Buy Nifty future in 4730-4735 range: ICICIdirect.com

"protecting candle's low is required to keep the positive options open." Index did attempt protecting the low, yet upsides kept below 16049. While most sectors finished on a flat note along with Sensex, Auto Index gained 1.2%, and Oil&Gas/Realty Index shaved off 1.6% each. The A/D ratio ended flat again. The action formed even smaller Bear candle compared to previous day, which also avoided closing below its low. The 2-day lows of 15800 could, therefore, prove crucial. While selling intensifying below 15800 can take it towards Tuesday's gap-up area, protecting 15800 keeps open the option of faster retracement above 16049.

Nifty Future
Comment : Future premium down from 11 points to 8. Hesitation continues near previous high of 4808. Reverse if fails to reach / sustain beyond 4750-60.
Action : Buy in the range of 4730-4735
Targets : 4760 / 4775 / higher
Stop-loss : 4728

Tata Power
Action : Buy above 94.00
Targets : 96/97/Higher
Stop-loss : 93
Higher top and higher bottom in the daily chart and price above 21 days EMA

Lupin
Comment : Price crossing above 50 days EMA and RSI in buy mode
Action : Buy above 451.50
Targets : 459/462/Higher
Stop-loss : 447.5

Hindustan Zinc
Comment : Taking resistance from 200 days EMA and trendline resistance in the daily chart
Action : Sell below 122
Targets : 119.50/118/Lower
Stop-loss : 123.25

Bharti Airtel
Comment : Trendline support breached in the daily chart and stochastic in sell mode in daily chart
Action : Sell below 345.50
Targets : 339.50/337/Lower
Stop-loss : 348.5

Bodies Corporate holding more than 50% in Indian cos

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