GOOD MORNING!!!
MARKETS HAVE OUTPERFORMED FOR LAST COUPLE OF WEEKS WITHOUT MUCH PROFIT BOOKING, ACCORDING TO TECHNICALS ALMOST ALL THE INDICATORS ARE PEAKING OUT ONE CANNOT RULE OUT THERE WILL BE A CORRECTION ANYWHERE NEAR THESE LEVELS ONE HAS TO BE VERY CAUTIOUS ABOUT MARKETS ON THE LONGER SIDE AND BEFORE ANY FURTHER UPMOVE WE EXPECT MARKETS TO DECLINE BEFORE ANY FURTHER UPMOVE ABOVE 4650-4700 LEVELS. MARKETS ARE IN THE HIGHLY OVERBOUGHT REGEION, BUT ONE CANNOT RULE OUT THAT MARKETS STRUCTURALLY ARE VERY BULLISH. SHORT ONLY WHEN YOU GET CONFIRMATION OF SELLING AND DONT RISK IN THE MARKET.
TODAY MARKETS WOULD BE POSITIVELY BIASED THIS IS A GREAT OPPORTUNITY FOR PEOPLE TO EXIT FEW OF THEIR POSITIONS IN THEIR PORTFOLIOS. NIFTY IF MANAGES TO CROSS 4560 IN TODAYS TRADE THEN WE CAN SEE NIFTY TO FACE RESISTANCE AT 4600 AND IF MANAGES TO TRADE ABOVE WE CAN SEE NIFTY AT 4650 IN TODAYS TRADE AND ON THE NEGATIVE SIDE IF NIFTY BREACHES 4490 THEN WE CAN SEE NIFTY TO SLIDE DOWN TO 4450-4420 LEVELS. NIFTY SUPPORT AT 4485 AND 4432 AND RESISTANCE AT 4602 AND 4570. ONE CAN GO SHORT IF NIFTY CLOSES BELOW 4362.
BUY ABB FUTURES AT 669 SL 664 TGT 675/679
BUY AXIS BANK FUTURES AT 751 SL 739 TGT 768/779
BUY BALAJITELE FUTURES AT 68 SL 65.5 TGT 72/74
BUY CHAMBAL FERTILIZERS FUTURES AT 68 SL 65.80 TGT 72/74.4
BUY SUZLON ABOVE 115 SL 112 TGT 120
BUY ICSA ABOVE 200 SL 196 TGT 209/212/216
BUY RNRL 88 SL 84.40 TGT 92/94
BUY CAIRN ABOVE 263 SL 249 TGT 285/300/320 (CAN HOLD POSITIONALLY WITH 225 AS STOPLOSS)
