INDICES EXTENDED GAINS TO HIT FRESH INTRADAY HIGHS AT THE FAG END OF THE TRADING SESSION ON FIRM EUROPEAN STOCKS. COMMENTS BY THE DEPUTY CHAIRMAN OF THE GOVERNMENT'S PLANNING COMMISSION THAT THE GOVERNMENT IS NOT CONSIDERING IMPOSING A TAX TO CURB AN INFLUX IN OVERSEAS FUNDS ALSO HELPED EASE WORRIES OF LIKELY MEASURES FROM POLICYMAKER TO STEM INFLOWS. INITIALLY THE MARKET OPENED IN RED AND RECOVERED LITTLE IN THE MORNING SESSION AND PROVED TO BE SHORT LIVED, MARKET NOSE DIVED TO TOUCH OUR TARGETS OF 4937 AS TOLD AND THERE AFTER MARKET RECOVERED IN THE MID AFTERNOON FROM LOWER LEVELS WITH MORE INTENSE BUYING GIVING NO ROOM TO SHORT SELLERS AND HAS HIT OUR UPPER TARGETS AS GIVEN.
TODAY MARKETS WOULD BE RANGE BOUND UNTIL THE LEVELS ARE BREACHED. THIS IS THE FIRST DAY OF LAST WEEK FOR THE SETTLEMENT OF FNO EXPIRY. THERE MAY BE LOT OF VOLATILITY IN THE WEEK AHEAD. NIFTY HAS BREACHED GOOD RESISTANCE LEVEL AND CLOSING OF NIFTY IS CONSIDERED TO BE GOOD AND NIFTY CAN BE CONSIDERED BULLISH IF IT CLOSES ABOVE 5085. ON THE CLOSING BASIS IF NIFTY CLOSES ABOVE 5085 IS A SIGN OF FURTHER UPMOVE TO 5159. AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5034 THEN WOULD COME DOWN TO 4998 AND BELOW THIS WE CAN SEE NIFTY TO SLIDE DOWN TO 4947 AND THEN TO 4911 SO ONE HAS TO BEAR IN MIND THAT 5085 IS A STRONG RESISTANCE AND CLOSING ABOVE THIS WOULD TAKE NIFTY SERIOUSLY UPSIDE SO STAY CAUTIOUS WITH THIS LEVEL. WATCH BANKING SECTOR.
BUY ACC SL 753 TGT 779/788/804
BUY TATASTEEL SL 545 TGT 560/565
BUY RANBAXY SL 419 TGT 430/434/438
BUY IDBI SL 126 TGT 129/130.70
SELL WELSPUN SL 285 TGT 274/267
SELL TITAN BELOW 1352 SL 1367 TGT 1330/132
POSITIONAL TRADES
BUY BHARTI SHIPYARD @ 165 TGT 200/250 (MEDIUM TERM/LONG TERM)
BUY GVKPIL TGT 65 (SHORT TERM)
BUY PROVOGUE TGT 76 (SHORT TERM)
TODAY MARKETS WOULD BE RANGE BOUND UNTIL THE LEVELS ARE BREACHED. THIS IS THE FIRST DAY OF LAST WEEK FOR THE SETTLEMENT OF FNO EXPIRY. THERE MAY BE LOT OF VOLATILITY IN THE WEEK AHEAD. NIFTY HAS BREACHED GOOD RESISTANCE LEVEL AND CLOSING OF NIFTY IS CONSIDERED TO BE GOOD AND NIFTY CAN BE CONSIDERED BULLISH IF IT CLOSES ABOVE 5085. ON THE CLOSING BASIS IF NIFTY CLOSES ABOVE 5085 IS A SIGN OF FURTHER UPMOVE TO 5159. AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5034 THEN WOULD COME DOWN TO 4998 AND BELOW THIS WE CAN SEE NIFTY TO SLIDE DOWN TO 4947 AND THEN TO 4911 SO ONE HAS TO BEAR IN MIND THAT 5085 IS A STRONG RESISTANCE AND CLOSING ABOVE THIS WOULD TAKE NIFTY SERIOUSLY UPSIDE SO STAY CAUTIOUS WITH THIS LEVEL. WATCH BANKING SECTOR.
BUY ACC SL 753 TGT 779/788/804
BUY TATASTEEL SL 545 TGT 560/565
BUY RANBAXY SL 419 TGT 430/434/438
BUY IDBI SL 126 TGT 129/130.70
SELL WELSPUN SL 285 TGT 274/267
SELL TITAN BELOW 1352 SL 1367 TGT 1330/132
POSITIONAL TRADES
BUY BHARTI SHIPYARD @ 165 TGT 200/250 (MEDIUM TERM/LONG TERM)
BUY GVKPIL TGT 65 (SHORT TERM)
BUY PROVOGUE TGT 76 (SHORT TERM)
