02 January 2013: Daily Market Analysis: Keep an eye on 5967.If Nifty sustains above 5967 for 5-10 minutes then it will make attempts for 6000 by today itself. Technical support will be at 5918 levels.

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SENSEX (19580.80)

Sensex was expected to make attempt for 19620 and it hit a high on dot. I am expecting further rise. It seems that this breakout will give a target which should be near to 20000 marks. Market was in the need to trigger to cross 19600 and it got. Technical charts are suggesting that we will not break 19400 easily from now onwards. Banking and capital goods stocks will out perform the market in 2-3 days of time. We have seen strength on reality stocks too which are still looking for further rise. Use even intraday dip to buy.

(Support – 19500/19410/19340, Resistance – 19630/19710/19840)

NIFTY (5950.85)

Nifty hit a high at 5963.90 levels and closed above 5950. It is a confirmation tat 5967 is still a tougher level to deal. I am hoping that it will cross the resistance of 5967 today and it will open move for 6000. We already took long from yesterday.

(Support – 5880/5850/5838, Resistance – 5923/5950/5967)

BHEL (232.60)

One can expect good rise on this stock as it is sustaining above 232. I suggest trading long on this stock with stop loss at 230. One can expect higher target 240 to 242. Current formation suggests buying even in dip. Sooner or later this stock can hit even 260+ levels in this month of trades.

(Support – 230/228/226, Resistance – 238/240/242)

RELCAPITAL (493.45)

This stock may be impressive for this month if index kept on moving higher. Technical charts are suggesting for something near to 560 levels. For intraday I suggest buying with stop loss at 484. My choice will be to pick this stock for better gain than to make it only for intraday.

(Support – 485/478/470, Resistance – 504/516/524)