GOOD MORNING!!!
THE KEY BENCHMARK INDICES CLOSED FLAT AFTER MOVING BETWEEN POSITIVEAND NEGATIVE TERRAIN THROUGHOUT THE DAY IN WHAT WAS A VOLATILETRADING SESSION THE MARKET WAS VOLATILE. STOCKS EDGED HIGHER IN EARLY VOLATILETRADE AFTER THE INTERNATIONAL MONETARY FUND REVISED UPWARDS INDIA'SGROWTH PROJECTION BY 0.9% FOR 2009 AND 2010. BUT THE MARKET SLIPPEDINTO THE RED IN MID-MORNING TRADE ON CONCERNS OVER PROGRESS OFINDIA'S ANNUAL MONSOON AND WORRIES OVER A POSSIBLE DOWNGRADE OF THECOUNTRY'S SOVEREIGN RATING BY RATING AGENCIES DUE TO HIGH FISCALDEFICIT.. THE MARKET CUT ENTIRE LOSSES IN EARLY AFTERNOON TRADE SOON AFTERGOVERNMENT DATA SHOWED HEADLINE INFLATION HOVERING THE NEGATIVEZONE FOR A FOURTH CONSECUTIVE WEEK. THE MARKET ONCE AGAIN SLIPPEDINTO THE RED IN EARLY AFTERNOON TRADE BEFORE REGAINING POSITIVEZONE.
TODAY NIFTY TO TRADE IN NEGATIVE BIAS AND MARKET BREADTH IS VERY NEGATIVE AND MAY CONTINUE TO REAMAIN NEGATIVE TILL THE LEVELS INDICATED ARE BREACHED. IF NIFTY TRADES BELOW 4029 THEN ONE CAN EXPECT IT TO IMMEDIATELY TAKE SUPPORT AT 3989 AND THEN IF BREACHED AND TRADES THEN ONE CAN EXPECT IT TO TAKE NIFTY TO 3890. AND ON THE UPSIDE ONLY ABOVE 4152 ONE CAN SEE UPSIDE MOVE SO STAY CAUTIOUS ON THE LONG SIDE.
SELL HDFC SL 2335 TGT 2240/2180
TODAY NIFTY TO TRADE IN NEGATIVE BIAS AND MARKET BREADTH IS VERY NEGATIVE AND MAY CONTINUE TO REAMAIN NEGATIVE TILL THE LEVELS INDICATED ARE BREACHED. IF NIFTY TRADES BELOW 4029 THEN ONE CAN EXPECT IT TO IMMEDIATELY TAKE SUPPORT AT 3989 AND THEN IF BREACHED AND TRADES THEN ONE CAN EXPECT IT TO TAKE NIFTY TO 3890. AND ON THE UPSIDE ONLY ABOVE 4152 ONE CAN SEE UPSIDE MOVE SO STAY CAUTIOUS ON THE LONG SIDE.
SELL HDFC SL 2335 TGT 2240/2180
