DAILY NIFTY MARKET ANALYSIS 21/10/2013

ECONOMY ANALYSIS

• Coal block auction, food stock offload soon
• L&T Q2 PAT seen down 22% at Rs 890cr, margin may fall: Poll
• Power scene dull; relying on Mid, Far East orders: BGR
• Expect to maintain 17% growth rate going forward: DB Corp
• Fed won’t slow easing any time soon, thanks to Congress
• Info Edge eyes realty sector growth to sustain 17% margins

MARKET ANALYSIS

The Indian markets witnessed a stellar rally on the last trading day of the week as investors turned bullish on hopes that the Quantitative Easing in the US will continue in 2014.

The Nifty ended at 6189.35 up 143.50 points or 2.31 per cent. The index touched intraday high of 6,201.45 and a low of 6,070.90. The index shut shop near 2013 high of 6187.3 made on May 17, 2013.

The foreign institutional investors bought shares worth Rs 1,109.93 crore while domestic institutional investors were net sellers worth Rs 1,149.22 crore on Thursday as per the provisional data from the National Stock Exchange.

DAILY PIVOTS

INDEX                  S1        S2       PP        R1       R2
NIFTY               6104     6026     6152    6230   6278
BANK NIFTY   10515   10291   10649  10875  11009

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