GOOD MORNING!!!
INDICES TURNED HIGHLY VOLATILE IN THE AFTERNOON SESSION AFTER A SEE SAW MOVEMENT BEFORE AFTERNOON SESSION AND COULD NOT REGAIN STRENGTH AT ANYPOINT OF THE DAY IN THE SECOND HALF OF THE TRADING, WE HAVE SEEN SOME SELL OFF EVEN IN YESTERDAYS TRADE. IN THE LAST WEEK FII'S WERE THE MAJOR SELLERS IN THE MARKET. INFLATION BASED ON THE WHOLESALE PRICE INDEX REMAINED IN THE NEGATIVE ZONE FOR THE SECOND WEEK IN A ROW. INFATION BASED ON THE WHOLESALE PRICE INDEX DECLINED 1.14% IN THE YEAR THROUGH 13 JUNE 2009 GOVERNMENT DATA RELEASED LAST DAY SHOWED. THE DECLINE WAS, SMALLER THAN A 1.61% FALL IN THE YEAR THROUGH 6 JUNE 2009. INFLATION HAD DIPPED TO NEGATIVE IN EARLY JUNE 2009 FOR THE FIRST TIME SINCE 1977-78. NIFTY ROLLOVER FROM JUNE TO JULY SERIES STOOD AT 41% WHILE STOCK FUTURES ROLLOVER OF POSIITONS WAS 52%.
MARKETS TODAY AFTER THE SETTLEMENT OF THE JUNE CONTRACT MAY OPEN FIRM AS GLOBAL CUES ARE POSITIVE, THOUGH MARKETS STRUCTURALLY LOOKS POSITVE, SENTIMENT REMAINS NEGATIVE IN TERMS OF TECHNICALS UNLESS AND UNTILL MARKET CROSSES 4320 ONE CANNOT AFFORD TO BE IN BUY BASED ON GLOBAL NEWS. TODAY IF NIFTY TRADES ABOVE 4320 WE CAN EXPECTED MARKET TO REMAIN IN POSITIVE ZONE AND IF IT CLOSES ABOVE THEN ONE CAN TAKE POSTIONS TO SEE HIGHER HIGH IN THE MARKET, WE CAN SEE NIFTY TO BREACH RECENT HIGHS. IF NIFTY TRADES ABOVE 4270 WE CAN SEE NIFTY TO FACE RESISTANCE AT 4320 AND IF IT HAPPENS TO BREAK AND TRADE ABOVE IT THEN WE CAN SEE NIFTY TO GO UPTO 4350. ON THE DOWN SIDE IF NIFTY BREAKS 4215 THEN NIFTY WILL FACE SUPPORT AT 4175 AND IF NIFTY BREACHES 4175 THEN WE CAN SEE FURTHER DOWNSIDE IN THE NIFTY AND CLOSE BELOW 4175 WE CAN SEE NIFTY AT 4050. TODAY PHARMA STOCKS ARE GOOD FOR TRADING.
FEW SCRIPS ONE HAS TO TAKE POSITIONS FOR TWO WEEKS TO MINT AND PRINT MONEY ARE BHEL, LT, GVKPIL, JAIN IRRIGATION, RECL, NTPC, PTC, CHAMBAL FERTILIZERS AND IDFC. I WOULD ADVICE YOU TO BUY FERTILIZER STOCKS, POWER STOCKS AND INFRASTRUCTURE STOCKS FOR GOOD GAINS.
BUY BIOCON ABOVE 228 SL 219 TGT 238/244/248
BUY SUZLON ABOVE 119 SL 117 TGT 124/127.50
BUY INDIAINFO ABOVE 122 SL 119 TGT 126/129/133
BUY HINDALCO ABOVE 86 SL 84 TGT 88/93/SHORT TERM (106)
SELL BPCL BELOW 416 SL 419.4 TGT 409/406
