GOOD MORNING!!!
INDICES POSTED SMALL GAINS ON FRIDAY, IT WAS A CHOPPY SESSION OF TRADING BUT INDICIES HAVE POSTED A STRAIGHT FOURTH DAY GAINS AND NIFTY CLOSED AT 16 MONTH HIGHS. BANKING WAS WEAK WHILE CEMEMT AND AUTO ROSE. MARKET WAS HIGHLY VOLATILE. MARKET MOVED IN A VERY NARROW RANGE. THE NEXT MAJOR TRIGGER AFTER THE ADVANCED TAX IS QUARTER 2 RESULTS.
TODAY MARKET WOULD BE VERY RANGE BOUND AND ONE HAS TO WATCH THE LEVELS VERY CAREFULLY AS THE MARKET IS AT ITS PEAK. IF NIFTY TRADES ABOVE 4975 IT WILL TAKE NIFTY TO 4996 AND TRADING ABOVE 5007 NIFTY WILL TAKE A NEW HIGH OF 5050 LEVELS AND ON THE DOWNSIDE IF NIFTY TRADES BELOW4952 THEN IT WILL LEAD TO 4932 AND BREAK BELOW THIS LEVEL IS CONSIDERED TO BE WEAK AND ONE HAS TO STAY VERY CAUTIOUS AND WILL SEE NIFTY TO BREACH 4900 IN VERY SHORT SPAN OF TIME AND CLOSING ANYTHING BELOW 4932 IS CONSIDERED TO BE A VERY WEAK CLOSING AND ONE IS ADVISED TO STAY AWAY FROM LONGS.
BUY TATAPOWER ABOVE 1325 SL 1317 TGT 1336/1349/1364BUY HCC SL 119 TGT 134/139/144
BUY UNITEC SL 108 TGT 114.5/117/119
BUY HPCL ABOVE 384 SL 377 TGT 390/397/409
BUY NAGARJUNA CONSTRUCTION SL 148 TGT 157/160
