GOOD MORNING!!!
MARKET OPENED WEAK ON GLOBAL QUES AND EXTENDED THEIR LOSSES, BUT BUYING IN SOME STOCK SPECIFIC COUNTERS HAS HELPED THE MARKETS TO CONTAIN THE LOSSES. MARKET BREADTH WEAKEND, TELECOM SHARES WERE THE CHIEF CASUALITIES OF THE DAY FOLLOWING REPORTS OF LIKELY DELAY IN THE THIRD GENERATION AUCTION PROCESS. FMCG AND PHARMA WERE POSITIVE.
TODAY MARKETS MAY OPEN POSITIVE WITH ALL GLOBAL INDICES MAKING A POSITIVE MOVE, MARKETS ARE STILL LOOKING STRONG STRUCTURALLY THOUGH THE MOMENTUM OF MARKETS ON INTRADAY BASIS HAVE GIVEN WEAKNESS AS ADVISED YESTERDAY TO STAY LONG ABOVE 4960 ONE HAS TO KEEP THIS LEVEL IN MIND AND KEEP BUYING ON DIPS AND ANY DOWNSIDE BELOW 4960 MAY TAKE NIFTY TO MUCH LOWER LEVELS. ON TRADING FRONT IF NIFTY TRADES BELOW 4990 THEN IT IS EXPECTED TO SLIDE DOWN TO 4960 LEVELS TRADING BELOW THIS LEVELS WITH GOOD VOLUMES WOULD TAKE NIFTY 4910 LEVELS AND ANY CLOSE BELOW 4960 IS CRUCIAL AND ONE IS ADVISED TO EXIT LONGS AND ONE CAN STAY SHORT. AND ON THE POSITIVE FRONT IF NIFTY TRADES ABOVE 5017 THEN IT CAN MOVE TO 5050 AND BREAK ABOVE THIS LEVEL WOULD TAKE NIFTY TO 5077 AND CLOSE ABOVE 5050 ONE CAN REMAIN LONG.
BUY JSW STEEL SL 829 TGT 848/865/874BUY CANBANK SL 315.4 TGT 321.5/323.4/327
BUY IBREAL SL 262 TGT 269/272/275
BUY NAGARCONT SL 148 TGT 152/155
BUY SPICE JET SL 33 TGT 37/38
BUY BANK NIFTY FUTURES SL 8640 TGT 8750/8815
