Yesterday: Indian stock market went down due to frustrating IIP numbers as predicted. But any how Market managed to close above support of 9400 for sensex and 2850 for Nifty.

Today: Still Indian stock market looks positive and one can go for swing trading for a period of three to four days. Market may still see uptrend until if don’t breach the level of 2800 for Nifty. Some kind of profit booking may be seen at higher levels which can pull market down. So profit booking should be done at every uptrend in the market.

BSE Sensex: (9466) The support for the Sensex is 9400 and the resistance to the up move is at 9850.

NSE Nifty: (2893) the support for the Nifty is at 2850 and the resistance to the up move is at 2950.

Data to watch: Rail Budget.

Today’s pick: Go for swing trading in Reliance capital. (For couple of days)