GOOD MORNING!!!
MARKETS IN THE LAST TWO TRADING SESSIONS LOST ALMOST 692.38 POINTS THAT IS ALMOST 4.62% MARKET INDICES EXTENDED LOSSES FOR THE CONSICUTIVE DAYS AS INVESTORS TOOK PROFITS OF RECENT SURGE IN THE SHARE PRICES, AND FII HAVE ADDED FUEL TO THE FIRE BY SELLING IN HUGE VOLUMES, THIS HAS MADE MARKET SENTIMENT MUCH MORE BEARISH, IN TOTALITY BEARS HAVE COMPLETELY CAPITAVATED ON THE MARKETS AND DIDNT ALLOW ANY KIND OF RECOVERY IN THE WEEK. THIS FALL WAS SUPPORTED BY REALITY, METALS AND CAPITAL GOODS THESE WERE THE THREE SECTORS WHICH HAVE LOST MUCH IN THE MARKET AND BANKING WAS KEY SECTOR WHICH HELD TIGHTLY. LAST TRADING SESSION INITIALLY MARKETS WERE HOVERING IN POSITVE AND NEGATIVE ZONES QUITE FOR SOMETIME BUT LATER IT TURNED INTO RED WITH BIG BANG. MARKETS HAVE TESTED CRUCIAL SUPPORT LEVELS AND PULLED BACK FROM THAT POINT IF MARKETS SUSTAIN THIS LEVEL WHICH WAS TESTED YESTERDAY THEN WE MAY SEE NIFTY TO MOVE UPWARDS TO 4700 LEVELS BEFORE OUR BUDGET AND IF THE LOW BREACHES AND TRADES BELOW THAT AND HAPPENS TO CLOSE TODAY THEN WE MAY SEE MORE PAIN TO COME IN THE NEXT FEW SESSIONS AND LIKELY TO TAKE MARKET AROUND 4000 LEVELS.
TODAY MARKET MAY OPEN POSITIVE BUT WOULD BE VERY RANGE BOUND BUT THE SENTIMENT REMAINS WEAK IN THE MARKET. LEVELS ONE HAS TO WATCH IN NIFTY ARE IFN IFTY TRADES BELOW 4240 THEN WE CAN SEE NIFTY AROUND 4200 THEN AT 4170 AND IF NIFTY TRADES ABOVE 4300 THEN WE CAN EXPECT NIFTY TO FACE RESISTANCE AT 4340 CHANCES ON THE UPSIDE SEEMS TO BE REMOTE.
BUY DISTV ABOVE 39 SL 38.75 TGT 41.50/43.90
SELL ACC BELOW 757 SL 771 TGT 741/736/731
SELL RELIANCEINFRA BELOW 1200 SL 1206 TGT 1185/1177/1171
