THE KEY BENCHMARK INDICES PARED GAINS AFTER SURGING TO FRESH DAY'S HIGH. AUTO, IT, AND BANKING STOCKS LED THE RALLY. FIRM GLOBAL MARKETS BOOSTED SENTIMENT. FINANCE SECRETARY ASHOK CHAWLA'S COMMENTS THAT THE GOVERNMENT'S RECORD MARKET BORROWING PROGRAMME WOULD NOT PRESSURE BOND YIELDS AND INTEREST RATES FURTHER BOLSTERED BULLS. REVIVAL OF THE ANNUAL MONSOON THIS MONTH ALSO UNDERPINNED SENTIMENT. INDIA'S MONSOON HAS REVIVED THIS MONTH AFTER A DISMAL START LAST MONTH. RAINFALL IN THE WEEK TO 10 JULY WAS 6% MORE THAN THE LONG-TERM AVERAGE. FOR THE 1 JUNE-15 JULY PERIOD IT WAS 27% BELOW NORMAL, IMPROVING FROM A DEFICIT OF 36% UP TO 8 JULY. THE MARKET BREADTH, INDICATING THE OVERALL HEALTH OF THE MARKET, IS STRONG, WE WOULD ADVICE YOU TO STAY CAUTIOUS ON THIS VERY FAST MOVE FROM 3905 TO 4399 WHICH IS ALMOST 500 POINTS NON-STOP RALLY UNLESS OTHERWISE NIFTY STAYS ABOVE 4440 AND CLOSES ONE CAN EXIT THEIR LONG POSITIONS ON CLOSING IF NIFTY DOES NOT CLOSE ABOVE 4440 LEVELS AS MARKET SHOULD CONSOLIDATE ON THIS FIRM MOVE, TO MOVE FURTHER UPSIDE OR DOWNSIDE SO IN THIS CONSOLIDATION PHASE ONE SHOULD EXIT AND WATCH THE SHOW UNTIL THE LEVELS SPECIFIED BELOW ARE CROSSED.
TODAY MARKET WOULD OPEN IN POSITIVE AND MAY HIT A TARGET OF 4440 ON THE UPSIDE AND IF NIFTY MANAGES TO STAY ABOVE 4440 THEN ONE CAN SEE NIFTY AT 4550 LEVELS AND IT IS EVIDENT THAT MARKET WOULD COME DOWN BY ATLEAST 200 POINTS AFTER IT TRADES BELOW ANY OF THE LEVEL SPECIFIED. ONE IS ADVICED NOT TO SHORT ANYWHERE OTHER THAN SPECIFIED LEVELS. AND TODAY IF NIFTY TRADES BELOW 4380 THEN WE CAN SEE NIFTY AT 4344 AND IF NIFTY CLOSES BELOW 4344 THEN ONE CAN SEE NIFTY IMMEDIATELY AT 4280 LEVELS. ONE IS ADVICED TO STAY VERY CAUTIOUS IN THE MARKET WITH STRICT STOPLOSS.
BUY M&M SL 774 TGT 790/815
BUY RELIANCECAP SL 854 TGT 885/900
BUY HCL TECH 212 SL 209 TGT 218/221.8
3I INFOTECH SL 69 TGT 77/80
EVERONN SYS SL 352 TGT 369/376
MOSER BAER SL 74 TGT 80/82
UNITECH SL 74 TGT 80/82
POSITIONAL
AXIS IT&T 24 (BUY IT WITHOUT STOPLOSS FOR A TARGET OF 45/70/100)*** MUST BUY
BUY ESSAR OIL TGT 153/166/175/183/189 **
GTL INFRA 34 TGT 48*
BUY SAKTHI SUGARS TGT 67
BUY MLL TGT 63/67/69
BUY INDIAN HOTELS TGT 69/74
*** VERY STONG **STRONG *GOOD
TODAY MARKET WOULD OPEN IN POSITIVE AND MAY HIT A TARGET OF 4440 ON THE UPSIDE AND IF NIFTY MANAGES TO STAY ABOVE 4440 THEN ONE CAN SEE NIFTY AT 4550 LEVELS AND IT IS EVIDENT THAT MARKET WOULD COME DOWN BY ATLEAST 200 POINTS AFTER IT TRADES BELOW ANY OF THE LEVEL SPECIFIED. ONE IS ADVICED NOT TO SHORT ANYWHERE OTHER THAN SPECIFIED LEVELS. AND TODAY IF NIFTY TRADES BELOW 4380 THEN WE CAN SEE NIFTY AT 4344 AND IF NIFTY CLOSES BELOW 4344 THEN ONE CAN SEE NIFTY IMMEDIATELY AT 4280 LEVELS. ONE IS ADVICED TO STAY VERY CAUTIOUS IN THE MARKET WITH STRICT STOPLOSS.
BUY M&M SL 774 TGT 790/815
BUY RELIANCECAP SL 854 TGT 885/900
BUY HCL TECH 212 SL 209 TGT 218/221.8
3I INFOTECH SL 69 TGT 77/80
EVERONN SYS SL 352 TGT 369/376
MOSER BAER SL 74 TGT 80/82
UNITECH SL 74 TGT 80/82
POSITIONAL
AXIS IT&T 24 (BUY IT WITHOUT STOPLOSS FOR A TARGET OF 45/70/100)*** MUST BUY
BUY ESSAR OIL TGT 153/166/175/183/189 **
GTL INFRA 34 TGT 48*
BUY SAKTHI SUGARS TGT 67
BUY MLL TGT 63/67/69
BUY INDIAN HOTELS TGT 69/74
*** VERY STONG **STRONG *GOOD
