INDICIES ENDED ALMOST UNCHANGED AFTER GYRATING EITHER SIDE THROUGHOUT THE DAY. GLOBAL CUES WERE POSITIVE WITH ASIAN AND EUROPEAN MARKETS TRADING HIGHER. THE MARKET OPENED ON A SUBDUED NOTE AS INDEX HEAVYWEIGHT RELIANCE INDUSTRIES (RIL) FELL ON WEAK Q1 JUNE 2009 RESULTS IT ANNOUNCED AFTER TRADING HOURS ON FRIDAY, 24 JULY 2009 WHICH WERE MUCH LOWER THAN THE STREET EXPECTATIONS . THE MARKET FIRMED UP SOON ON BUYING IN BANKING AND IT PIVOTALS. THE SENSEX HIT ITS HIGHEST LEVEL IN 1-1/2 MONTHS. HOWEVER, THE RALLY PROVED SHORT-LIVED. THE MARKET MAY REMAIN VOLATILE THIS WEEK AS INVESTORS ROLLOVER POSITIONS FROM JULY 2009 CONTACTS TO AUGUST 2009 CONTRACTS AHEAD OF EXPIRY OF JULY 2009 FUTURES AND OPTIONS (F&O) CONTRACT ON THURSDAY, 30 JULY 2009. ANNUAL MONSOON RAINS AFTER A SLUGGISH START. INDIA'S MONSOON RAINS WERE 15% ABOVE NORMAL IN THE WEEK TO 22 JULY 2009, THE SECOND CONSECUTIVE WEEK OF ABOVE-AVERAGE RAINFALL AFTER AN EXCEPTIONALLY DRY PATCH AT THE START OF THE SEASON.
TODAY MARKET WILL BE VOLATILE AND IT IS ADVISED TO ALL THE TRADERS TO BOOK PROFITS WHENEVER ONE CAN DON’T LOOK FOR BIG PROFITS IN THIS WEEK AHEAD OF EXPIRY. MARKET WOULD BE RANGE BOUND, HOWEVER MARKET IS LOOKING STRONG AND REMAINS TO BE ON THE POSITIVE NOTE AS LONG AS IT DOESN’T BREACH 4400 MARK. ONE IS ADVICED TO STAY AWAY TILL IT CROSSES 4600 AND TRADES ABOVE IT AND ONE CAN TAKE FRESH LONG POSITIONS ONLY WHEN MARKET CLOSES ABOVE 4650 TILL THEN IT MAY BE RISKY BET TO GO LONG IN THIS CONDITIONS. IF NIFTY CROSSES 4610 THEN MAY GO UP TO 4640 AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 4570 THEN YOU CAN SEE NIFTY TO COME TO 4557 AND THEN TO 4526 AND MAY SEE A BOUNCE ON REACHING THIS LEVELS SO ONE HAS TO TAKE CAUTIOUS TRADES ON THESE LEVELS AND ONE IS ADVICED TO BOOK SMALL PROFITS FOR THIS WEEK BY TRAILING YOUR STOPLOSSES.
TODAY MARKET WILL BE VOLATILE AND IT IS ADVISED TO ALL THE TRADERS TO BOOK PROFITS WHENEVER ONE CAN DON’T LOOK FOR BIG PROFITS IN THIS WEEK AHEAD OF EXPIRY. MARKET WOULD BE RANGE BOUND, HOWEVER MARKET IS LOOKING STRONG AND REMAINS TO BE ON THE POSITIVE NOTE AS LONG AS IT DOESN’T BREACH 4400 MARK. ONE IS ADVICED TO STAY AWAY TILL IT CROSSES 4600 AND TRADES ABOVE IT AND ONE CAN TAKE FRESH LONG POSITIONS ONLY WHEN MARKET CLOSES ABOVE 4650 TILL THEN IT MAY BE RISKY BET TO GO LONG IN THIS CONDITIONS. IF NIFTY CROSSES 4610 THEN MAY GO UP TO 4640 AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 4570 THEN YOU CAN SEE NIFTY TO COME TO 4557 AND THEN TO 4526 AND MAY SEE A BOUNCE ON REACHING THIS LEVELS SO ONE HAS TO TAKE CAUTIOUS TRADES ON THESE LEVELS AND ONE IS ADVICED TO BOOK SMALL PROFITS FOR THIS WEEK BY TRAILING YOUR STOPLOSSES.
BUY IDFC ABOVE 136 SL 134.5 TGT 138/140
BUY TATA MOTORS SL 372 TGT 390/397
BUY SRF SL 141 TGT 148/150
SELL TATA POWER BELOW 1250 SL 1261 TGT 1220/1200
SELL HINDUNILVR SL 301.7 TGT 296.6/294.75
SELL ONGC 1098 SL 1110 TGT 1084
POSTIONAL
BUY EDSERV TGT 100/150 (MEDIUM TERM)
SELL TATA POWER BELOW 1250 SL 1261 TGT 1220/1200
SELL HINDUNILVR SL 301.7 TGT 296.6/294.75
SELL ONGC 1098 SL 1110 TGT 1084
POSTIONAL
BUY EDSERV TGT 100/150 (MEDIUM TERM)
