GOOD MORNING!!!!!!!
THE KEY INDICES FELL FOR THE THIRD STRAIGHT DAY AS INVESTORS CAPITALISED IN ON GAINS AFTER A RECENT SOLID SURGE IN THE STOCK PRICES, WEAK GLOBAL MARKETS TRIGGERED PROFIT BOOKING. INDEX HEAVY WEIGHT RELIANCE INDUSTRIES TUMBLED FOLLOWING AN UNFAVOURABLE COURT RULING ON GAS SALES, IT HAS SLIPPED MORE THAN 7.5% AFTER THE COURT DIRECTED RIL AND RNRL TO SIGN GAS DEAL. AT THE SAME POINT OF TIME RNRL SURGED LIKE A ROCKET BY GAINING 26%. INDICES HAVE BREACHED THE PSYCHOLOGICAL MARKS WITH SENSEX SLIPPING BELOW 15000 AND NIFTY BELOW 4500 MARK. THOUGH MARKETS HAVE GIVEN UP BY ALMOST 100 POINTS IN NIFTY BANKING SECTOR REMAINED VERY STRONG AND REMAINED IN THE POSITIVE ZONE.
THE KEY INDICES FELL FOR THE THIRD STRAIGHT DAY AS INVESTORS CAPITALISED IN ON GAINS AFTER A RECENT SOLID SURGE IN THE STOCK PRICES, WEAK GLOBAL MARKETS TRIGGERED PROFIT BOOKING. INDEX HEAVY WEIGHT RELIANCE INDUSTRIES TUMBLED FOLLOWING AN UNFAVOURABLE COURT RULING ON GAS SALES, IT HAS SLIPPED MORE THAN 7.5% AFTER THE COURT DIRECTED RIL AND RNRL TO SIGN GAS DEAL. AT THE SAME POINT OF TIME RNRL SURGED LIKE A ROCKET BY GAINING 26%. INDICES HAVE BREACHED THE PSYCHOLOGICAL MARKS WITH SENSEX SLIPPING BELOW 15000 AND NIFTY BELOW 4500 MARK. THOUGH MARKETS HAVE GIVEN UP BY ALMOST 100 POINTS IN NIFTY BANKING SECTOR REMAINED VERY STRONG AND REMAINED IN THE POSITIVE ZONE.
TODAY WE CAN EXPECT MARKETS TO BE HIGHLY VOLATILE WITH NEGATIVELY BIASED. NIFTY HAS BREACHED THE MAJOR SUPPORT, ONE CAN STAY SHORT WITH STOPLOSS AS 4665. IF NIFTY BREACHES BELOW 4488 THEN WILL LEAD TO 4440-4392, THERE AFTER IT HAS SUPPORT AT 4353. ON THE UPSIDE NIFTY IF SURGES ABOVE 4545 THEN MAY LEAD TO 4588-4620. TODAY METALS STOCKS LIKE STER, TATASTEEL,HINDALCO, SAIL ETC LOOKS WEEK. MARKETS WILL OPEN IN NEGATIVE BUT THERE IS EVERY POSSIBILITY THAT IT MAY PULL BACK BE CAUTIOUS.
BUY UNITECH ONLY ABOVE 87.6 SL 86.1 TGT 90.75/92.40
BUY AXIS BANK ONLY ABOVE 716 SL 704 TGT 730/739/744
BUY RNRL ABOVE 108.50 SL 104.90 TGT 115/120
SELL RELIANCE BELOW 2180 SL 2197 TGT 2150/2110/2080
SELL TATASTEEL BELOW 435 SL 443.1 TGT 424/416/410
SELL STER BELOW 669 SL 676 TGT 654/636/616
SELL DLF BELOW 355 SL 361 TGT 344/335/324
