#StockTalk - January 14, 2014

CNX Nifty closed just above its daily 21 moving average. Nifty untill yesterday had been range bound with the band of 6250 on the upside and 6150 to the downside. However yesterday it seemed to have broken above the weekly band and has closed just above its 21 MA today. Traders still need to wait until there is a breakout either above or below the range to make long or short positions in high beta sector respectively.

Stock Watch: Since the tricky nature of Nifty for the day persisted, it is advisable to have a micro view and be stock specific.

Short PFC (power finance corp), Jan Series @149.5 levels with a target of 145 (3 %) to the downside. Keep a stop loss at 150.5. Trade days: 2-3 sessions

Long DivisLab @ 1280-1285 levels with an upside target of 1340 (3%) with a stop loss of 1265. Trade Days 3-4 Sessions

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