GOOD MORNING!!!
AS EXPECTED YESTERDAY MARKETS HAVE HIT THE FIRST TARGET OF NIFTY AT 4460 WHICH WAS THE CRUCIAL SUPPORT FOR NIFTY. THOUGH THE MARKET REVERSAL ON CARDS WAS NOT PURELY ON SUPPORT BASIS BUT ON THE NEWS BASED IT WAS PURELY ON THE DIVESTMENT NEWS. THERE IS NO GREAT NEWS IN THE MARKET FOR THE PAST COUPLE OF MONTHS EXCEPT THE FORMATION OF NEW GOVERNMENT WITH THE SAME OLD PARTY AND WITH SAME OLD GRAND FATHERS EXCEPT FULL MAJORITY, THERE IS NEITHER A GREAT CHANGE IN THE WORLD ECONOMY NOR THE INDIAN ECONOMY. ONE HAS TO BE VERY CAUTIOUS AFTER A NON STOP MOVE FROM 2700 TO 4600 WHICH IS AROUND 2000 POINTS IN NIFTY WHICH IS CONSIDERED TO BE A VERY VERY VERY HIGH SPIKE AT A GO, SO WOULD ADVICE INVESTORS TRADERS TO STAY CAUTIOUS.
FOR TODAY NIFTY ON THE UP SIDE MAY TEST 4578 AND IF MANAGES TO TRADE ABOVE THEN WILL MOVE TO 4626 AND ON THE DOWNSIDE IF NIFTY WILL FACE SUPPORT AT 4480 AND IF MANAGED TO BREAK BELOW THIS LEVEL THEN CAN EXPECT NIFTY TO SEE GREATER SUPPORT AT 4432 ONE CAN INITIATE SHORT IF NIFTY BREACHES 4480. PHARMA STOCKS AND POWER STOCKS ARE LOOKING GOOD.
BUY NEYVELLIGNITE AT 139 SL 137.40 TGT 142.9/145.40
BUY ACC ABOVE 832 SL 828.70 TGT 845/852
BUY TATACOMM ABOVE 527 SL 517 TGT 540/555
SELL SESAGOA BELOW 162.50 SL 164.10 TGT 158.60/155.10
SELL M&M BELOW 683 SL 691.75 TGT 665/653
