GOOD MORNING!!!
THE INDICES CUT LOSSES AFTER HITTING FRESH INTRADAY DAY LOW IN LATE TRADE. INTRADAY VOLATILITY WAS HIGH. WEAK GLOBAL MARKETS AND RISE IN HEADLINE INFLATION TO ABOVE 1% MARK, WEIGHED ON INVESTOR’S SENTIMENT. SENSEX FELL BELOW THE PSYCHOLOGICAL 17,000 MARK AFTER REGAINING THAT LEVEL IN MID-MORNING TRADE FOR A SHORT WHILE. NIFTY PROVISIONALLY CLOSED BELOW THE PSYCHOLOGICAL 5,000 MARK AFTER ALTERNATIVELY MOVING ABOVE AND BELOW THAT LEVEL IN LATE TRADE. THE MARKET BREADTH WAS WEAK IN CONTRAST TO A POSITIVE BREADTH EARLIER IN THE DAY. INDEX HEAVYWEIGHT RELIANCE INDUSTRIES DIPPED AS THE HEARING ON A GAS DISPUTE WITH RELIANCE NATURAL RESOURCES (RNRL) CONTINUES IN THE SUPREME COURT. BANK STOCKS FELL AFTER MOODY'S INVESTORS SERVICES ON WEDNESDAY DOWNGRADED THE SUPPORTED RATINGS OF 13 INDIAN COMMERCIAL BANKS AFTER ITS GLOBAL REVIEW OF SYSTEMIC SUPPORT INDICATORS FOR INDIVIDUAL BANKING SYSTEMS. CAPITAL GOODS, METAL AND REALTY STOCKS ALSO FELL.
TODAY MARKETS WOULD OPEN POSITIVE WITH GLOBAL QUES MOVING VERY POSITIVE, MARKET IS EXPECTED TO REMAIN VERY VOLATILE AND RANGE BOUND. IF NIFTY TRADES ABOVE 5018 THEN IS EXPECTED TO REACH 5043 (1ST TARGET) AND TRADE ABOVE 5043 (2ND TARGET) WITH GOOD VOLUMES IT WILL REACH 5082 (3RD TARGET) TRADE WITH REDUCED VOLUMES WHEN YOU HAVE ATTAINED EACH TARGET. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 4990 THEN IT WILL IMMEDIATELY TAKE SUPPORT AT 4960 (1ST TARGET) BREAK AND TRADE BELOW THIS LEVEL WOULD TAKE NIFTY TO 4920 (2ND TARGET) THIS IS ONE OF THE CRUCIAL SUPPORT FOR NIFTY, IF 4920 IS BROKEN WE CAN EXPECT NIFTY TO TOUCH 4800 IN A VERY SHORT TIME.
BUY TATA MOTORS ABOVE 442 TGT 456/462/470BUY HCL TECH SL 324 TGT 334/339
BUY ITC SL 246 TGT 250/256
BUY BANK INDIA SL 445 TGT 460/466
BUY EDUCOMP SL 4429 TGT 4506/4628/4705
