The First Call (Daily Technical Note)

Nifty and Sensex have lost nominal ground. Use the level of 3930 (Nifty) and 13,700 (Sensex) as the stop loss level for long positions. Nifty faces resistance between 4000-4050 level and Sensex between 14,000 -14,100 levels.

BSE Mdicap has exhibited a near doji candlestick. BSE Smallcap Index has exhibited a bearish candlestick. CNX IT has gained further ground.

In the Punter's zone we have a buy on Bata India, Bank of India and Grasim.

In the Technical call sectio we have a buy on Tata Motors, Nicholas Piramal and Ashok Leyland.

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Thanks Yash