Market Commentary & Stock To Watch-11 August 2015

A bout of volatility was witnessed in late trade as key benchmark indices tumbled into the red and hit fresh intraday low after remaining in positive terrain for the most part of the trading session. Metal stocks led losses on the bourses. The barometer index, the S&P BSE Sensex and the 50-unit CNX Nifty, hit almost one-week low in late trade. The Sensex was provisionally down 204.36 points or 0.72% at 28,032.03. The market breadth indicating the overall health of the market was turned negative from positive in late trade.

STOCKS TO WATCH

L&T:  
Buy L&T above 1800 stock may show 1860-1880 level in coming days, below 1800 major support will be 1860.

ICICIBANK:
Buy ICICIBANK above 299 stock may show 325/335 level, remain below 299 more down side is expected.

UNIONBANK:
Buy UNIONBANK above 201 for the target of 218/224 in coming days, keep buy on dips. 

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