GOOD MORNING!!!
VOLATILITY WAS IMMENSE WITH KEY INDICES MOVING UP AND DOWN FOR THE ENTIRE DAY. A SHARP SLIDE IN CHINESE STOCKS AND WEAK EUROPEAN MARKETS WEIGHED ON INVESTOR SENTIMENT ALONG WITH FNO EXPIRY NEARING. INDEX HEAVYWEIGHT RELIANCE INDUSTRIES (RIL) FELL. METAL AND FMCG STOCKS ALSO FELL. BUT IT STOCKS GAINED. THE MARKET BREADTH WAS NEGATIVE, COMPARED TO A STRONG BREADTH IN EARLY TRADE. BANK STOCKS LED DECLINE IN WORLD STOCKS AFTER GLOBAL RATING AGENCY STANDARD & POOR'S SAID ON MONDAY IT FOUND MOST BANKS IN A GLOBAL STUDY WERE WEAKLY CAPITALIZED, WITH CITIGROUP, UBS AND MIZUHO FINANCIAL GROUP MORE THAN TWO-THIRDS BELOW THE AVERAGE. MANY GLOBAL STOCK INVESTORS HAVE TURNED CAUTIOUS HEADING INTO THE YEAR-END, WANTING TO LOCK IN PROFITS AFTER A VERY GOOD RUN IN 2009
TODAY MARKET WOULD BE HIGHLY VOLATILE AS THE FNO EXPIRY IS TOMORROW. MARKETS ARE AT A VERY CRUCIAL PHASE OF RESISTANCE SO ONE HAS TO BE VERY CAUTIOUS ON THE UPSIDE. WE WOULD SUGGEST TO AVOID HUGE VOLUMES TILL FNO EXPIRY. TODAY MARKET MAY BE WEAK AS THE CLOSING WAS WEAKER ALONG WITH THE GLOBAL QUES SHOWING NEGATIVE TO FLAT. NIFTY MAY PHASE A TOUGH RESISTANCE AT THESE LEVELS. TODAY IF NIFTY TRADES BELOW 5073 THEN WILL TAKE NIFTY TO 5045 AND TRADING BELOW THIS LEVEL NIFTY WOULD TOUCH 5020 LEVELS BUT BREACH BELOW 5000 WOULD TAKE NIFTY ON THE NEGATIVE FRONT. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5073 THEN WE CAN SEE NIFTY TO TOUCH 5096 AND TRADE ABOVE THIS LEVEL WOULD TAKE NIFTY TO 5124.
BUY M&M SL 1059 TGT 1080/1089
BUY ESCORTS SL 111 TGT 119.7/122/124.9
BUY LANCO ABOVE 570 SL 564 TGT 574/579/584
SELL JINDAL STEEL SL 711 TGT 698/695/680
SELL ABAN BELOW 1348 SL 1366 TGT 1333/1316/1301
SELL JINDAL SAW SL 901 TGT 877/856/831TODAY MARKET WOULD BE HIGHLY VOLATILE AS THE FNO EXPIRY IS TOMORROW. MARKETS ARE AT A VERY CRUCIAL PHASE OF RESISTANCE SO ONE HAS TO BE VERY CAUTIOUS ON THE UPSIDE. WE WOULD SUGGEST TO AVOID HUGE VOLUMES TILL FNO EXPIRY. TODAY MARKET MAY BE WEAK AS THE CLOSING WAS WEAKER ALONG WITH THE GLOBAL QUES SHOWING NEGATIVE TO FLAT. NIFTY MAY PHASE A TOUGH RESISTANCE AT THESE LEVELS. TODAY IF NIFTY TRADES BELOW 5073 THEN WILL TAKE NIFTY TO 5045 AND TRADING BELOW THIS LEVEL NIFTY WOULD TOUCH 5020 LEVELS BUT BREACH BELOW 5000 WOULD TAKE NIFTY ON THE NEGATIVE FRONT. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5073 THEN WE CAN SEE NIFTY TO TOUCH 5096 AND TRADE ABOVE THIS LEVEL WOULD TAKE NIFTY TO 5124.
BUY M&M SL 1059 TGT 1080/1089
BUY ESCORTS SL 111 TGT 119.7/122/124.9
BUY LANCO ABOVE 570 SL 564 TGT 574/579/584
SELL JINDAL STEEL SL 711 TGT 698/695/680
SELL ABAN BELOW 1348 SL 1366 TGT 1333/1316/1301
POSITIONAL TRADES
BUY SUNSHIELD CHEMICAL (530845) TGT 100
BUY UNI ABEX ALLOYS (504605) TGT 300/450/600
BUY MEDICAMEN BIOTECH LTD (531146) TGT 45
