GOOD MORNING!!!

THE KEY BENCHMARK INDICES SLUMPED AFTER THE GLOBAL RATING AGENCY STANDARD & POOR'S SAID THERE IS RISK THAT ITS SOVERIEGN CREDIT RATINGS ON INDIA MAY BE LOWERED. WEAK GLOBAL STOCKS ALSO DEAMPENED INVESTORS SENTIMANET. BANKING, METAL, CAPITAL GOODS AND REALITY STOCK LED THE FALL. INDEX HEAVYWEIGHT RELIANCE INDUSTRIES DROPPED IN VOLATILE TRADE. THE BREADTH OF THE MARKET WAS VERY WEAK. THE MARKET CUT LOSSES IN MID-MORNING TRADE ON MEDIA REPOSTS THAT THE GOVERNMENT WILL HAVE ADISINVESTMENT ROAD MAP IN PLACE IN ABOUT THREE MONTHS TO BRIDGE THE HIGH FISCAL DEFICIT. INTRADAY RECOVERY GATHERED FURTHER STEAM IN AFTERNOON TRADE AFTER PLANNING COMMISSION DEPUTY CHAIRMAN MONTEK SINGH AHLUWALIA SAID THE GOVERNMENT'S 2009/2010 BUDGET WAS PRO-GROWTH AND ADDRESSED THE STIMULS NEEDS OF THE ECONOMY DESPITE OF NEWS LIKE THESE MARKET COULDNT SUSTAIN ITS RECOVERY AND THE RECOVERY WAS VERY SHORT LIVED AND THE MARKET SLUMPED IN THE LATE TRADE.

TODAY MARKET WOULD BE VOLATILE MARKET IF TRADES ABOVE 4112 THEN WE MAY SEE RESISTANCE AROUND 4155 LEVELS AND BREAK BELOW 4023 MARKET MAY LEAD TO 3980 AND TRADING BELOW THIS LEVEL MARKET MAY COME DOWN TO 3891.

SELL RELIANCE CAPITAL BELOW 758 SL 771 TGT 740/733

SELL RELINFRA BELOW 1075 SL 1091 TGT 1035/1011/950(ULTIMATE TGT)

WHEN MARKET SLIDES SEE BUYING OPPORTUNITIES IN SESAGOA, NMDC, NTPC & MARUTI FOR INTRADAY.