GOOD MORNING!!!
BUYING AT CLOSING OF THE MARKETS IN INDEX PIVOTALS PROPELLED KEY BENCHMARK INDICES TO FRESH INTRADAY HIGHS. CURTAINING OF DUBAIS FINANCE WOES HAVE TRIGGERED ALL THE EUROPE, ASIA AND US MARKETS TO A FRESH INTRADAY HIGHS AND ROBUST NOVEMBER AUTO SALES NUMBERS ADDED TO THE POSITIVE SENTIMENT TRIGGERED BY BETTER-THAN-EXPECTED GDP DATA, HELPING THE INDIAN INDICES REGAIN THE PSYCHOLOGICAL 17,000 AND 5000 MARK. EXPORTS FELL 6.6% TO $13.19 BILLION IN OCTOBER 2009 OVER OCTOBER 2008, THEIR 13TH STRAIGHT MONTHLY FALL. IMPORTS DROPPED 15% FROM A YEAR EARLIER TO $22 BILLION. THE TRADE DEFICIT SHRUNK TO $8.8 BILLION IN OCTOBER 2009 FROM $11.74 BILLION A YEAR EARLIER. EXPORTS FOR APRIL-OCTOBER, THE FIRST SEVEN MONTHS OF THE 2009-10 FISCAL YEAR, WERE DOWN 26% AT $91.05 BILLION FROM THE SAME PERIOD IN THE PREVIOUS YEAR. THE LATEST NUMBERS DO INDICATE THAT INDUSTRY AND SERVICES ARE GROWING VERY STRONGLY, THIS COULD HELP OFFSET TO A VERY LARGE EXTENT THE IMPACT OF THE DECLINE IN AGRICULTURAL PRODUCTION. MEANWHILE, DUBAI WORLD, THE HOLDING COMPANY AT THE HEART OF THE DUBAI CRISIS, ON MONDAY ANNOUNCED A RESTRUCTURING PLAN INVOLVING $26 BILLION IN DEBT. HOWEVER, THE DUBAI GOVERNMENT SAID IT WAS NOT RESPONSIBLE FOR DUBAI WORLD'S DEBTS, DEALING A BLOW TO CREDITORS' ASSUMPTIONS THAT THE ARAB EMIRATE WOULD GUARANTEE THE GOVERNMENT-CONTROLLED CONGLOMERATE'S LIABILITIES. DUBAI WORLD, ONE OF THE EMIRATE'S MAIN STATE HOLDING COMPANIES, LAST WEEK, ASKED FOR A DELAY ON MATURITIES UNTIL AT LEAST 30 MAY 2010. THE COMPANY HAS TOTAL DEBTS OF $59 BILLION, INCLUDING $3.52 BILLION OF ISLAMIC BONDS DUE 14 DECEMBER 2009 FROM ITS PROPERTY UNIT NAKHEEL. AUTO STOCKS RALLIED FOLLOWING ROBUST MONTHLY SALES IN NOVEMBER 2009.
TODAY IF NIFTY TRADES ABOVE 5139 THEN IT WOULD TOUCH 5165 THIS IS ONE OF THE MOST CRUCIAL RESISTANCE IN NIFTY, IF NIFTY BREAKS THIS LEVEL AND CLOSES THEN NIFTY WILL TOUCH 5270 LEVEL. IF NIFTY CLOSES ABOVE 5165 THEN WE CAN TAKE A FRESH LONG POSITIONS IN NIFTY AND ONE HAS TO REMEMBER IF NIFTY TRADES BELOW THIS LEVEL THEN WITH THIS AS STOPLOSS ONE CAN GO SHORT AS WELL BUT ONLY WHEN THE JOURNEY IS TOWARDS DOWN AND NOT ON THE UPWARD JOURNEY. IF NIFTY TRADES BELOW 5111 THEN WOULD TAKE NIFTY TO 5070 LEVELS AND BREAK BELOW THIS LEVEL WOULD TAKE MUCH MORE DOWN SIDE TO 5040.
BUY TATA MOTORS SL 699 TGT 714/719
BUY M&M SL 1069 TGT 1094/1104
BUY IBREAL SL 208 TGT 218/222/229
BUY HCC SL 139.9 TGT 146/150
BUY DLF SL SL 367 TGT 380/384
BUY RELCAP SL 849 TGT 884/890
TODAY IF NIFTY TRADES ABOVE 5139 THEN IT WOULD TOUCH 5165 THIS IS ONE OF THE MOST CRUCIAL RESISTANCE IN NIFTY, IF NIFTY BREAKS THIS LEVEL AND CLOSES THEN NIFTY WILL TOUCH 5270 LEVEL. IF NIFTY CLOSES ABOVE 5165 THEN WE CAN TAKE A FRESH LONG POSITIONS IN NIFTY AND ONE HAS TO REMEMBER IF NIFTY TRADES BELOW THIS LEVEL THEN WITH THIS AS STOPLOSS ONE CAN GO SHORT AS WELL BUT ONLY WHEN THE JOURNEY IS TOWARDS DOWN AND NOT ON THE UPWARD JOURNEY. IF NIFTY TRADES BELOW 5111 THEN WOULD TAKE NIFTY TO 5070 LEVELS AND BREAK BELOW THIS LEVEL WOULD TAKE MUCH MORE DOWN SIDE TO 5040.
BUY TATA MOTORS SL 699 TGT 714/719
BUY M&M SL 1069 TGT 1094/1104
BUY IBREAL SL 208 TGT 218/222/229
BUY HCC SL 139.9 TGT 146/150
BUY DLF SL SL 367 TGT 380/384
BUY RELCAP SL 849 TGT 884/890
