GOOD MORNING!!!!
THE MARKET WAS VOLATILE AS EXPECTED WITH AN EARLY SLIDE TRIGGERED BY WEAK GLOBAL CUES, THE MARKET CUT LOSSES IN THE MORNING TRADE WITH LITTLE RECOVERY ON THE CHINEESE MARKETS AND THERE AFTER COULD NOT SUSTAIN IT LONGER, MARKET BREADTH TURNED VERY NEGATIVE IN THE AFTERNOON SESSION IN CONTRAST TO A POSITIVE BREADTH EARLIER IN THE DAY. SELLING BY FORIEGN FUNDS IN THE LAST THREE DAYS AFTER THE RECENT AGGRESSIVE BUYING ALSO DAMPENDED SENTIMENT OF THE MARKET. WE EXPECT MARKET TO SLIDE FURTHER ON THE WEAK GLOBAL CUES AND THE SENTIMENT.
MARKETS TODAY WOULD BE NEGATIVELY BIASED AND THE OPENING IS EXPECTED TO BE WEAK. IF NIFTY TRADES BELOW 4350 WILL DIRECTLY TAKE IT TO 4300 AND THEN 4280 IF NIFTY TRADES BELOW 4300 FOR SOMETIME THEN WE CAN EXPECT MUCH MORE PAIN THAN WHAT IS EXPECTED IN THE MARKET IT CAN GO TO 4220 LEVELS EVEN IN TODAYS TRADE. AND ON THE UPPER SIDE THERE ARE VERY REMOTE CHANCES BUT IF NIFTY TRADES ABOVE 4350 LEVELS THEN WE CAN SEE LITTLE BOUNCE IN THE FORM OF RETRACEMENT AND TO THE MAXIMUM NIFTY MAY GO TO 4400.
SELL LT BELOW 1472 SL 1486 TGT 1446/1438/1426
SELL ONGC BELOW 1062 SL 1071 TGT 1040/1031
SELL HDIL BELOW 240 SL 246 TGT 231/225/216
SELL TATA STELL BELOW 422 SL 431 TGT 408/401/396
SELL RELIANCE CAPITAL BELOW 925 SL 944 TGT 901/886/865
SELL CENTURY TEXTILS BELOW 400 SL 411 TGT 386/374/366.
