GOOD MORNING!!!
INDICES SOARED AS PROPOSED A SURGE IN INDUSTRIAL PRODUCTION IN JUNE 2009 REINFORCED EXPECTATIONS THAT THE ECONOMY IS RECOVERING. A DRAFT DIRECT TAX CODE WHICH PROPOSES TO REDUCE TAX RATES ON INDIVIDUALS AND CORPORATES AND SCRAPPING OF THE SECURITIES TRANSACTION TAX (STT), ALSO BOOSTED SENTIMENT. THE RALLY ON THE DOMESTIC BOURSES WAS ALSO A PART OF RALLY ACROSS GLOBAL STOCKS TRIGGERED BY SIGNS OF A REVIVAL IN THE GLOBAL ECONOMY AND THE US FEDERAL RESERVE'S DECISION ON WEDNESDAY, 12 AUGUST 2009, TO KEEP INTEREST RATES LOW FOR A PROLONGED PERIOD. BULLS, NONETHELESS, TOOK HEART FROM THE ROBUST INDUSTRIAL PRODUCTION DATA. IN SHARP CONTRAST TO THE GLOOM IN THE FARM SECTOR, INDIA'S INDUSTRIAL OUTPUT EXPANDED 7.8% IN JUNE 2009, AT THE FASTEST PACE IN 16 MONTHS, BEATING FORECASTS BY A WIDE MARGIN
TODAY IF MARKET SUSTAINS ABOVE 4634 THEN IT WILL HAVE ITS NEXT JOURNEY TO 4674 BREAK ABOVE THIS LEVEL WOULD FACE A CRUCIAL RESISTANCE AT 4700. AND ON THE DOWNSIDE BREAK BELOW 4497 MARKET WOULD COME DOWN TARGETTING TO 4442 AND BELOW THIS LEVEL IT CAN TAKE NIFTY TO 4337 AND IF NIFTY CLOSES BELOW 4444 THEN THERE WOULD BE BLOOD BATH SO BE CAREFUL AND STRICTLY FOLLOW THE LEVELS INDICATED ABOVE.
STAY CAUTIOUS IN THIS MARKET AS IT MAY TURN NEGATIVE WIHTOUT ANY INDIATION
BUY BANK OF INDIA SL 320 TGT 329/337
BUY GMR INFRA SL 137.1 TGT 140/143/145
BUY ICSA SL 174 TGT 183/187/191
BUY JINDAL SAW SL 572 TGT 589/595/604
BUY JPASSOCIATES SL 219 TGT 234/239/243
BUY JP HYDRO SL 86.9 TGT 90/92
BUY MTNL SL 99.7 TGT 102.5/103.2
BUY RELCAPITAL SL 851 TGT 871/886
BUY MARUTI ABOVE 1370 SL 1359 TGT 1393/1404/1416/1432
BUY SBI ABOVE 1805 SL 1779 TGT 1829/1855
BUY KRBL SL 127 TGT 135/139
BUY IBREAL SL 241 TGT 252/255
BUY SUZLON SL 87 TGT 94/98
INDICES SOARED AS PROPOSED A SURGE IN INDUSTRIAL PRODUCTION IN JUNE 2009 REINFORCED EXPECTATIONS THAT THE ECONOMY IS RECOVERING. A DRAFT DIRECT TAX CODE WHICH PROPOSES TO REDUCE TAX RATES ON INDIVIDUALS AND CORPORATES AND SCRAPPING OF THE SECURITIES TRANSACTION TAX (STT), ALSO BOOSTED SENTIMENT. THE RALLY ON THE DOMESTIC BOURSES WAS ALSO A PART OF RALLY ACROSS GLOBAL STOCKS TRIGGERED BY SIGNS OF A REVIVAL IN THE GLOBAL ECONOMY AND THE US FEDERAL RESERVE'S DECISION ON WEDNESDAY, 12 AUGUST 2009, TO KEEP INTEREST RATES LOW FOR A PROLONGED PERIOD. BULLS, NONETHELESS, TOOK HEART FROM THE ROBUST INDUSTRIAL PRODUCTION DATA. IN SHARP CONTRAST TO THE GLOOM IN THE FARM SECTOR, INDIA'S INDUSTRIAL OUTPUT EXPANDED 7.8% IN JUNE 2009, AT THE FASTEST PACE IN 16 MONTHS, BEATING FORECASTS BY A WIDE MARGIN
TODAY IF MARKET SUSTAINS ABOVE 4634 THEN IT WILL HAVE ITS NEXT JOURNEY TO 4674 BREAK ABOVE THIS LEVEL WOULD FACE A CRUCIAL RESISTANCE AT 4700. AND ON THE DOWNSIDE BREAK BELOW 4497 MARKET WOULD COME DOWN TARGETTING TO 4442 AND BELOW THIS LEVEL IT CAN TAKE NIFTY TO 4337 AND IF NIFTY CLOSES BELOW 4444 THEN THERE WOULD BE BLOOD BATH SO BE CAREFUL AND STRICTLY FOLLOW THE LEVELS INDICATED ABOVE.
STAY CAUTIOUS IN THIS MARKET AS IT MAY TURN NEGATIVE WIHTOUT ANY INDIATION
BUY BANK OF INDIA SL 320 TGT 329/337
BUY GMR INFRA SL 137.1 TGT 140/143/145
BUY ICSA SL 174 TGT 183/187/191
BUY JINDAL SAW SL 572 TGT 589/595/604
BUY JPASSOCIATES SL 219 TGT 234/239/243
BUY JP HYDRO SL 86.9 TGT 90/92
BUY MTNL SL 99.7 TGT 102.5/103.2
BUY RELCAPITAL SL 851 TGT 871/886
BUY MARUTI ABOVE 1370 SL 1359 TGT 1393/1404/1416/1432
BUY SBI ABOVE 1805 SL 1779 TGT 1829/1855
BUY KRBL SL 127 TGT 135/139
BUY IBREAL SL 241 TGT 252/255
BUY SUZLON SL 87 TGT 94/98
SELL APTECH BELOW 206 SL 210 TGT 197/190/177
POSITIONAL TRADES
BUY NIIT TECH TGT 160***
BUY NIIT TECH TGT 160***
BUY HIND RECTIFIERS TGT 85/100/120**
BUY PHOTOQUIP INDIA TGT 50**
BUY DEEP INDUSTRIES TGT 109
BUY ESCORTS TGT 89
BUY GSPL TGT 88
BUY BALAJI TELE TGT 66
BUY BIHAR TUBES TGT 65
BUY DEEP INDUSTRIES TGT 109
BUY ESCORTS TGT 89
BUY GSPL TGT 88
BUY BALAJI TELE TGT 66
BUY BIHAR TUBES TGT 65
