GOOD MORNING!!!
FIRM GLOBAL MARKETS AND FORECAST OF INCREASE IN RAINS IN THE COMING DAYS BOOSTED THE DOMESTIC BOURSES. INDEX HEAVYWEIGHT RELIANCE INDUSTRIES SURGED AFTER A RECENT SHARP FALL. THE MARKET BREADTH, INDICATING THE OVERALL HEALTH OF THE MARKET, WAS STRONG. EQUITIES RECOVERED TODAY AFTER A RECENT STEEP SLIDE.
ON THE POSITIVE SIDE:
FINANCE MINISTER PRANAB MUKHERJEE TODAY, 14 JULY 2009, SAID THE ECONOMY IS SHOWING SIGNS OF RECOVERY.
INDIAN METEOROLOGICAL DEPARTMENT'S FORECAST THAT RAINS WILL INTENSIFY IN THE COMING DAYS BOOSTED SENTIMENT AMONG STOCK MARKET INVESTORS.
SHORT COVERINGS MAY COME IN AFTER CROSSING 4200 LEVELS IN NIFTY.
AND ON THE NEGATIVE SIDE:
THE MARKET EXPECTATIONS ARE THAT IN Q1 JUNE 2009, THE 30 STOCKS THAT COMPRISE MUMBAI'S BENCHMARK SENSEX INDEX COULD SEE AN ANNUAL FALL IN SALES OF 4-8% AND FALL IN PROFIT AT BETWEEN 9-13%.
TODAY MARKETS LOOK VOLATILE WITH POSITIVE BIAS. IF NIFTY CROSSES 4149 THEN IT WILL FIND ITS WAY IMMEDIATELY TO 4187 AND IF MANAGES TO STAY ABOVE THIS LEVEL THEN WE CAN SEE NIFTY TO REACH 4228 AND 4264-4290. CLOSE ABOVE 4187 IS CONSIDERED TO BE A BULLISH SIGN AND ONE CAN CONTINUE TO HOLD LONGS STRONGLY WITHOUT HEDGING. AND IF NIFTY FAILS TO CROSS 4150 AND MANAGES TO DROP DOWN TO 4079 THEN WE CAN SEE NIFTY TO GET WEAK AND ONE CAN CONTINUE TO REMAIN SHORT IF NIFTY COMES DOWN TO 4079 AND IF NIFTY CLOSES BELOW 4079 THEN ONE CAN EXIT THEIR LONGS TO THE MAXIMUM AND RETAIN SOME PUTS IN THEIR PORTFOLIO. WATCH OUT FOR INFRASTRUCTURE & CEMENTS
BUY RELINFRA SL 1013 TGT 1088/1120/1160
BUY RELCAP SL 782 TGT 807/814/834
BUY HDFC SL 2354 TGT 2421/2458
BUY DLF SL 295 TGT 307/318/326
BUY MIC ELECTRONICS SL 30 TGT 39/43 (FOR TWO DAYS)
FIRM GLOBAL MARKETS AND FORECAST OF INCREASE IN RAINS IN THE COMING DAYS BOOSTED THE DOMESTIC BOURSES. INDEX HEAVYWEIGHT RELIANCE INDUSTRIES SURGED AFTER A RECENT SHARP FALL. THE MARKET BREADTH, INDICATING THE OVERALL HEALTH OF THE MARKET, WAS STRONG. EQUITIES RECOVERED TODAY AFTER A RECENT STEEP SLIDE.
ON THE POSITIVE SIDE:
FINANCE MINISTER PRANAB MUKHERJEE TODAY, 14 JULY 2009, SAID THE ECONOMY IS SHOWING SIGNS OF RECOVERY.
INDIAN METEOROLOGICAL DEPARTMENT'S FORECAST THAT RAINS WILL INTENSIFY IN THE COMING DAYS BOOSTED SENTIMENT AMONG STOCK MARKET INVESTORS.
SHORT COVERINGS MAY COME IN AFTER CROSSING 4200 LEVELS IN NIFTY.
AND ON THE NEGATIVE SIDE:
THE MARKET EXPECTATIONS ARE THAT IN Q1 JUNE 2009, THE 30 STOCKS THAT COMPRISE MUMBAI'S BENCHMARK SENSEX INDEX COULD SEE AN ANNUAL FALL IN SALES OF 4-8% AND FALL IN PROFIT AT BETWEEN 9-13%.
TODAY MARKETS LOOK VOLATILE WITH POSITIVE BIAS. IF NIFTY CROSSES 4149 THEN IT WILL FIND ITS WAY IMMEDIATELY TO 4187 AND IF MANAGES TO STAY ABOVE THIS LEVEL THEN WE CAN SEE NIFTY TO REACH 4228 AND 4264-4290. CLOSE ABOVE 4187 IS CONSIDERED TO BE A BULLISH SIGN AND ONE CAN CONTINUE TO HOLD LONGS STRONGLY WITHOUT HEDGING. AND IF NIFTY FAILS TO CROSS 4150 AND MANAGES TO DROP DOWN TO 4079 THEN WE CAN SEE NIFTY TO GET WEAK AND ONE CAN CONTINUE TO REMAIN SHORT IF NIFTY COMES DOWN TO 4079 AND IF NIFTY CLOSES BELOW 4079 THEN ONE CAN EXIT THEIR LONGS TO THE MAXIMUM AND RETAIN SOME PUTS IN THEIR PORTFOLIO. WATCH OUT FOR INFRASTRUCTURE & CEMENTS
BUY RELINFRA SL 1013 TGT 1088/1120/1160
BUY RELCAP SL 782 TGT 807/814/834
BUY HDFC SL 2354 TGT 2421/2458
BUY DLF SL 295 TGT 307/318/326
BUY MIC ELECTRONICS SL 30 TGT 39/43 (FOR TWO DAYS)
