GOOD MORNING!!!
KEY BENCHMARK INDICES INITIAL SURGE TRIGGERED BY FIRM GLOBAL STOCKS THEIR AFTER EXTENDED LOSSES FOR THE FIFTH DAY IN A ROW. A WEAK DEBUT OF POWER UTILITY INDIABULLS POWER WEIGHED ON THE INVESTOR SENTIMENT, TELECOM STOCKS FELL, INDEX HEAVY WEIGHT RELIANCE INDUSTRIES AND ONGC WAS DOWN AS INVESTORS REACTED TO THEIR EARNINGS. THE MARKET BREADTH, INDICATING THE OVERALL HEALTH OF THE MARKET WAS WEAK. INTRADAY VOLATILITY WAS IMMENSE. RESULTS OF AUTO SECTOR WERE COMMENDABLE.
TODAY MARKET EVEN IF IT OPENS POSITIVE ON GLOBAL QUES MAY NOT WITH STAND FOR A LONGER TIME DURING THE DAY AS THE INDEX HAS BREACHED THE MAJOR SUPPORT LEVEL OF 4740 WHICH MAY TAKE NIFTY TO FURTHER DOWNSIDE, EVEN IF NIFTY MOVES UP IT MAY BE SHORT LIVED AND NIFTY IS LIKELY TO TEST MUCH LOWER LEVELS THAN EXPECTED. TODAY IF NIFTY TRADES BELOW 4704 THEN IT IS LIKELY TO TEST 4654 AND BREAK BELOW THIS LEVEL WOULD SEE SOME SUPPORT AT 4591 AND THERE AFTER 4384 IN SHORT TERM. AND ON THE POSITIVE FRONT AVOID LONGS AT ANY COST FOR POSITIONAL AND ON INTRADAY BASIS ONE IS ADVISED TO GO LONG WITH STRICT STOPLOSS ABOVE THE LEVELS SPECIFIED. ONLY STOCK SPECIFIC MOVES EXPECTED. IF NIFTY TRADES ABOVE 4740 ONE IS EXPECTED TO GO LONG FOR A TARGET OF 4791 AND DON’T HOLD ANY POSITIONAL LONGS OVER NIGHT. POWER LOOKING VERY WEAK ALONG WITH TELECOM.
BUY STER ABOVE 781 SL 765 TGT 801/811/824
BUY FSL SL 33.40 TGT 35.7/36.4
BUY KTK BANK ABOVE 140 SL 136.8 TGT 141.7/143.8/146.5
SELL BHARTI SL 297.5 TGT 285/281/276
SELL RELINFRA SL 1058 TGT 1041/1036/1021
TODAY MARKET EVEN IF IT OPENS POSITIVE ON GLOBAL QUES MAY NOT WITH STAND FOR A LONGER TIME DURING THE DAY AS THE INDEX HAS BREACHED THE MAJOR SUPPORT LEVEL OF 4740 WHICH MAY TAKE NIFTY TO FURTHER DOWNSIDE, EVEN IF NIFTY MOVES UP IT MAY BE SHORT LIVED AND NIFTY IS LIKELY TO TEST MUCH LOWER LEVELS THAN EXPECTED. TODAY IF NIFTY TRADES BELOW 4704 THEN IT IS LIKELY TO TEST 4654 AND BREAK BELOW THIS LEVEL WOULD SEE SOME SUPPORT AT 4591 AND THERE AFTER 4384 IN SHORT TERM. AND ON THE POSITIVE FRONT AVOID LONGS AT ANY COST FOR POSITIONAL AND ON INTRADAY BASIS ONE IS ADVISED TO GO LONG WITH STRICT STOPLOSS ABOVE THE LEVELS SPECIFIED. ONLY STOCK SPECIFIC MOVES EXPECTED. IF NIFTY TRADES ABOVE 4740 ONE IS EXPECTED TO GO LONG FOR A TARGET OF 4791 AND DON’T HOLD ANY POSITIONAL LONGS OVER NIGHT. POWER LOOKING VERY WEAK ALONG WITH TELECOM.
BUY STER ABOVE 781 SL 765 TGT 801/811/824
BUY FSL SL 33.40 TGT 35.7/36.4
BUY KTK BANK ABOVE 140 SL 136.8 TGT 141.7/143.8/146.5
SELL BHARTI SL 297.5 TGT 285/281/276
SELL RELINFRA SL 1058 TGT 1041/1036/1021
SELL RPOWER SL 143 TGT 134/131/126**
POSITIONAL TRADE
BUY INTERFIT TECHNO PRODUCT AT 10.5 WITHOUT STOPLOSS TGT 25/50 ****(MUST BUY)
