INDICIES HAVE GIVEN UP SOME PART OF THEIR GAINS AFTER A STRAIGHT 7 DAY RALLY ON THE BOURSES, INTEREST RATE SENSITIVE SECTORS BANKING, AUTO AND REALTY STOCKS LED SLIDE IN THE MARKET IN A HIGHLY VOLATILE TRADING SESSION. DAY'S HIGH AND UP CLOSE TO 120 POINTS FROM THE DAY'S LOW. NIFTY CLOSED BELOW 5000 AND STOCKS FELL DESPITE STRONG INDUSTRIAL PRODUCTION DATA. THE MARKET BREADTH WAS WEAK THOUGH THE STRUCTURE OF THE MARKET STILL REMAINS STRONG.
TODAY MARKETS LOOKS RANGE BOUND TO NEGATIVELY BIASED WITH GLOBAL CUES TRADING IN NEGATIVE TERRITORY. ONE HAS TO BE VERY CAUTIOUS ON THE LONGS WITH STRICT STOPLOSS. IT IS ADVISED TO TRADE LESS WITH STRICT STOPLOSS ON INTRADAY BASIS UNTIL THE LEVEL SPECIFIED BELOW ARE SURPASSED OR BREACHED. TODAY IF NIFTY TRADES BELOW 4937 THEN IT WILL TAKE NIFTY TO 4877 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 4820 AND NIFTY WOULD TAKE SUPPORT AROUND 4800. AND ON THE POSITIVE FRONT IF NIFTY TRADES ABOVE 4978 IT MAY TAKE NIFTY TO 5010 BREAK ABOVE THIS WOULD TAKE NIFTY TO 5072. AIRLINES STOCKS LOOKING POSITIVE AND REALITY LOOKING WEAK ALONG WITH BANKING.
SELL BANK INDIA SL 364 TGT 358/352
SELL DLF SL 373 TGT 365/362/358
SELL BHARAT FORGE SL 269 TGT 260/254/250
SELL FEDERAL BANK SL 234 TGT 226/221/217
SELL MARUTI SL 1431 TGT 1398/1386/1375
SELL JINDALSAW BELOW 765 POSITIONALLY ON CLOSING BASIS
TODAY MARKETS LOOKS RANGE BOUND TO NEGATIVELY BIASED WITH GLOBAL CUES TRADING IN NEGATIVE TERRITORY. ONE HAS TO BE VERY CAUTIOUS ON THE LONGS WITH STRICT STOPLOSS. IT IS ADVISED TO TRADE LESS WITH STRICT STOPLOSS ON INTRADAY BASIS UNTIL THE LEVEL SPECIFIED BELOW ARE SURPASSED OR BREACHED. TODAY IF NIFTY TRADES BELOW 4937 THEN IT WILL TAKE NIFTY TO 4877 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 4820 AND NIFTY WOULD TAKE SUPPORT AROUND 4800. AND ON THE POSITIVE FRONT IF NIFTY TRADES ABOVE 4978 IT MAY TAKE NIFTY TO 5010 BREAK ABOVE THIS WOULD TAKE NIFTY TO 5072. AIRLINES STOCKS LOOKING POSITIVE AND REALITY LOOKING WEAK ALONG WITH BANKING.
SELL BANK INDIA SL 364 TGT 358/352
SELL DLF SL 373 TGT 365/362/358
SELL BHARAT FORGE SL 269 TGT 260/254/250
SELL FEDERAL BANK SL 234 TGT 226/221/217
SELL MARUTI SL 1431 TGT 1398/1386/1375
SELL JINDALSAW BELOW 765 POSITIONALLY ON CLOSING BASIS
SELL ABAN BELOW 1215 POSITIONALLY ON CLOSING BASIS
KEEP AN EYE ON JET AIRWAYS AND KFA ON POSITIVE SIDE
NOTE: GO SHORT ONLY IF THE ABOVE STOCKS ARE NEGATIVE OR EVEN DURING THE DAY IF THEY COME NEGATIVE
KEEP AN EYE ON JET AIRWAYS AND KFA ON POSITIVE SIDE
NOTE: GO SHORT ONLY IF THE ABOVE STOCKS ARE NEGATIVE OR EVEN DURING THE DAY IF THEY COME NEGATIVE
