GOOD MORNING!!!
KEY BENCHMARK INDICES SURGED, EXTENDING THE GAINING MOMENTUM AFTER AN ENCOURAGING Q1 JUNE 2009 RESULTS, SIGNS OF PICK UP IN THE ECONOMY, REVIVAL OF MONSOON AND FIRM GLOBAL MARKETS, LIFTED SENTIMENT INDEX LAST DAY STRUCK ITS HIGHEST LEVEL IN MORE THAN A MONTH. BUT VOLATILITY REMAINED VERY HIGH. AUTO, REALTY AND METAL SHARES LOGGED SMART GAINS. BANKING SHARES WERE SUBDUED AHEAD OF THE RESERVE BANK OF INDIA'S (RBI) QUARTERLY MONETARY POLICY REVIEW MEET ON TUESDAY, 28 JULY 2009.
KEY BENCHMARK INDICES SURGED, EXTENDING THE GAINING MOMENTUM AFTER AN ENCOURAGING Q1 JUNE 2009 RESULTS, SIGNS OF PICK UP IN THE ECONOMY, REVIVAL OF MONSOON AND FIRM GLOBAL MARKETS, LIFTED SENTIMENT INDEX LAST DAY STRUCK ITS HIGHEST LEVEL IN MORE THAN A MONTH. BUT VOLATILITY REMAINED VERY HIGH. AUTO, REALTY AND METAL SHARES LOGGED SMART GAINS. BANKING SHARES WERE SUBDUED AHEAD OF THE RESERVE BANK OF INDIA'S (RBI) QUARTERLY MONETARY POLICY REVIEW MEET ON TUESDAY, 28 JULY 2009.
MARKET TODAY IS EXPECTED TO REMAIN VOLATILE ONE HAS TO LOOK FOR RELIANCE STOCK AS RESULTS OF RELIANCE WERE DISAPPOINTING AND WERE BELOW THE STREET EXPECTATIONS, MARKET MAY SHOW A REAL TREND FROM TOMORROW FOR TODAY WE MAY SEE VOLATILE SESSION WITH STOCK SPECIFIC MOVES. THE BREADTH OF THE MARKET STILL REMAINS VERY STRONG AND AT A CRUCIAL PHASE OF RESISTANCE ONE IS ADVISED TO STAY AWAY FROM INITIATING LONGS AT THIS LEVELS ONE CAN HOLD POSITIONAL LONGS. FRESH ENTRY INTO LONGS MAY BE INITIATED IF MARKETS CLOSES ABOVE 4650. IF NIFTY TRADES ABOVE 4583 THEN NIFTY MAY MOVE UP TO 4673 AND CLOSE ABOVE 4650 ONE CAN STAY LONG AND CARRY POSITIONS AND ON THE NEGATIVE SIDE IF MARKET TRADES BELOW 4547 THEN ONE CAN SEE NIFTY TO SLIDE DOWN TO 4500 AND CLOSE BELOW 4493 ONE CAN REMAIN SHORT OVERNIGHT.
BUY JPASSOCIATES SL 235 TGT 247/250
BUY OMAXE SL 96 TGT 106/109
BUY NTPC SL 208 TGT 218/222
BUY RANBAXY SL 274 TGT 286/290
BUY IDFC SL 129 TGT 135/138 (ONE CAN HOLD POSITIONALLY FOR A TARGET OF 200)
BUY ANDHRA BANK SL 87 TGT 92/94
