifty can trade above 6080 for 15 minutes we could see 6095 and 6110 and on the lower side below 6060 for 15 minutes we could see 6045 and 6030.

Top pics for the day are  Auro Pharma, M&M, DrReddys, CESC, Hexaware, Biocon and Adani Port for Buy/Sell and correct levels contact vijaykumarrao.invest@gmail.com.

Commodity Levels
Will look to buy Bullion, Crude, Natural Gas, Copper and Natrual Gas where as  sell in Zinc and Lead but will suggest to trade based on levels in live market and my above outlook is based on broader trend based on previous days data.

Pivot levels of Key Stocks