INDICES ENDED WITH MODEST LOSSES AFTER SWINGING WILDLY EITHER WAYS DURING THE COURSE OF THE DAY. VOLATILITY ROSE AFTER THE RESERVE BANK OF INDIA RAISED INFLATION AND GDP GROWTH FORECAST WHILE KEEPING KEY POLICY RATES UNCHANGED AT THEIR HISTORICAL LOW LEVEL AT A QUARTERLY MONETARY POLICY REVIEW. EUROPEAN MARKETS WERE SLIGHTLY LOWER AND MOST ASIAN STOCKS ROSE. POOR Q1 RESULTS CONTINUED TO WEIGH ON THE INDEX HEAVYWEIGHT RELIANCE INDUSTRIES FOR THE SECOND DAY IN A ROW. BANKING SHARES SLIPPED. HOWEVER POWER STOCKS ADVANCED. THE MARKET WAS VOLATILE. AFTER A FIRM START TRIGGERED BY GOVERNMENT SOPS TO STIMULATE THE ECONOMY ANNOUNCED AFTER TRADING HOURS ON MONDAY, 27 JULY 2009, THE MARKET SOON SLIPPED INTO THE RED. IT CUT LOSSES AFTER THE RBI'S POLICY ANNOUNCEMENT AT ABOUT 11:15 IST. HOWEVER THE INTRADAY RECOVERY PROVED SHORT LIVED. THE MARKET WEAKENED AGAIN. THE MARKET BOUNCED BACK ONE AGAIN IN AFTERNOON TRADE AS THE RBI KEPT POLICY RATES AT RECORD LOW LEVELS. THE SENSEX HIT ITS HIGHEST LEVEL IN MORE THAN A MONTH. HOWEVER, THE MARKET FAILED TO SUSTAIN HIGHER LEVEL AND ONCE AGAIN SLIPPED INTO THE RED LATER.
TODAY IF NIFTY TRADES BELOW 4532 THEN IT IS LIKELY TO TOUCH 4486 BUT ONE IS ADVICED TO STAY AWAY FROM SHORTS AS MARKET IS LOOKING VERY STRONG STUCTURALLY AND ABOVE 4572 MARKET MAY CROSS 4600 AND THEN 4617 AND IF IT TRADES ABOVE THIS LEVEL THEN ON CAN SEE NIFTY AT 4650 MARKET ON THE UPSIDE IS STRONG THAN ON THE NEGATIVE SIDE. WITH THE FNO SETTLEMENT ONE IS ADVICED TO TRADE LESS AND CAUTIOUSLY AS MARKET WOULD REMAIN RANGE BOUND WITH HIGH VOLATALITY.
BUY RELINFRA 1208 SL 1196 TGT 1222.
BUY TATA MOTORS ABOVE 412 SL 404 TGT 422/428
BUY SESAGOA SL 242 TGT 252/256
BUY HCC FUTURES ABOVE 116 SL 114.5 TGT 119/122
BUY SAIL SL 176 TGT 180/182
BUY BIRLACORP ABOVE 296 SL 291 TGT 304/308
BUY GITANJALI GEMS ABOVE 107.50 SL 103 TGT 112/115
SELL ICICI BANK BELOW 738 SL 749 TGT 725/715
TODAY IF NIFTY TRADES BELOW 4532 THEN IT IS LIKELY TO TOUCH 4486 BUT ONE IS ADVICED TO STAY AWAY FROM SHORTS AS MARKET IS LOOKING VERY STRONG STUCTURALLY AND ABOVE 4572 MARKET MAY CROSS 4600 AND THEN 4617 AND IF IT TRADES ABOVE THIS LEVEL THEN ON CAN SEE NIFTY AT 4650 MARKET ON THE UPSIDE IS STRONG THAN ON THE NEGATIVE SIDE. WITH THE FNO SETTLEMENT ONE IS ADVICED TO TRADE LESS AND CAUTIOUSLY AS MARKET WOULD REMAIN RANGE BOUND WITH HIGH VOLATALITY.
BUY RELINFRA 1208 SL 1196 TGT 1222.
BUY TATA MOTORS ABOVE 412 SL 404 TGT 422/428
BUY SESAGOA SL 242 TGT 252/256
BUY HCC FUTURES ABOVE 116 SL 114.5 TGT 119/122
BUY SAIL SL 176 TGT 180/182
BUY BIRLACORP ABOVE 296 SL 291 TGT 304/308
BUY GITANJALI GEMS ABOVE 107.50 SL 103 TGT 112/115
SELL ICICI BANK BELOW 738 SL 749 TGT 725/715
ACCUMULATE EDSERV CALL WAS GIVEN YESTERDAY KEEP ADDING
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