KEY BENCHMARK INDICES FELL IN VOLATILE TRADE AS PROFIT BOOKING EMERGED AFTER A RECENT SOLID SURGE. IT, REALTY AND POWER STOCKS FELL, SOME METAL STOCKS ROSE AFTER TATA STEEL RAISED $500 MILLION FROM AN ISSUE OF GLOBAL DEPOSITORY RECEIPTS. THE MARKET WAS VERY VOLATILE. PROFIT TAKING PULLED THE KEY BENCHMARK INDICES LOWER AFTER A HIGHER START TRIGGERED BY FIRM GLOBAL MARKETS. THE MARKET CUT LOSSES IN MID-MORNING TRADE. HOWEVER, THE INTRADAY RECOVERY PROVED SHORT LIVED AND THE MARKET LOST GROUND AGAIN IN EARLY AFTERNOON TRADE. MARKET LOOKS TO BE CONSOLIDATED BREAK ON EITHER SIDE WILL SHOW THE DIRECTION OF THE TREND IN THE NEAR TERM. WEAK MANSOON HAS LET THE SENTIMENT LITTLE WEAK.
TODAY MARKET WOULD BE VOLATILE AND WOULD BE RANGE BOUND. MARKET STRUCTURALLY STILL REMAINS STRONG BUT I WOULD SUGGEST YOU TO INITIATE LONG ONLY WHEN MARKET CLOSES ABOVE 4550 TILLTHEN ONE CAN STAY SHORT WITH STOPLOSS OF 4550 IF MARKET CLOSES ABOVE THIS LEVEL THEN ONE CAN SEE MARKET TO RACE ANOTHER 300 TO 400 POINTS FROM THERE IN NIFTY. TODAY IF NIFTY BREACHES 4500 AND TRADES THEN WE CAN SEE A STRONG RESISTANCE AT 4547 AND ON THE NEGATIVE SIDE IF NIFTY BREACHES 4440 AND TRADES BELOW THAT LEVEL THEN ONE CAN SEE MARKET TO TAKE SUPPORT AT 4365. IF MARKET CLOSES BELOW 4365 ONE CAN EXIT ALL THEIR LONG POSITIONS AND STAY SHORT.
BUY ANANTRAJ SL 108 TGT 122/127
BUY AXIS BANK 890 SL 877 TGT 908/927
BUY SRF SL 118 TGT 125/127
BUY DCHL ABOVE 82 SL 79 TGT 89/92/96
BUY ADLABS FILMS SL 337 TGT 351/357
BUY DRREDDY ABOVE 797 SL 789 TGT 805/815
SELL BHEL BELOW 2215 SL 2226 TGT 2204/2184/2150
SELL BHARTI BELOW 837.9 SL 846 TGT 820/800
DELIVERY CALL
BUY TULSYAN TGT 85 (MEDIUM TERM IN SMALL QTY)
TODAY MARKET WOULD BE VOLATILE AND WOULD BE RANGE BOUND. MARKET STRUCTURALLY STILL REMAINS STRONG BUT I WOULD SUGGEST YOU TO INITIATE LONG ONLY WHEN MARKET CLOSES ABOVE 4550 TILLTHEN ONE CAN STAY SHORT WITH STOPLOSS OF 4550 IF MARKET CLOSES ABOVE THIS LEVEL THEN ONE CAN SEE MARKET TO RACE ANOTHER 300 TO 400 POINTS FROM THERE IN NIFTY. TODAY IF NIFTY BREACHES 4500 AND TRADES THEN WE CAN SEE A STRONG RESISTANCE AT 4547 AND ON THE NEGATIVE SIDE IF NIFTY BREACHES 4440 AND TRADES BELOW THAT LEVEL THEN ONE CAN SEE MARKET TO TAKE SUPPORT AT 4365. IF MARKET CLOSES BELOW 4365 ONE CAN EXIT ALL THEIR LONG POSITIONS AND STAY SHORT.
BUY ANANTRAJ SL 108 TGT 122/127
BUY AXIS BANK 890 SL 877 TGT 908/927
BUY SRF SL 118 TGT 125/127
BUY DCHL ABOVE 82 SL 79 TGT 89/92/96
BUY ADLABS FILMS SL 337 TGT 351/357
BUY DRREDDY ABOVE 797 SL 789 TGT 805/815
SELL BHEL BELOW 2215 SL 2226 TGT 2204/2184/2150
SELL BHARTI BELOW 837.9 SL 846 TGT 820/800
DELIVERY CALL
BUY TULSYAN TGT 85 (MEDIUM TERM IN SMALL QTY)
