GOOD MORNING!!!
INDICES HAVE RECOVERED HUGE INTRADAY LOSSES AFTER EUROPEAN STOCKS RECOVERED AFTER THE OPENING. NEWS THAT CHINA HAS PLEDGED TO STICK WITH A PRO-GROWTH STANCE IN 2010 ALSO HELPED. THE MARKET RECOVERY AFTER A HEAVY SELL-OFF EARLIER. BROADER FEARS THAT GLOBAL FINANCIAL MARKETS HAVE NOT HEALED PROPERLY SINCE LAST YEAR'S CRISIS, AND THAT THE DUBAI PROBLEM COULD EXPOSE THESE WEAKNESSES. INTRADAY VOLATILITY WAS HIGH. INDIA AND THE UNITED ARAB EMIRATES (UAE), OF WHICH DUBAI IS A MEMBER, ARE SEPARATED BY THE ARABIAN SEA AND CLOSELY LINKED BY THE MILLIONS OF INDIANS WHO WORK IN THE REGION. INDIANS MAKE UP ABOUT 40% OF THE UAE'S POPULATION, ACCOUNTING FOR 10% TO 12% OF INDIA'S INWARD REMITTANCES, THE UAE WAS THE SECOND-BIGGEST EXPORT DESTINATION FOR INDIA DURING THE NINE MONTHS THROUGH DECEMBER 2008, ACCOUNTING FOR $14.6 BILLION, OR 11.15% OF INDIA'S TOTAL. ANOTHER IMPORTANT MATTER OF CONCERN IN THE PRESENT SITUATION IS THE FOOD PRICE INDEX WHICH ROSE 15.58% AND PRIMARY ARTICLE INDEX ROSE 11.04% IN 12 MONTHS TO 14 NOVEMBER 2009,
TODAY MARKETS WOULD POSITIVE WITH RANGE BOUND AND THE HEALTH OF THE MARKET STILL IN A BEARISH PHASE ON A POSITIONAL BASIS ONE HAS TO LOOK ABOVE POINTS IN VIEW BEFORE TAKING ANY POSITIONS BUT THE TREND AS OF NOW REMAINS POSITIVE ON INTRADAY TERMS BUT ONE HAS TO TAKE PROFITS AT REGULAR INTERVALS. TODAY IF NIFTY TRADES ABOVE 5011 THEN MARKET WOULD GO TO 5070 ONE CAN GO LONG INITIALLY FOR A TARGET OF 5011 IN THE MARKET BUT ABOVE THIS LEVEL IF NIFTY HOLDS WITH VOLUMES THEN IT IS EVIDENT THAT WE SEE NIFTY TO TOUCH 5070. ON THE DOWN SIDE IF NIFTY TRADES BELOW 4939 ONLY THEN ONE CAN GO SHORT FOR AN IMMEDIATE TARGET OF 4843.
BUY RELCAP SL 824.7 TGT 846
BUY SUZLON SL 72 TGT 75/79
BUY JSW STEEL SL 932 TGT 942/960/977
BUY DLF SL 342 TGT 350/355
TODAY MARKETS WOULD POSITIVE WITH RANGE BOUND AND THE HEALTH OF THE MARKET STILL IN A BEARISH PHASE ON A POSITIONAL BASIS ONE HAS TO LOOK ABOVE POINTS IN VIEW BEFORE TAKING ANY POSITIONS BUT THE TREND AS OF NOW REMAINS POSITIVE ON INTRADAY TERMS BUT ONE HAS TO TAKE PROFITS AT REGULAR INTERVALS. TODAY IF NIFTY TRADES ABOVE 5011 THEN MARKET WOULD GO TO 5070 ONE CAN GO LONG INITIALLY FOR A TARGET OF 5011 IN THE MARKET BUT ABOVE THIS LEVEL IF NIFTY HOLDS WITH VOLUMES THEN IT IS EVIDENT THAT WE SEE NIFTY TO TOUCH 5070. ON THE DOWN SIDE IF NIFTY TRADES BELOW 4939 ONLY THEN ONE CAN GO SHORT FOR AN IMMEDIATE TARGET OF 4843.
BUY RELCAP SL 824.7 TGT 846
BUY SUZLON SL 72 TGT 75/79
BUY JSW STEEL SL 932 TGT 942/960/977
BUY DLF SL 342 TGT 350/355
