GOOD MORNING!!!
THE KEY BENCHMARK INDICES EXTENDED LOSSES TO HIT FRESH DAY'S LOW IN MID-AFTERNOON TRADE TRACKING WEAK EUROPEAN STOCKS. INTRADAY VOLATILITY WAS HIGH EARLIER IN THE DAY. MARKET BREADTH TURNED NEGATIVE. IT STOCKS EXTENDED LOSSES AFTER IT BELLWETHER INFOSYS SAID STRENGTHENING RUPEE WAS A BIG CONCERN FOR ITS EARNINGS. BANKING STOCKS FELL ON WORRIES INTEREST RATES MAY HARDEN. AUTO STOCKS SLIPPED. STOCK AND SECTOR-SPECIFIC ACTIVITY MAY DOMINATE TRADE IN THE COMING DAYS BASED ON EXPECTATIONS ON Q2 SEPTEMBER 2009 RESULTS. AUTO FIRMS ARE SEEN REPORTING STRONG Q2 RESULTS ON STRONG VOLUME GROWTH AND ON LOWER INPUT COSTS. CEMENT FIRMS TOO ARE SEEN REPORTING GOOD Q2 NUMBERS ON THE BACK OF VOLUME GROWTH, HIGHER REALIZATION AND DECLINE IN COSTS LIKE IMPORTED COAL. METAL FIRMS ARE SEEN REPORTING FALL IN NET PROFIT DUE TO A SHARP FALL IN METAL PRICES ON YEAR-ON-YEAR BASIS.
TODAY MARKET WOULD OPEN SLIGHTLY POSITIVE BUT THE MARKET VOLTALITY TO REMAIN VERY HIGH, PROFIT BOOKING CANNOT BE RULED OUT AT EVERY HIGHER LEVELS, STOCK SPECIFIC MOVEMENT MAY BE SEEN ONE SHOULD CONCENTRATE MORE ON HIGH QUALITY MIDCAP STOCKS. IF NIFTY BELOW 4920 THEN 4890 AND TRADE BELOW 4890 WOULD LEAD NIFTY TO 4865 AND THEN TO 4823 AND ON THE UPSIDE IF NIFTY TRADES ABOVE 4975 THEN WE CAN SEE NIFTY TO MOVE UP TO 5035 AND TRADE ABOVE THIS LEVEL WOULD LEAD TO 5080. OVERALL MARKET LOOKS WEAK AT THIS STAGE ONE NEEDS TO BE VERY CAUTIOUS BEFORE GOING ON POSITIVE SIDE. WE WOULD SUGGEST TO REMAIN OUT OF BUYING POSITIONS IN HUGE COUNTERS AND HUGE QUANTITIES AND WOULD SUGGEST YOU TO ENTER ONLY STOCK SPECIFIC AND WITH LESS QUANTITY OF SHARES
SELL TATAMOTORS SL 553 TGT 530/520/511
SELL STERLITE SL 812 TGT 776/764
SELL PNB SL 832 TGT 807/798/789
SELL ABAN AROUND 1605 SL 1616 TGT 1581/ 1565/1550
TODAY MARKET WOULD OPEN SLIGHTLY POSITIVE BUT THE MARKET VOLTALITY TO REMAIN VERY HIGH, PROFIT BOOKING CANNOT BE RULED OUT AT EVERY HIGHER LEVELS, STOCK SPECIFIC MOVEMENT MAY BE SEEN ONE SHOULD CONCENTRATE MORE ON HIGH QUALITY MIDCAP STOCKS. IF NIFTY BELOW 4920 THEN 4890 AND TRADE BELOW 4890 WOULD LEAD NIFTY TO 4865 AND THEN TO 4823 AND ON THE UPSIDE IF NIFTY TRADES ABOVE 4975 THEN WE CAN SEE NIFTY TO MOVE UP TO 5035 AND TRADE ABOVE THIS LEVEL WOULD LEAD TO 5080. OVERALL MARKET LOOKS WEAK AT THIS STAGE ONE NEEDS TO BE VERY CAUTIOUS BEFORE GOING ON POSITIVE SIDE. WE WOULD SUGGEST TO REMAIN OUT OF BUYING POSITIONS IN HUGE COUNTERS AND HUGE QUANTITIES AND WOULD SUGGEST YOU TO ENTER ONLY STOCK SPECIFIC AND WITH LESS QUANTITY OF SHARES
SELL TATAMOTORS SL 553 TGT 530/520/511
SELL STERLITE SL 812 TGT 776/764
SELL PNB SL 832 TGT 807/798/789
SELL ABAN AROUND 1605 SL 1616 TGT 1581/ 1565/1550
