GOOD MORNING!!!!
YESTERDAY MARKETS WERE VOLATILE AS TRADERS ROLLED OVER POSITIONS FROM JUNE TO JULY SERIES AHEAD OF THE EXPIRY OF JUNE CONTRACTS. NIFTY FUTURES WAS 29.19% AS AT END OF TUESDAY'S TRADE. THE ROLLOVER WAS 34.47% IN MINI NIFTY FUTURES, KEY BENCHMARK INDICIES HAVE CUT LOSSES AFTER HITTING FRESH INTRADAY LOW IN THE AFTERNOON. SECTORS LIKE FMCG, BANKING, IT STOCKS FELL AND CAPITAL GOODS WERE STRONG. WE COULD SEE THAT THE SENTIMENT ON THE BOTTOM LINE IS STILL INTACT AND STRUCTURALLY INDICES LOOKS STRONG ABOVE 4200 AND GETS STRONGER ONLY ABOVE 4340 IF THIS LEVEL IS CROSSES ITS A CLEAR INDICATION OF GOING FOR LONGS. THE NEXT MAJOR TRIGGER FOR THE MARKET IS UNION BUDGET. MANY ANALYSTS HAVE RAISED EARNING FORCASTS OF INDIA INC ON HOPES THAT THE NEW GOVERNMENT WILL PRIVIDE THRUST ON THE INFRASTRUCTURE SECTORE AND PUSH THE ECONOMIC REFORMS TO BOOST GROWTH.
TODAY MARKETS WOULD BE HIGHLY VOLATILE AS THERE IS EXPIRY OF JUNE CONTRACT. THERE WOULD BE STOCK SPECIFIC MOVEMENTS IF NIFTY BREACHES 4340 AND TRADES THEN WE CAN SEE NIFTY TO FACE RESISTANCE AT 4400 LEVELS AND ON THE DOWN SIDE IF NIFTY TRADES BELOW 4284 THEN WE CAN SEE NIFTY TO FACE SUPPORT AT 4220 AND THEN AT 4170.
BUY JINDAL STELL ABOVE 2360 SL 2339 TGT 2393/2430
BUY APTECH ABOVE 166 SL 161.90 TGT 171/178/182
BUY ACC ABOVE 765 SL 754 TGT 778/784/792
BUY STER ABOVE 574 SL 564 TGT 584/600
SELL SUNPHARMA BELOW 1360 SL 1375 TGT 1330/1315/1300
SELL HDFC BELOW 2315 SL 2331 TGT 2296/2285/2271
