The markets have turned weak in the last week but the undertone continues to be bullish albeit with a bit of consolidation within range of 5764 and 6092. The intra day traders may note that the immediate trend signals have turned bearish which may be utilized to build long positions in the F&O segment with 5740 as stop loss. The Nifty may open strong but its immediate weak trend will only be reversed if it conquers the 6032 level, the immediate resistances are at 5932 and 5970.
As the undertone continues to be bullish, the medium term investors may continue to add the key stocks we had advised earlier accumulating them in small quantities.
HDFC BANK @ 650.45
ITC @ 327.45
COAL INDIA @ 316.85
ONGC @ 310.85
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