GOOD MORNING!!!
IN THE LAST TRADING DAY S&P CNX NIFTY SETTLED AT THEIR HIGHEST LEVEL IN MORE THAN 15 MONTHS. GLOBAL STOCKS SURGED AFTER THE G20 LEADERS PLEDGED TO MAINTAIN STIMULUS MEASURES. RALLY CAME ON THE BACK OF HIGHER TURNOVER. THE MARKET BREADTH INDICATING THE OVERALL HEALTH OF THE MARKET WAS STRONG. REALTY, BANKING AND METAL STOCKS WERE AT THE FOREFRONT IN THE RALLY. IN STOCK-SPECIFIC ACTIVITY TATA MOTORS SURGED ALMOST 13%. ICICI BANK JUMPED AROUND 7% AND STERLITE INDUSTRIES GAINED AROUND 6.5%. MEANWHILE, A SURVEY TO GAUGE BUSINESS CONFIDENCE SENTIMENT, CARRIED OUT BY FEDERATION OF INDIAN CHAMBERS OF COMMERCE AND INDUSTRY (FICCI), FOR THE MONTH OF SEPTEMBER 2009, SUGGESTED THAT THE CONFIDENCE LEVEL OF INDIA INC IS ON THE RISE THANKS TO GOVERNMENT'S FISCAL STIMULUS MEASURES. EIGHTY PER CENT OF THE COMPANIES BELIEVE THAT THE INDIAN ECONOMY IS ON THE ROAD TO RECOVERY AND EXPECT IMPROVEMENT IN CORPORATE PERFORMANCE IN THE MONTHS TO COME.
TODAY NIFTY MAY OPEN ON THE POSITIVE NOTE BUT BE CAREFUL IN THE MIDTRADE AS THERE MAY BE SOME PROFIT BOOKING IF NIFTY CLOSES ON THE POSITIVE FRONT TODAY IT MIGHT TAKE TO THE NEW HIGHS SO STAY INVESTED BUT KEEP A CLOSE WATCH IN THE MID TRADE. FOR NIFTY IF IT SUSTAINS ABOVE 4800 THAT IS GOOD FOR NIFTY AND IF NIFTY BREAKS 4819 AND TRADES THEN IT HAS STRONG RESISTANCE AT 4876 AND IF NIFTY CLOSES ON THE POSITIVE NOTE THEN IT IS GOOD FOR THE MARKET ON THE POSITIVE FRONT AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 4783 THEN IT HAS SUPPORT ONLY AT 4741 AND BREAK BELOW THIS WILL LEAD NIFTY TO 4705 AND IF IT CLOSES BELOW 4705 THEN YOU CAN SEE 4662. KEEP A WATCH ON EDUCATION STOCKS AND FINANCIAL STOCKS.
BUY ICICI BANK SL 774 TGT 799
TODAY NIFTY MAY OPEN ON THE POSITIVE NOTE BUT BE CAREFUL IN THE MIDTRADE AS THERE MAY BE SOME PROFIT BOOKING IF NIFTY CLOSES ON THE POSITIVE FRONT TODAY IT MIGHT TAKE TO THE NEW HIGHS SO STAY INVESTED BUT KEEP A CLOSE WATCH IN THE MID TRADE. FOR NIFTY IF IT SUSTAINS ABOVE 4800 THAT IS GOOD FOR NIFTY AND IF NIFTY BREAKS 4819 AND TRADES THEN IT HAS STRONG RESISTANCE AT 4876 AND IF NIFTY CLOSES ON THE POSITIVE NOTE THEN IT IS GOOD FOR THE MARKET ON THE POSITIVE FRONT AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 4783 THEN IT HAS SUPPORT ONLY AT 4741 AND BREAK BELOW THIS WILL LEAD NIFTY TO 4705 AND IF IT CLOSES BELOW 4705 THEN YOU CAN SEE 4662. KEEP A WATCH ON EDUCATION STOCKS AND FINANCIAL STOCKS.
BUY ICICI BANK SL 774 TGT 799
BUY STER SL 704 TGT 715
BUY TATAMOTORS SL 564 TGT 574
BUY NAGARJUNA CONST SL 138 TGT 145/148
BUY MOTILAL OSWASL SL 162 TGT 172/175
BUY EVERONN SL 385 TGT 400/405
