GOOD MORNING!!!
INDICES SPURTED ON POSITIVE GLOBAL INDICES. THE SENSEX WAS ABOVE PSYCHOLOGICAL 15,000 MARK. IT HAD FALLEN BELOW THIS MARK ON MONDAY IN A BROAD BASED SELL OFF. IT STOCKS FELL. INDEX HEAVYWEIGHT RELIANCE INDUSTRIES PARED GAINS. BUYING WAS WITNESSED IN CAPITAL GOODS, BANKING AND METAL STOCKS. THE MARKET WAS VOLATILE. THE MARKET AFTER OPENING LOWER TURNED POSITIVE FOR A BRIEF PERIOD BEFORE REVERSING GAINS TRACKING WEAK ASIA. MARKET SURGED TO FRESH DAY'S HIGH IN MID-MORNING TRADE. THERE IS NO FRESH PROPOSAL FOR A FARM DEBT WAIVER AND ECONOMIC GROWTH IS EXPECTED TO BE 6 PERCENT-PLUS IN THE CURRENT FINANCIAL YEAR ENDING MARCH 2010, FINANCE MINISTER PRANAB MUKHERJEE SAID ON TUESDAY. MEANWHILE, INDIA'S JULY EXPORTS HAVE FALLEN 26 % FROM A YEAR EARLIER, TRADE SECRETARY RAHUL KHULLAR SAID ON TUESDAY. THE MONSOON SITUATION REMAINS GRIM WITH THE COUNTRY HEADING INTO THE WORST DROUGHT YEAR OVER THE LAST TWO DECADES. 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 13 AUGUST 2009. MONSOON RAINS WERE 29% BELOW NORMAL DURING THE PERIOD FROM 1 JUNE 2009 TO 12 AUGUST 2009. HOWEVER, INDIA'S WEATHER OFFICE HAS RULED OUT AN EARLY WITHDRAWAL FOR THIS YEAR'S MONSOON WHICH HAS STILL ONE AND HALF MONTHS TO COMPLETE ITS FULL JOURNEY. THE PROGRESS OF MONSOON IS CLOSELY WATCHED AS MORE THAN TWO-THIRDS OF THE PEOPLE LIVE IN VILLAGES AND 60% OF THE FARM LAND DEPENDS ON THE ANNUAL RAINS.
TODAY MARKETS WOULD HIGHLY RANGE BOUND AND WOULD HOVER POSITIVE TO NEGATIVE TERRAINS ONE HAS TO BOOK SMALLER PROFITS IN INTRADAY TERMS UNLESS AND UNTIL THE NIFTY BREACHES THE BELOW SAID LEVELS. ON THE NEGATIVE FRONT IF NIFTY TRADES BELOW 4412 ONE CAN TAKE A SHORT POSITION FOR A TARGETS OF 4322 AND BELOW THIS LEVEL NIFTY CAN TOUCH A LEVEL OF 4267 AND ON THE UPFRONT IF NIFTY TRADES ABOVE 4475 ONE CAN GO LONG FOR A TARGET OF 4516 AND ABOVE THIS LEVEL NIFTY WOULD FACE RESISTANCE AT 4540.
KEEP AN EYE ON EDUCATION STOCKS, METALS AND IT STOCKS
BUY LT ABOVE 1475 SL 1460 TGT 1488/1497
INDICES SPURTED ON POSITIVE GLOBAL INDICES. THE SENSEX WAS ABOVE PSYCHOLOGICAL 15,000 MARK. IT HAD FALLEN BELOW THIS MARK ON MONDAY IN A BROAD BASED SELL OFF. IT STOCKS FELL. INDEX HEAVYWEIGHT RELIANCE INDUSTRIES PARED GAINS. BUYING WAS WITNESSED IN CAPITAL GOODS, BANKING AND METAL STOCKS. THE MARKET WAS VOLATILE. THE MARKET AFTER OPENING LOWER TURNED POSITIVE FOR A BRIEF PERIOD BEFORE REVERSING GAINS TRACKING WEAK ASIA. MARKET SURGED TO FRESH DAY'S HIGH IN MID-MORNING TRADE. THERE IS NO FRESH PROPOSAL FOR A FARM DEBT WAIVER AND ECONOMIC GROWTH IS EXPECTED TO BE 6 PERCENT-PLUS IN THE CURRENT FINANCIAL YEAR ENDING MARCH 2010, FINANCE MINISTER PRANAB MUKHERJEE SAID ON TUESDAY. MEANWHILE, INDIA'S JULY EXPORTS HAVE FALLEN 26 % FROM A YEAR EARLIER, TRADE SECRETARY RAHUL KHULLAR SAID ON TUESDAY. THE MONSOON SITUATION REMAINS GRIM WITH THE COUNTRY HEADING INTO THE WORST DROUGHT YEAR OVER THE LAST TWO DECADES. 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 13 AUGUST 2009. MONSOON RAINS WERE 29% BELOW NORMAL DURING THE PERIOD FROM 1 JUNE 2009 TO 12 AUGUST 2009. HOWEVER, INDIA'S WEATHER OFFICE HAS RULED OUT AN EARLY WITHDRAWAL FOR THIS YEAR'S MONSOON WHICH HAS STILL ONE AND HALF MONTHS TO COMPLETE ITS FULL JOURNEY. THE PROGRESS OF MONSOON IS CLOSELY WATCHED AS MORE THAN TWO-THIRDS OF THE PEOPLE LIVE IN VILLAGES AND 60% OF THE FARM LAND DEPENDS ON THE ANNUAL RAINS.
TODAY MARKETS WOULD HIGHLY RANGE BOUND AND WOULD HOVER POSITIVE TO NEGATIVE TERRAINS ONE HAS TO BOOK SMALLER PROFITS IN INTRADAY TERMS UNLESS AND UNTIL THE NIFTY BREACHES THE BELOW SAID LEVELS. ON THE NEGATIVE FRONT IF NIFTY TRADES BELOW 4412 ONE CAN TAKE A SHORT POSITION FOR A TARGETS OF 4322 AND BELOW THIS LEVEL NIFTY CAN TOUCH A LEVEL OF 4267 AND ON THE UPFRONT IF NIFTY TRADES ABOVE 4475 ONE CAN GO LONG FOR A TARGET OF 4516 AND ABOVE THIS LEVEL NIFTY WOULD FACE RESISTANCE AT 4540.
KEEP AN EYE ON EDUCATION STOCKS, METALS AND IT STOCKS
BUY LT ABOVE 1475 SL 1460 TGT 1488/1497
BUY 3I INFOTECH SL 69 TGT 79/82
BUY JINDAL STEEL SL 2970 TGT 3041/3078
BUY ROLTA SL 161 TGT 171/174
BUY JINDAL STEEL SL 2970 TGT 3041/3078
BUY ROLTA SL 161 TGT 171/174
POSITIONAL TRADES
BUY CYBER TECH AT 13 TGT 24/30 (MEDIUM TERM)
BUY CYBER TECH AT 13 TGT 24/30 (MEDIUM TERM)
BUY AKALI METALS SL 234 TGT 300 (SHORT TERM)
