GOOD MORNING!!!
KEY INDICES REMAINED FIRM AND TRADED IN GREEN MOST OF THE TIME NIFTY CLOSING ABOVE THE PSYCHOLOGICAL 5000 MARKET. INDICIES WERE SUPPORTED BY GLOBAL STOCKS WITH HIGHER US INDEX FUTURES AND OPTIMISM ABOUT QUARTER 2 RESULTS. OVERALL INTRADAY VOLATALITY ON THE BOURSES WAS HIGH. STOCK AND SECTOR SPECIFIC ACTIVITY MAY DOMINATE TRADE IN THE COMING DAYS BASED ON EXPECTATIONS ON Q2 RESULTS. INFOSYS TO KICKSTART THE REPORTING STRONG Q2 RESULTS ON STRONG VOLUME GROWTH AND ON LOWER INPUT COSTS. METAL FIRMS ARE SEEN REPORTING FALL IN NET PROFIT DUE TO SHARP FALL IN METAL PRICES ON YEAR-ON-YEAR BASIS.
MARKETS TODAY WOULD OPEN STRONG WITH INFOSYS RESULTS ON THE POSITIVE NOTE. IF NIFTY TRADES ABOVE 5018 THEN WE CAN SEE NIFTY FACE RESISTANCE AT 5056 AND TRADE ABOVE 5068 WILL LEAD NIFTY TO 5130 AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 4960 THEN WE CAN SEE NIFTY TO TOUCH 4920 AND BREAK BELOW THIS LEVEL WOULD LEAD NIFTY TO 4892. ANY CLOSE BELOW 4960 IS WEAK CLOSING AND ANY CLOSE ABOVE IT IS GOOD TO STAY LONG.
BUY JPASSOCIATES SL 241.4 TGT 246.5/248.5/252.4
BUY UNITECH SL 98.9 TGT 103.4/105/106.5
BUY TATA MOTOR SL 582 TGT 600/607/613
BUY HCC SL 130 TGT 135/136.9
BUY AXIS SL 999 TGT 1020/1027
