GOOD MORNING!!!
LAST TRADING DAY WAS VERY VOLATILE WITH NARROW RANGE BAND, WITH ONLY STOCK SPECIFIC MOVEMENTS. AUTO AND BANKING STOCKS WERE IN DEMAND. PSU OMCS ALSO EDGED HIGHER AS CRUDE OIL PRICES FELL. BUT REALTY STOCKS FELL. THE MARKET, INDICATING THE OVERALL HEALTH OF THE MARKET WAS POSITIVE. COMPANIES ADVANCE TAX NUMBERS AND THE SECOND QUARTER SEPTEMBER 2009 RESULTS NEXT MONTH WOULD BE KEY TRIGGERS FOR THE MARKET IN THE NEAR TERM. INDIAN FIRMS HAVE TO PAY 30% OF THE ESTIMATED TAX LIABILITY FOR THE YEAR BY THE SECOND INSTALLMENT OF ADVANCE TAX WHICH FALLS DUE ON 15 SEPTEMBER. HIGHER ADVANCE TAX PAYMENT WILL MEAN THEIR PROFITS MAY BE HIGHER IN Q2 SEPTEMBER 2009 OVER Q2 SEPTEMBER 2008 AND VICE VERSA.
TODAY MARKETS LOOK VOLATILE. LAST 4 TO 5 SESSIONS IN THE MARKET CLEARLY INDICATES CONSOLIDATION AND IS ABOUT TO BREAK OUT EITHER ON THE UPSIDE OR THE DOWNSIDE.ONE HAS TO WATCH OUT FOR THE CRUCIAL LEVELS INDICATED BELOW FOR DETERMINING THE TREND AND TRADING WITH THE TREND. ON THE POSITIVE SIDE NIFTY TRADES ABOVE 4840 THEN WE CAN SEE NIFTY TO GO TO 4876 LEVELS AND TRADE ABOVE THIS LEVEL WOULD TAKE NIFTY TO NEW HIGH S AND WE MAY SEE SOME RESISTANCE AROUND 4900 LEVELS CLOSE ANYTHING ABOVE 4876 WOULD TAKE MARKETS TO NEW HIGHS. ON TH E NEGATIVE SIDE OF THE MARKET IS NIFTY TRADES BELOW 4790 THEN ONE CAN SEE NIFTY TO COME DOWN TO 4740 LEVELS AND BREACH BELOW THIS LEVELS MAY WEAKEN THE MARKET SO STAY AWAY IF NIFTY CLOSES BELOW 4740 LEVELS, OTHERWISE MARKET STRUCTURALLY LOOKS STRONG AND ONE SHOULD GO WITH THE TREND.
LAST TRADING DAY WAS VERY VOLATILE WITH NARROW RANGE BAND, WITH ONLY STOCK SPECIFIC MOVEMENTS. AUTO AND BANKING STOCKS WERE IN DEMAND. PSU OMCS ALSO EDGED HIGHER AS CRUDE OIL PRICES FELL. BUT REALTY STOCKS FELL. THE MARKET, INDICATING THE OVERALL HEALTH OF THE MARKET WAS POSITIVE. COMPANIES ADVANCE TAX NUMBERS AND THE SECOND QUARTER SEPTEMBER 2009 RESULTS NEXT MONTH WOULD BE KEY TRIGGERS FOR THE MARKET IN THE NEAR TERM. INDIAN FIRMS HAVE TO PAY 30% OF THE ESTIMATED TAX LIABILITY FOR THE YEAR BY THE SECOND INSTALLMENT OF ADVANCE TAX WHICH FALLS DUE ON 15 SEPTEMBER. HIGHER ADVANCE TAX PAYMENT WILL MEAN THEIR PROFITS MAY BE HIGHER IN Q2 SEPTEMBER 2009 OVER Q2 SEPTEMBER 2008 AND VICE VERSA.
TODAY MARKETS LOOK VOLATILE. LAST 4 TO 5 SESSIONS IN THE MARKET CLEARLY INDICATES CONSOLIDATION AND IS ABOUT TO BREAK OUT EITHER ON THE UPSIDE OR THE DOWNSIDE.ONE HAS TO WATCH OUT FOR THE CRUCIAL LEVELS INDICATED BELOW FOR DETERMINING THE TREND AND TRADING WITH THE TREND. ON THE POSITIVE SIDE NIFTY TRADES ABOVE 4840 THEN WE CAN SEE NIFTY TO GO TO 4876 LEVELS AND TRADE ABOVE THIS LEVEL WOULD TAKE NIFTY TO NEW HIGH S AND WE MAY SEE SOME RESISTANCE AROUND 4900 LEVELS CLOSE ANYTHING ABOVE 4876 WOULD TAKE MARKETS TO NEW HIGHS. ON TH E NEGATIVE SIDE OF THE MARKET IS NIFTY TRADES BELOW 4790 THEN ONE CAN SEE NIFTY TO COME DOWN TO 4740 LEVELS AND BREACH BELOW THIS LEVELS MAY WEAKEN THE MARKET SO STAY AWAY IF NIFTY CLOSES BELOW 4740 LEVELS, OTHERWISE MARKET STRUCTURALLY LOOKS STRONG AND ONE SHOULD GO WITH THE TREND.
BUY MLL SL 54.90 TGT 57/58.5
BUY IBREAL SL 261 TGT 270/275
DON’T MISS LAST DAYS POSITIONAL CALL AT ANY COST****
