Supports were expected to hold and they did. But beyond that, nothing much. So no point in spending more time on index analysis as all that had been stated earlier continue to be valid. Only notable fact is the continued increase in the FII Index short positions- now reaching 1.25L contracts. Do they know something that we don’t?

Meanwhile from yesterday’s stock discussions:
Hdfc Life could be a buy around 750 with a tight stop as it is on a stage 4 breakout on the charts and 750 would be a good pullback zone. The others didnt impress and hence the fledgling uptrend in Sbi Life also appears to be fizzled out. it seems like market chose to ignore the news in PVR. So we should do likewise. Stock is in a ranging mood so discard it from the list. Cement stocks were in demand, as had been expected, but were stock specific. That trend should continue. Tech M came out with palatable results and we may see improvement if prices can move past 1612. ITC Hotels results were good and I had indicated 235 as a price level to cross for more gains. It has closed at 238. Look for continued rise here.

For results names today: plenty to watch for, so TV guys would be busy. There are six names from Nifty list, so we need to pay attention.
Axis B is the main one. Trading near support at 1150 and hence good numbers can propel it from here. wipro is and stock has looked up yesterday and flashed a buy in intra day charts. Look for continuation. JioFin has been quite trended recently. So, good numbers are a must for continuation. If not profit taking toward 310 can occur.

Continue with buy dip approach in indices and stock specific buys.