Today The Intraday Market continues to hold its yesterday’s gains.
The Nifty opened at 6803, up 6.85 points and Sensex is up 50.97 points at
22753.31. About 367 shares have advanced, 109 shares declined, and 23 shares
are unchanged. Tata Motors, Reliance, Sun Pharma are gainers in the Sensex.
Hero Motocorp, Wipro, ITC, Maruti and Tata Steel are laggards. The Indian rupee
opened marginally higher by 9 paise at 60.04 per dollar versus 60.13 Wednesday.
CapitalHeight’s stock market recommendation for 10/04/2014
is Axis Bank Ltd. It has been trading in uptrend from last few months. In
today’s trading session, it was up by 4.54%. On the daily chart, it formed
“Long bullish” candlestick pattern and has taken resistance at trend line
level, if it comes above this level then it can see some buying movement in
coming days. Momentum indicator RSI is also trading in positive territory.
Its short term
support level is at 1400. One can go for long position in this stock above
1490. The stock may test level of 1550 in coming days. From precious metals
space, gold prices pare their losses to rise above 1310 dollars on FOMC
minutes. In commodities, NYMEX crude prices edged down after gaining in the
previous session due to an unexpected spike in gasoline demand and tensions
over Ukraine.
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