GOOD MORNING!!!
FIRM GLOBAL STOCKS HELPED INDIAN STOCKS EDGE HIGHER IN WHAT WAS A VOLATILE TRADING SESSION. THE BAROMETER INDEX BSE SENSEX REGAINED THE PSYCHOLOGICAL 15,000 LEVEL WITHIN A DAY AFTER FALLING BELOW THAT MARK ON WEDNESDAY, 19 AUGUST 2009. THE BSE 30-SHARE SENSEX JUMPED 202.68 POINTS OR 1.37%, OFF 132.68 POINTS FROM THE DAY'S HIGH AND UP 84.14 POINTS FROM THE DAY'S LOW. BUT THE UPMOVE WAS ON THE BACK OF LOWER TURNOVER. AS PER PROVISIONAL DATA, FOREIGN FUNDS TODAY, 20 AUGUST 2009, SOLD STOCKS WORTH A NET RS 438.19 CRORE. DOMESTIC FUNDS BOUGHT EQUITIES WORTH A NET RS 489.42 CRORE STOCKS ROSE ACROSS THE GLOBE LED BY A NEAR 5% RALLY IN CHINA'S SHANGHAI COMPOSITE INDEX. CLOSER HOME, AUTO, METAL, AND BANKING SECTOR STOCKS HOGGED LIMELIGHT. ALL SECTORAL INDICES ON BSE LOGGED GAINS. ADANI POWER SETTLED AT RS 100.05 ON BSE, A MARGINAL PREMIUM TO ITS THE INITIAL PUBLIC OFFER (IPO) PRICE OF RS 100 PER SHARE. INDEX HEAVYWEIGHT L&T CAME SHARPLY OFF THE HIGHER LEVEL IN LATE TRADE SOON AFTER GLOBAL RATING AGENCY MOODY'S CUT ITS RATING OUTLOOK ON THE STOCK FROM STABLE TO NEGATIVE
TODAY MARKET WOULD BE HIGHLY RANGE BOUND AND INDEX WILL HOVER ON POSITIVE AND NEGATIVE TERRAINS ONE CAN GO LONG IN NIFTY ONLY IF NIFTY TRADES ABOVE 4495 FOR A TARGET OF 4540 AND BREAK ABOVE THIS LEVEL WOULD TAKE NIFTY TO 4576 AND CLOSING ABOVE 4495 ONE CAN EXIT SHORT AND CLOSE ABOVE 4512 ONE CAN TAKE LONG POSITIONS AND CARRY FOR THE NEXT DAY. AND ON THE NEGATIVE SIDE IF NIFTY BREACHES 4430 THEN WILL HEAD TOWARDS 4392 AND BREAK BELOW THIS LEVEL NIFTY WOULD TAKE SUPPORT AROUND 4332 LEVELS AND CLOSING ANYTHING BELOW 4350 ONE CAN EXPECT NIFTY TO TOUCH 4230 IN NEXT COUPLE OF TRADING DAYS.
BUY MARUTI SL 1355 TGT 1384/1400
BUY CAIRN SL 238 TGT 245/249
BUY WELSPUN SL 208 TGT 216/219 (ONE CAN HOLD IT POSITIONALLY FOR TGT 300++)***
BUY GENESYS AT 92 SL 89 TGT 100++(ONE CAN HOLD POSITIONALLY FOR A TGT OF 140)
POSITIONAL TRADES
BUY NOIDA TOLL SL 38 TGT 41.50/42.70
BUY MAN INDUSTRIES AT 49.5 TGT 62
BUY USHA MARTIN AT 52.10 TGT 66
BUY JINDAL STAINLESS SL 76.4 TGT 96
BUY RESURGERE MINES AND MINERALS INDIA LTD AT 79 TGT 99
BUY RATNAMANI METALS AND TUBES LTD AT 81.65 TGT 103
FIRM GLOBAL STOCKS HELPED INDIAN STOCKS EDGE HIGHER IN WHAT WAS A VOLATILE TRADING SESSION. THE BAROMETER INDEX BSE SENSEX REGAINED THE PSYCHOLOGICAL 15,000 LEVEL WITHIN A DAY AFTER FALLING BELOW THAT MARK ON WEDNESDAY, 19 AUGUST 2009. THE BSE 30-SHARE SENSEX JUMPED 202.68 POINTS OR 1.37%, OFF 132.68 POINTS FROM THE DAY'S HIGH AND UP 84.14 POINTS FROM THE DAY'S LOW. BUT THE UPMOVE WAS ON THE BACK OF LOWER TURNOVER. AS PER PROVISIONAL DATA, FOREIGN FUNDS TODAY, 20 AUGUST 2009, SOLD STOCKS WORTH A NET RS 438.19 CRORE. DOMESTIC FUNDS BOUGHT EQUITIES WORTH A NET RS 489.42 CRORE STOCKS ROSE ACROSS THE GLOBE LED BY A NEAR 5% RALLY IN CHINA'S SHANGHAI COMPOSITE INDEX. CLOSER HOME, AUTO, METAL, AND BANKING SECTOR STOCKS HOGGED LIMELIGHT. ALL SECTORAL INDICES ON BSE LOGGED GAINS. ADANI POWER SETTLED AT RS 100.05 ON BSE, A MARGINAL PREMIUM TO ITS THE INITIAL PUBLIC OFFER (IPO) PRICE OF RS 100 PER SHARE. INDEX HEAVYWEIGHT L&T CAME SHARPLY OFF THE HIGHER LEVEL IN LATE TRADE SOON AFTER GLOBAL RATING AGENCY MOODY'S CUT ITS RATING OUTLOOK ON THE STOCK FROM STABLE TO NEGATIVE
TODAY MARKET WOULD BE HIGHLY RANGE BOUND AND INDEX WILL HOVER ON POSITIVE AND NEGATIVE TERRAINS ONE CAN GO LONG IN NIFTY ONLY IF NIFTY TRADES ABOVE 4495 FOR A TARGET OF 4540 AND BREAK ABOVE THIS LEVEL WOULD TAKE NIFTY TO 4576 AND CLOSING ABOVE 4495 ONE CAN EXIT SHORT AND CLOSE ABOVE 4512 ONE CAN TAKE LONG POSITIONS AND CARRY FOR THE NEXT DAY. AND ON THE NEGATIVE SIDE IF NIFTY BREACHES 4430 THEN WILL HEAD TOWARDS 4392 AND BREAK BELOW THIS LEVEL NIFTY WOULD TAKE SUPPORT AROUND 4332 LEVELS AND CLOSING ANYTHING BELOW 4350 ONE CAN EXPECT NIFTY TO TOUCH 4230 IN NEXT COUPLE OF TRADING DAYS.
BUY MARUTI SL 1355 TGT 1384/1400
BUY CAIRN SL 238 TGT 245/249
BUY WELSPUN SL 208 TGT 216/219 (ONE CAN HOLD IT POSITIONALLY FOR TGT 300++)***
BUY GENESYS AT 92 SL 89 TGT 100++(ONE CAN HOLD POSITIONALLY FOR A TGT OF 140)
POSITIONAL TRADES
BUY NOIDA TOLL SL 38 TGT 41.50/42.70
BUY MAN INDUSTRIES AT 49.5 TGT 62
BUY USHA MARTIN AT 52.10 TGT 66
BUY JINDAL STAINLESS SL 76.4 TGT 96
BUY RESURGERE MINES AND MINERALS INDIA LTD AT 79 TGT 99
BUY RATNAMANI METALS AND TUBES LTD AT 81.65 TGT 103
