GOOD MORNING!!!
INDICES EXTENDED GAINS FOR THE FIFTH DAY IN A ROW AFTER THE FINANCE MINISTER SAID ECONOMIC REFORMS WOULD BOOST GROWTH. SHARE FROM THE IT PACK LED THE RALLY TO THE MAXIMUM ALONG WITH REALTY, METAL AND POWER STOCKS ALSO ATTRACTED BUYING DEMAND. HOWEVER, BANKING SHARES WERE ON SELLING PRESSURE DUE TO PROFIT BOOKING. FMCG AND SELECT AUTO SHARES ALSO DIPPED ON PROFIT BOOKING. THE MARKET WAS VOLATILE. AFTER AN EARLY SURGE TRIGGERED BY STRONG US ECONOMIC DATA, THE MARKET CAME OFF THE HIGHER LEVEL. IT REGAINED STRENGTH LATER. THE MARKET ERASED ALMOST ITS ENTIRE INTRADAY GAINS IN EARLY AFTERNOON TRADE AFTER THE LATEST DATA SHOWED A SLOWDOWN IN INFRASTRUCTURE SECTOR GROWTH. THE MARKET SURGED LATER AS EUROPEAN STOCKS RECOVERED FROM AN INITIAL SLIDE. THE MARKET RETRACED FROM THE DAY'S HIGH ON PROFIT BOOKING AFTER A RECENT STRONG RALLY. THE MARKET MOVED IN A RANGE IN LATE TRADE.
TODAYTHE KEY BENCHMARK INDICES MAY DECLINE TRACKING WEAK GLOBAL CUES AS INVESTORS MAY BOOK PROFITS AFTER RECENT SURGE IN INDICES. VOLATILITY MAY REMAIN HIGH TODAY AS TRADERS ROLL OVER POSITIONS IN THE DERIVATIVES SEGMENT FROM AUGUST 2009 SERIES TO SEPTEMBER 2009 SERIES, AHEAD OF THE EXPIRY. THE MARKET WILL KEENLY WATCH FOREIGN TRADE POLICY TO BE ANNOUNCED BY THE COMMERCE MINISTER ANAND SHARMA TODAY. THE FOREIGN TRADE POLICY IS WIDELY EXPECTED TO CONTAIN SOPS FOR LABOUR INTENSIVE SECTORS LIKE GEMS AND JEWELLERY, TEXTILES AND LEATHER. INDIA'S EXPORTS IN THE LAST 10 MONTHS HAVE BEEN SLIDING STEADILY BY MORE THAN 25 PER CENT.
IF NIFTY TRADES ABOVE 4700 ONE CAN GO LONG FOR A TARGET OF 4741 AND BREAK BELOW 4641 THEN MARKET MAY SEE 4600. IT IS WISE TO TRADE WITH STRICT STOPLOSS AND BOOK PROFITS AT REGULAR INTERVALS. ONE IS ADVICED TO STAY CAUTIOUS IN TODAYS MARKET AND TEXTILES, GEMS JEWELLERY IS EXPECTED TO HAVE HIGH VOLATILITY WITH POSITIVE BIAS SO STAY FOCUSED ON THESE SECTORS.
BUY EVERONN SYSTEMS SL 388 TGT 404/411
BUY ALOK INDS SL 20.5 TGT 23.5/24.5
BUY ABAN AT 1520 SL 1485 TGT 1630/1725
BUY ZEEL AT 215 SL 212.8 TGT 226/233
BUY TECHM AT 914 SL 904 TGT 936/949
BUY ARVIND MILLS SL 30.9 TGT 33.45
TODAYTHE KEY BENCHMARK INDICES MAY DECLINE TRACKING WEAK GLOBAL CUES AS INVESTORS MAY BOOK PROFITS AFTER RECENT SURGE IN INDICES. VOLATILITY MAY REMAIN HIGH TODAY AS TRADERS ROLL OVER POSITIONS IN THE DERIVATIVES SEGMENT FROM AUGUST 2009 SERIES TO SEPTEMBER 2009 SERIES, AHEAD OF THE EXPIRY. THE MARKET WILL KEENLY WATCH FOREIGN TRADE POLICY TO BE ANNOUNCED BY THE COMMERCE MINISTER ANAND SHARMA TODAY. THE FOREIGN TRADE POLICY IS WIDELY EXPECTED TO CONTAIN SOPS FOR LABOUR INTENSIVE SECTORS LIKE GEMS AND JEWELLERY, TEXTILES AND LEATHER. INDIA'S EXPORTS IN THE LAST 10 MONTHS HAVE BEEN SLIDING STEADILY BY MORE THAN 25 PER CENT.
IF NIFTY TRADES ABOVE 4700 ONE CAN GO LONG FOR A TARGET OF 4741 AND BREAK BELOW 4641 THEN MARKET MAY SEE 4600. IT IS WISE TO TRADE WITH STRICT STOPLOSS AND BOOK PROFITS AT REGULAR INTERVALS. ONE IS ADVICED TO STAY CAUTIOUS IN TODAYS MARKET AND TEXTILES, GEMS JEWELLERY IS EXPECTED TO HAVE HIGH VOLATILITY WITH POSITIVE BIAS SO STAY FOCUSED ON THESE SECTORS.
BUY EVERONN SYSTEMS SL 388 TGT 404/411
BUY ALOK INDS SL 20.5 TGT 23.5/24.5
BUY ABAN AT 1520 SL 1485 TGT 1630/1725
BUY ZEEL AT 215 SL 212.8 TGT 226/233
BUY TECHM AT 914 SL 904 TGT 936/949
BUY ARVIND MILLS SL 30.9 TGT 33.45
BUY JAYASWAL NECO INDS LTD TGT 35/48(MEDIUM TERM)
