GOOD MORNING!!!
INDICES PROVISIONALLY CLOSED NEAR THE DAY'S LOW ON PROFIT TAKING AHEAD OF THE WEEKEND AFTER THURSDAY. OIL & GAS STOCKS BUCKED THE WEAK TREND. IT, BANKING, AUTO, REALTY AND FMCG STOCKS FELL. THE MARKET BREADTH, INDICATING THE OVERALL HEALTH OF THE MARKET, WAS STILL POSITIVE BUT WEAK GLOBAL CUES ON THE WEAK CONSUMER DATA OF US HAVE WEAKENED THE MARKET WEAK CHINESE STOCKS AND POOR MONSOON TRIGGERED PROFIT TAKING AND MAY PROFIT TAKING MAY FOLLOW EVEN TODAY. THE MAJOR CAUSE OF CONCERN IS INVESTORS ARE WORRIED ABOUT POOR RAINS. MONSOON WAS 56% BELOW NORMAL IN WEEK TO 12 AUGUST 2009 AND WAS 72% BELOW NORMAL IN THE SOYABEAN GROWING CENTRAL REGION IN PAST ONE WEEK, INDIA METEOROLOGICAL DEPARTMENT (IMD) SAID ON THURSDAY. MONSOON RAINS WERE 29% BELOW NORMAL DURING THE PERIOD FROM 1 JUNE 2009 TO 12 AUGUST 2009. INDIA RELIES ON RAIN FOR 60% OF ITS IRRIGATION AND ON AGRICULTURE FOR 17% OF ITS ECONOMY.
TODAY MARKET WOULD BE NEGATIVELY BIASED TRADING BELOW 4550 WOULD TAKE NIFTY TO 4480 AND HERE NIFTY MIGHT TAKE SUPPORT AND BREAK BELOW THIS LEVEL IS CRUCIAL AND ONE CAN SEE NIFTY TO COME DOWN MUCH MORE. IF NIFTY CLOSES BELOW 4460 WOULD TAKE NIFTY TO 4342. ON THE UPSIDE NIFTY AFTER TOUCHING 4480 MAY SEE A PULL BACK TO 4530 AND TRADING ABOVE THIS POINT AFTER MAKING DAY LOW WOULD TAKE NIFTY TO THE MAXIMUM OF 4587 IF NIFTY TRADES ABOVE 4587 ONE CAN SEE NIFTY TO TRADE MUCH HIGHER THAN EXPECTED WHICH IS REMOTE.
BUY HCC SL 102 TGT 109/112
BUY FRESENIUS KABI ONCOLOGY SL 64 TGT 70/72
BUY TIME TECHO AT 40 SL 34 TGT 48/52 (CAN HOLD)
BUY HIND ALUMINIUM AT 37 SL 29 TGT 50/60 (CAN HOLD)
SELL RCOM BELOW 257 SL 261 TGT 250/242
SELL ABAN BELOW 1168 SL 1181 TGT 1142/1100
SELL ISPAT SL 23 TGT 22.25/21.30
SELL SUZLON SL 89 TGT 86.6/85
SELL HDFC SL 2330 TGT 2280/2260/2230
INDICES PROVISIONALLY CLOSED NEAR THE DAY'S LOW ON PROFIT TAKING AHEAD OF THE WEEKEND AFTER THURSDAY. OIL & GAS STOCKS BUCKED THE WEAK TREND. IT, BANKING, AUTO, REALTY AND FMCG STOCKS FELL. THE MARKET BREADTH, INDICATING THE OVERALL HEALTH OF THE MARKET, WAS STILL POSITIVE BUT WEAK GLOBAL CUES ON THE WEAK CONSUMER DATA OF US HAVE WEAKENED THE MARKET WEAK CHINESE STOCKS AND POOR MONSOON TRIGGERED PROFIT TAKING AND MAY PROFIT TAKING MAY FOLLOW EVEN TODAY. THE MAJOR CAUSE OF CONCERN IS INVESTORS ARE WORRIED ABOUT POOR RAINS. MONSOON WAS 56% BELOW NORMAL IN WEEK TO 12 AUGUST 2009 AND WAS 72% BELOW NORMAL IN THE SOYABEAN GROWING CENTRAL REGION IN PAST ONE WEEK, INDIA METEOROLOGICAL DEPARTMENT (IMD) SAID ON THURSDAY. MONSOON RAINS WERE 29% BELOW NORMAL DURING THE PERIOD FROM 1 JUNE 2009 TO 12 AUGUST 2009. INDIA RELIES ON RAIN FOR 60% OF ITS IRRIGATION AND ON AGRICULTURE FOR 17% OF ITS ECONOMY.
TODAY MARKET WOULD BE NEGATIVELY BIASED TRADING BELOW 4550 WOULD TAKE NIFTY TO 4480 AND HERE NIFTY MIGHT TAKE SUPPORT AND BREAK BELOW THIS LEVEL IS CRUCIAL AND ONE CAN SEE NIFTY TO COME DOWN MUCH MORE. IF NIFTY CLOSES BELOW 4460 WOULD TAKE NIFTY TO 4342. ON THE UPSIDE NIFTY AFTER TOUCHING 4480 MAY SEE A PULL BACK TO 4530 AND TRADING ABOVE THIS POINT AFTER MAKING DAY LOW WOULD TAKE NIFTY TO THE MAXIMUM OF 4587 IF NIFTY TRADES ABOVE 4587 ONE CAN SEE NIFTY TO TRADE MUCH HIGHER THAN EXPECTED WHICH IS REMOTE.
BUY HCC SL 102 TGT 109/112
BUY FRESENIUS KABI ONCOLOGY SL 64 TGT 70/72
BUY TIME TECHO AT 40 SL 34 TGT 48/52 (CAN HOLD)
BUY HIND ALUMINIUM AT 37 SL 29 TGT 50/60 (CAN HOLD)
SELL RCOM BELOW 257 SL 261 TGT 250/242
SELL ABAN BELOW 1168 SL 1181 TGT 1142/1100
SELL ISPAT SL 23 TGT 22.25/21.30
SELL SUZLON SL 89 TGT 86.6/85
SELL HDFC SL 2330 TGT 2280/2260/2230
