LAST TRADING SESSION WAS YET AGAIN A NEW HIGH FOR THE NIFTY, NIFTY STUCK 17 MONTH HIGH , AFTER A FIRM OPENING EXTENDING GAINS FOR THE STRAIGHT THIRD DAY. MARKET MANAGED TO CLOSE SLIGHTLY IN THE POSITIVE TERRAIN AFTER HOVERING IN POSITIVE AND NEGATIVE ZONES ON THE PROFIT BOOKING DUE TO LONG WEEK END. GAINS IN IT PIVOTALS WERE OFFSET BY PROFIT BOOKING IN OIL AND GAS STOCKS.
TODAY MARKETS LOOK WEAK ON THE WEAK GLOBAS CUES BUT ONE HAS TO KEEP A NOTE OF MARKETS THAT THEY ARE STRUCTURALLY STILL STRONG ENOUGH ONE HAS TO WATCH OUT FOR THE KEY LEVELS SPECIFIED BELOW AND IS ADVISED ONLY TO SHORT OR GO LONG ON THE LEVELS INDICATED AND EVERYONE IS CAUTIONED THAT THIS IS THE PHASE WERE ONE HAS TO BE VERY STRICT WITH THE LEVELS ON THE NEGATIVE SIDE IF MARKETS TRADE BELOW 5061 THEN IS LIKELY TO GO DOWN TO 5016 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 4960 AND THEN TO 4920 ANY THING BELOW 4960 IS CONSIDERED TO BE WEAK CLOSE BELOW THIS LEVEL ONE CAN GO SHORT AND ON THE UPFRONT IF NIFTY TRADES ABOVE 5090 ONE CAN GO LONG IT IS LIKELY TO SEE NIFTY TO THE NEW HIGHS IF TRADED ABOVE 5090 THE NEXT LEVEL WE CAN SEE IS 5136.
BUY JSL ONLY ABOVE 100 SL 96 TGT 105/108
BUY AXIS BANK ONLY ABOVE 1015 SL 999 TGT 1034/1049
BUY IDFC ABOVE 155.4 SL 152.4 TGT 160/162
SELL HEROHONDA SL 1650 TGT 1620
SELL STER SL 786 TGT 765/753/741
SELL DLF SL 444 TGT 428/418
