GOOD MORNING!!!
MARKETS EXTENDED TUESDAYS STRONG GAINS TRACKING POSITIVE GLOBAL CUES. FINANCE MINISTER PRANAB MUKHERJEE'S STATEMENT ON TUESDAY THAT COUNTRY AIMS TO RETURN TO A PATH OF FISCAL PRUDENCE TO ENSURE MODERATE INTEREST RATES HAS FURTHER SOOTHED NERVES OF INVESTORS. HIGHER FISCAL DEFICIT HAD BEEN A MAJOR CAUSE OF CONCERN FOR THE INVESTORS. ASIAN STOCKS GAINED FOR A SECOND DAY YESTERDAY, LED BY TECNNOLOGY AND MINING COMPANIES. BANK STOCKS ROSE ON BARGAIN HUNTING AFTER A RECENT STEEP SLIDE TRIGGERED BY DISAPPOINTMENT IN THE BUDGET. CONTRARY TO MARKET EXPECTATIONS, THE GOVERNMENT DID NOT ANNOUNCE FINANCIAL SECTOR REFORMS IN THE BUDGET. MARKET EXPECTATIONS ON FINANCIAL SECTOR REFORMS WERE HIGH. THE GOVERNMENT'S ANNUAL ECONOMIC SURVEY RELEASED AHEAD OF THE BUDGET HAD CALLED FOR A PHASED INCREASE IN THE FOREIGN DIRECT INVESTMENT LIMIT IN BANKS. YESTERDAY WE HAVE SEEN CAPITAL GOODS, AUTO, OIL & GAS, POWER, INFRASTRUCTURE ARE THE TOP GAINERS
TODAY MARKET WOULD OPEN GAP UP AND MAY TOUCH 4300 IF NIFTY MANAGES TO TRADES ABOVE 4256 THEN NIFTY WOULD TOUCH 4339 IN TODAYS TRADE AND ANYTHING CLOSE ABOVE THIS LEVEL THEN MARKET WOULD TAKE NIFTY TO 4387 AT THIS LEVEL MAY SEE GOOD RESISTANCE. FOR NOW MARKET IS LOOKING VERY BULLISH AND GLOBAL QUES ARE SUPPORTING ITS AGGRESSIVE MOVE TOWARDS NORTH. ON THE NEGATIVE SIDE NIFTY ONLY BELOW 4212 MAY COME DOWN TO 4173 ONE CAN SEE SOME DOWN TREND ONLY BELOW 4173 ELSE IT’S A LITTLE RETRACEMENT WHERE ONE SHOULD AVOID SHORTING, IT IS ADVICEBLE TO STAY WITH THE TREND TILL NIFTY BREACHES 4173 LEVELS.
BUY RELIANCE CAPITAL SL 810 TGT 835
BUY RECL SL 175 TGT 183.5
BUY WELSPUN SL 201.9 TGT 209/212/215
BUY ISPAT SL 19.3 TGT 20.5/21.2/21.7/22.3
BUY ESSAR OIL SL 130 TGT 142/146/152
BUY RELIANCE ENERGY SL 1089 TGT 1130/1158/1167
BUY RELIANCE SL 1867 TGT 1909/1932
TODAY MARKET WOULD OPEN GAP UP AND MAY TOUCH 4300 IF NIFTY MANAGES TO TRADES ABOVE 4256 THEN NIFTY WOULD TOUCH 4339 IN TODAYS TRADE AND ANYTHING CLOSE ABOVE THIS LEVEL THEN MARKET WOULD TAKE NIFTY TO 4387 AT THIS LEVEL MAY SEE GOOD RESISTANCE. FOR NOW MARKET IS LOOKING VERY BULLISH AND GLOBAL QUES ARE SUPPORTING ITS AGGRESSIVE MOVE TOWARDS NORTH. ON THE NEGATIVE SIDE NIFTY ONLY BELOW 4212 MAY COME DOWN TO 4173 ONE CAN SEE SOME DOWN TREND ONLY BELOW 4173 ELSE IT’S A LITTLE RETRACEMENT WHERE ONE SHOULD AVOID SHORTING, IT IS ADVICEBLE TO STAY WITH THE TREND TILL NIFTY BREACHES 4173 LEVELS.
BUY RELIANCE CAPITAL SL 810 TGT 835
BUY RECL SL 175 TGT 183.5
BUY WELSPUN SL 201.9 TGT 209/212/215
BUY ISPAT SL 19.3 TGT 20.5/21.2/21.7/22.3
BUY ESSAR OIL SL 130 TGT 142/146/152
BUY RELIANCE ENERGY SL 1089 TGT 1130/1158/1167
BUY RELIANCE SL 1867 TGT 1909/1932
