GOOD MORNING!!!

MARKETS WERE VERY RANGE BOUND, THERE WAS SOME PROFIT BOOKING ON THE TWO STRAIGHT DAY GAINS, PROFIT TAKING WAS TRIGGERED BY EUROPEAN MARKETS SLIDING DOWN FROM HIGHS. MARKETS ARE AT A GREAT RESISTANCE POINT AND AFTER A SURGE IN INDEX ON A VERY STRAIGHT NOTE MARKET IS EXPECTED TO CONSOLIDATE AT THIS STAGE TO FURTHER MOVE UP OR DECLINE IN THE FORM OF RETRACEMENT AND PROFIT BOOKING. ONE IS ADVISED TO STAY CAUTIOUS ON THE TRADING FRONT. ONE HAS TO BEAR IN MIND THAT 5165 IS THE CRUCIAL RESISTANCE AND CLOSING ABOVE THIS POINT MEANS THAT MARKET IS EXPECTED TO MOVE FURTHER 100 POINTS FROM THERE AND ONE IS ADVISED TO CLOSE SHORTS IF ANY.
TODAY MARKET WOULD BE RANGE BOUND, IF NIFTY TRADES BELOW 5111 THEN IT IS LIKELY TO TOUCH 5070 LEVELS BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 5040 AND 5003. ON THE UPSIDE IF NIFTY TRADES ABOVE 5140 THEN IT IS LIKELY TO TOUCH 5165 AND TRADING ABOVE THIS ZONE IS A POSITIVE SIGN AND ANY CLOSE ABOVE THIS POINT WOULD LEAD MARKETS TO 4265 LEVELS.
BUY RANBAXY SL 485 TGT 500/508
BUY DISHTV SL 41.90 TGT 43.50/44
BUY IDBI SL 131.20 TGT 133.5/135/137
BUY PATEL ENGINEERING SL 472.9 TGT 485/490/496
BUY TATA CHEMICALS SL 302 TGT 311.6/314/318
BUY SYNDICATE BANK SL 98.75 TGT 102/104/106
SELL TATAPOWER SL 1356 TGT 1333/1321/1306
SELL ORIENT BANK SL 283 TGT 274/272.5/266
POSITIONAL TRADES

BUY INDIA GLYCOLS TGT 185/200