Tit bits

The geopolitical tensions in the Middle East ais sentiment-negative for the Indian markets which is already reeling under pressure due to escalating crude oil price, a weak INR as well as growth pangs. However,  my gut feeling is that this Iran - US tension will not drag too far. 

Nifty has good support around 11850 - 11650 region,  where it is expected to find intermediate bottom.  

Now or at around 14:45 pm the BSE Sensex was trading at 40,770.28 or down 130.77 points (-0.24%) while the Nifty was seen at 12,003.50 down 53.00 points (-0.41%). The charts are giving some indication that perhaps this correction is over. You can go for Nifty longs with the target of 12100.

#Buy the Share of Wockhardt Ltd at around Rs.239/241 for short term targets of Rs.247/251. This is a speculative buy.

#Buy the shares of 63 Moons Technologies Ltd at around Rs.104/105 for short term targets of Rs.117/121.

#The share of Reliance Capital Ltd (Rs.13.30) has been hitting the LCs since some time.  The stock is expected to test its intermediate bottom before going for a consolidation phase. Stay away for the time being.