ANOTHER IMPORTANT DAY IN THE STOCK MARKET, THESE ARE THE CRUCIAL LEVELS IN THE MARKETS, INDICIES MAY TEST GOOD RESISTANCE AT THE CURRENT LEVELS. YESTERDAY SENSEX HAS HIT 15000 MARK AND COULD NOT SUSTAIN MUCH LONGER WHICH IS A CRUCIAL LEVEL FOR THE MARKETS. FOR NIFTY CRUCIAL SUPPORT IS AT 4460 ONCE NIFTY BREACHES THIS LEVEL AND TRADES BELOW IT THEN ONCE CAN EXPECT MARKET TO COME DOWN MUCH MORE. ANY FURTHER UPMOVE IN THIS MARKET SHOULD BE PRECIDED BY AT LEAST SOME CORRECTION FROM THE PRESENT LEVELS. ONE HAS TO BE VERY CAUTIOUS ON THE LONGER TERM BET AT THIS SITUATION. SENSEX IF MANAGES TO GO BEYOND 15000 AND CLOSES THEN ONE CAN EXPECT IT TO MOVE UP BY ANOTHER 500 POINTS TO 15500 AND NIFTY BY ANOTHER 150 POINTS TO 4800 TO THE MAXIMUM AND ON THE DOWNSIDE THE TARGET LOOKS MUCH HIGHER THAN EXPECTED, MARKET MAY NOT GIVE ANY CHANCE TO BOOK PROFITS IF IT STARTS FALLING SO, BE CAUTIOUS IN THE MARKET ON YOUR HOLDINGS TOO. IF MARKET BREACHES 4460 IN NIFTY THEN I WOULD SUGGEST TO EXIT YOUR LONGS TO THE MAXIMUM ON THE CLOSING BASIS.
FOR TODAY MARKETS WOULD BE HIGHLY VOLATILE WITH NEGATIVELY BIASED WE MAY SEE SOME PROFIT BOOKING ON THE FRONT END STOCKS AND THERE WOULD BE LITTLE UPMOVE ON THE STOCK SPECIFIC COUNTERS IN THE MIDCAPS. BANKING SECTOR LOOKS WEAK AND FMCG IS LOOKING GOOD. TODAY IF NIFTY BREACHES 4518 THEN WE CAN SEE NIFTY AT 4460 AND IF MANAGES TO TRADES BELOW IT THEN WE CAN SEE NIFTY AT 4388 AND ON THE UPPER SIDE IF NIFTY MOVE ABOVE 4550 THEN RESISTANCE WOULD COME AROUND 4590 LEVELS. RISK ON THE BUYING SIDE IS MORE WHEN COMPARED TO SELLING SIDE SO STAY LITTLE CAUTIOUS, TRADE WITH STRICT STOPLOSS. DO NOT AVERAGE YOUR POSITIONS ON THE BUYING SIDE. IF YOU ARE A RISKY TRADER BUY FEW PUTS AND RETAIN THEM.
BUY YESBANK ABOVE 135 SL 131.20 TGT 139/144
BUY SUNTV ABOVE 273 SL 269.40 TGT 280/284/292
BUY DCHL ABOVE 85.50 SL 83.90 TGT 89/92
BUY GRASIM ABOVE 2305 SL 2274 TGT 2334/2365/2379
SELL ALLAHABAD BANK BELOW 86 SL 87.60 TGT 83.70/82.10
SELL BANK OF BARODA BELOW 421 SL 426.15 TGT 416/411
SELL BATA BELOW 146 SL 148.60 TGT 143.50/141/136
SELL BANK NIFTY BELOW 7270 SL 7311 TGT 7170/7035/6900
