KEY BENCHMARK INDICES ROSE FOR THE THIRD DAY AFTER RAILWAY MINISTER HAS PRESENTED THE BUDGET WITH THE INCULSION TO IMPROVE INFRASTRUCTURE FACILITIES ACROSS THE COUNTRY IN THE BUDGET, MARKET FROM NEGATIVE BREADTH SWUNG INTO POSITIVE TERRITORY. THERE WAS GOOD NUMBER OF SHORT COVERING WHICH TOOK PLACE ON FRIDAY WHICH INDICATES THAT EXPECTATIONS TOWARDS BUDGET ARE STILL POSITIVE THOUGH THE RATING TOWARDS IT WAS AVERAGE TO BELOW AVERAGE. WE EXPECT THIS POSITIVE MOVE MAY TRIGGER ANOTHER 700 POINTS IN NIFTY PROVIDED UNION BUDGET IS WITHIN THE EXPECATATIONS OR ANY UNPRECEDENTED GOOD NEWS IN THE BUDGET ELSE MARKET MAY GO DOWN BY 700 POINTS IF THERE IS ANY UNPRECEDENTED NEWS ON THE NEGATIVE SIDE SO HEDGE YOUR POSITIONS INITIALLY TILL BUDGET LATER YOU CAN DEFINITELY KNOW THE DIRECTION OF THE MARKET AND WOULD REMAIN IN THE SAME DIRECTION FOR ENTIRE NEXT WEEK WITHOUT ANY RETRACEMENT OR PROFIT BOOKING. TRADE AND INVEST WISELY.
TODAY, MARKET WOULD OPEN IN POSITIVE AND WOULD BE HIGHLY VOLATILE TILL BUDGET IS PRESENTED. IF NIFTY TRADES ABOVE 4430 THEN WE CAN SEE NIFTY AT 4483 AND IF BREACHED THIS LEVEL WILL TAKE NIFTY TO 4537 AND THEN 4567 IN TODAYS TRADE AND IF NIFTY BREAKS BELOW 4382 THEN IT WILL COME DOWN TO 4329 AND THEN 4282 AND IF NIFTY TRADES BELOW 4280 FOR FEW MINUTES THEN CAN SEE NIFTY AT 4229. MARKET STRUCTURALLY VERY STRONG AND SEEMS WITH A LITTLE POSITIVE IMPACT MAY TRIGGER NIFTY TO 4800-5000 LEVELS IN A VERY SHORT SPAN OF TIME.
BUY DLF ABOVE 335 SL 329 TGT 343/353
BUY HDFC ABOVE 2580 SL 2559 TGT 2620/2648/2699
BUY IDFC ABOVE 145 SL 142.40 TGT 149/155
BUY NTPC ABOVE 206 SL 200.90 TGT 209/211/221
BUY RELINFRA ABOVE 1290 SL 1274 TGT 1320/1348
BUY CIPLA ABOVE 260 SL 257 TGT 267/271/274
BUY WIPRO ABOVE 385 SL 381 TGT 391/397.
