GOOD MORNING!!!
THE KEY BENCHMARK INDICES PARED GAINS IN AFTERNOON TRADE AS INDEX HEAVYWEIGHT RELIANCE INDUSTRIES FELL. IT, REALTY, CEMENT, CONSTRUCTION, POWER STOCKS ROSE. INDIA'S BIGGEST BANK IN TERMS OF BRANCH NETWORK STATE BANK OF INDIA (SBI) ROSE AFTER GOOD Q1 RESULT. FIRM GLOBAL STOCKS SUPPORTED DOMESTIC MARKET. THE MARKET BREADTH WAS POSITIVE. VOLATILITY WAS HIGH AS TRADERS ROLLED OVER POSITIONS FROM JULY 2009 CONTRACTS TO AUGUST 2009 CONTRACTS IN THE FUTURES & OPTIONS SEGMENT AHEAD OF THE EXPIRY OF JULY 2009 CONTRACTS TODAY, 30 JULY 2009. ROLLOVER OF NIFTY POSITIONS FROM JULY 2009 CONTRACTS TO AUGUST 2009 CONTRACTS WAS ABOUT 60% AT THE END OF WEDNESDAY'S (29 JULY 2009) TRADING. ROLLOVER IN MINI NIFTY FUTURES WAS ABOUT 43%. THE Q1 JUNE 2009 RESULTS ANNOUNCED SO FAR HAVE BEEN ENCOURAGING, WITH LOWER COSTS HELPING BOTTOMLINE GROWTH. THE COMBINED NET PROFIT OF 1357 COMPANIES ROSE 27% TO RS 61,979 CRORE ON 6.7% FALL IN SALES TO RS 5,65,811 CRORE IN Q1 JUNE 2009 OVER Q1 JUNE 2008.
TODAY MARKET LOOKS GREAT FOR LONGS ONE CAN REMAIN LONG AS LONG AS NIFTY IS ABOVE 4600 AND ONE HAS TO EXIT SHORT ABOVE 4650 AND CAN SEE NIFTY TO MOVE UPTO 5000 LEVELS IN THE VERY NEAR TERM IF NIFTY SUSTAINS ABOVE 4700 IT IS QUITE EVIDENT THAT MARKET WOULD SURPASS ALL THE RECENT HIGHS OF THE PAST. FOR INTRADAY IF MARKET CROSSES 4574 THEN IT IS QUITE EVIDENT THAT IT WILL TOUCH 4651 AND IF IT SUSTAINS ABOVE 4651 AND CLOSES THEN ONE CAN CARRY THEIR POSITIONS. ON THE NEGATIVE SIDE IF MARKET TRADES BELOW 4560 THEN ONE CAN GO SHORT WITH A STOPLOSS OF 4600 ONE CAN REMAIN SHORT AS LONG AS NIFTY IS BELOW 4600.
BUY SASKEN SL 115 TGT 125/130
BUY CAIRN SL 230 TGT 238/242
BUY ICSA SL 184 TGT 193/200
BUY M&M SL 840 TGT 870/881/900
BUY TATASTEEL SL 441 TGT 464/489
BUY IDFC SL 132 TGT 138/142
THE KEY BENCHMARK INDICES PARED GAINS IN AFTERNOON TRADE AS INDEX HEAVYWEIGHT RELIANCE INDUSTRIES FELL. IT, REALTY, CEMENT, CONSTRUCTION, POWER STOCKS ROSE. INDIA'S BIGGEST BANK IN TERMS OF BRANCH NETWORK STATE BANK OF INDIA (SBI) ROSE AFTER GOOD Q1 RESULT. FIRM GLOBAL STOCKS SUPPORTED DOMESTIC MARKET. THE MARKET BREADTH WAS POSITIVE. VOLATILITY WAS HIGH AS TRADERS ROLLED OVER POSITIONS FROM JULY 2009 CONTRACTS TO AUGUST 2009 CONTRACTS IN THE FUTURES & OPTIONS SEGMENT AHEAD OF THE EXPIRY OF JULY 2009 CONTRACTS TODAY, 30 JULY 2009. ROLLOVER OF NIFTY POSITIONS FROM JULY 2009 CONTRACTS TO AUGUST 2009 CONTRACTS WAS ABOUT 60% AT THE END OF WEDNESDAY'S (29 JULY 2009) TRADING. ROLLOVER IN MINI NIFTY FUTURES WAS ABOUT 43%. THE Q1 JUNE 2009 RESULTS ANNOUNCED SO FAR HAVE BEEN ENCOURAGING, WITH LOWER COSTS HELPING BOTTOMLINE GROWTH. THE COMBINED NET PROFIT OF 1357 COMPANIES ROSE 27% TO RS 61,979 CRORE ON 6.7% FALL IN SALES TO RS 5,65,811 CRORE IN Q1 JUNE 2009 OVER Q1 JUNE 2008.
TODAY MARKET LOOKS GREAT FOR LONGS ONE CAN REMAIN LONG AS LONG AS NIFTY IS ABOVE 4600 AND ONE HAS TO EXIT SHORT ABOVE 4650 AND CAN SEE NIFTY TO MOVE UPTO 5000 LEVELS IN THE VERY NEAR TERM IF NIFTY SUSTAINS ABOVE 4700 IT IS QUITE EVIDENT THAT MARKET WOULD SURPASS ALL THE RECENT HIGHS OF THE PAST. FOR INTRADAY IF MARKET CROSSES 4574 THEN IT IS QUITE EVIDENT THAT IT WILL TOUCH 4651 AND IF IT SUSTAINS ABOVE 4651 AND CLOSES THEN ONE CAN CARRY THEIR POSITIONS. ON THE NEGATIVE SIDE IF MARKET TRADES BELOW 4560 THEN ONE CAN GO SHORT WITH A STOPLOSS OF 4600 ONE CAN REMAIN SHORT AS LONG AS NIFTY IS BELOW 4600.
BUY SASKEN SL 115 TGT 125/130
BUY CAIRN SL 230 TGT 238/242
BUY ICSA SL 184 TGT 193/200
BUY M&M SL 840 TGT 870/881/900
BUY TATASTEEL SL 441 TGT 464/489
BUY IDFC SL 132 TGT 138/142
