GOOD MORNING!!!
NDICES EXTENDED GAINS FOR THE STRAIGHT THIRD DAY BY STRONG GLOBAL CUES. WITH SHARES FROM REALTY, METAL AND CAPITAL GOODS SHARES IN FOREFRONT. STOCKS ACROSS THE GLOBE SURGED WITH EUROPEAN AND ASIAN STOCKS ADVANCING TO A 10-MONTH HIGH TODAY, 24 AUGUST 2009. THE US INDICES RALLIED ON FRIDAY, 21 AUGUST 2009 WITH THE S&P 500 AND THE NASDAQ STRIKING 10-MONTH HIGHS IN INTRADAY TRADE, WHILE THE DOW INDUSTRIALS HIT ITS HIGHEST LEVEL IN NINE MONTHS. THE MARKET BREADTH WAS STRONG ON BSE WITH SMALL AND MID-CAP STOCKS ALSO PARTICIPATING IN THE RALLY. TODAY'S ADVANCE WAS BROAD BASED WITH ALL BSE SECTORAL INDICES EDGING HIGHER. VOLATILITY MAY RISE AHEAD OF THE EXPIRY OF THE AUGUST 2009 SERIES ON THURSDAY, 28 AUGUST 2009. EUROPEAN MARKETS HIT HIGHEST LEVEL SINCE MID-OCTOBER 2008 TODAY, 24 AUGUST 2009 BUOYED BY RENEWED HOPES THAT THE GLOBAL ECONOMIC RECOVERY IS GATHERING PACE. ASIAN STOCKS RALLIED LIFTING WORLD SHARES TO A 10-MONTH HIGH, AFTER UPBEAT US HOUSING DATA AND OPTIMISTIC COMMENTS FROM FEDERAL RESERVE CHAIRMAN BEN BERNANKE SPURRED BUYING OF RISKIER ASSETS. KEY BENCHMARK INDICES IN CHINA, SOUTH KOREA, JAPAN, HONG KONG, SINGAPORE AND TAIWAN WERE UP BY IN THE LAST TRADING DAY.TODAY WITH GLOBAL QUES LOOKING WEAK WITH CHINA AND OTHER INDEXES DOWN BY 2 ODD PERCENT MAY OPEN NEGATIVE BUT THE STRONG RALLY WILL LEAD THE MARKET AGAIN TO A HEALTHY ZONE OF BUYING AND BUYING SPREE MAY CONTINUE WITH PROFIT BOOKING AT EVERY HIGHER INTERVALS ONE CAN LOOK AT MARKET ON A POSITIVE SIDE AND BUY ON EVERY DECLINE KEEPING 4480 AS STOPLOSS IN NIFTY.
TODAY MARKET WOULD OPEN NEGATIVE AND IT WOULD BE RANGE BOUND WITH THE SETTLEMENT AHEAD. IF NIFTY CROSSES TRADES BELOW 4600 AND TRADE THEN NIFTY WILL TAKE A SUPPORT AT 4565 AND BREAK BELOW THIS LEVEL WILL TAKE NIFTY TO 4529 AND ANY THING CLOSE BELOW 4529 IS ADVISED TO EXIT LONGS AND CLOSE BELOW 4480 ONE CAN GO SHORT. AND ON THE LONG SIDE IF NIFTY CROSSES 4662 THEN MARKET CAN RALLY TO 4706 AND BREAK ABOVE THIS LEVEL WOULD TAKE NIFTY TO 4740 CLOSE ABOVE 4700 IS CONSIDERED TO BE VERY BULLISH AND ONE CAN EXPECT MARKET TO CROSS 5000 LEVELS IF NIFTY CLOSES ABOVE 4700 LEVELS.
SELL ICICI BANK SL 772 TGT 752/743BUY CESC SL 341 TGT 352/360
BUY MAHINDRA HOLIDAY SL 344 TGT 357/362
BUY LT AT 1535 SL 1524 TGT 1555/1567
BUY TATAMOTORS ABOVE 462 SL 458 TGT 467/472
BUY ASHOK LEYLAND AT 37.5 TO 38 SL 36.9 TGT 39/41
BUY SPANCO TELESYSTEMS TGT 75/90 (MEDIUM TERM)
BUY VALECHA ENGINEERING TGT 110/140 (MEDIUM TERM)
