GOOD MORNING!!!
INDICES INDICES EXTENDED LOSSES IN LATE TRADE TRACKING WEAK EUROPEAN STOCKS AND LOWER US INDEX FUTURES. INTRADAY VOLATILITY WAS HIGH. METAL STOCKS TUMBLED ON DECLINE IN METAL PRICES ON THE LONDON METAL EXCHANGE. BANKING, AUTO AND REALTY STOCKS ALSO FELL.
TODAY MARKET LOOKS RANGE BOUND TO NEGATIVELY BIASED AS THE ASIAN STOCKS ON THE WEAKER SIDE ALONG WITH AMERICAN INDICES FLAT. WE WILL SEE A NEGATIVE OPENING IN THE MARKET TODAY AND IF NIFTY TRADES BELOW 5070 THEN IT IS LIKELY TO TAKE A SUPPORT AT 5040 AND BREAK BELOW THIS LEVEL WE CAN SEE NIFTY TO SLIDE DOWN TO 5003 AND BELOW THIS LEVEL WE CAN SEE NIFTY TO TOUCH 4940 LEVELS THIS IS THE STRONGEST SUPPORT FOR NIFTY. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5111 THEN WE CAN SEE NIFTY TO SURGE UP TO 5140 AND THEN TO 5165. KEEP AN EYE ON RELIANCE GROUP.
BUY PIRAMAL HEALTH SL 414 TGT 428/434/442
BUY PFC SL 264 TGT 272/276/279
BUY SUZLON SL 80 TGT 85.60/90
SELL CAIRN SL 277 TGT 266/262
SELL STER SL 865 TGT 837/818
SELL SAIL SL 211 TGT 200/196
SELL RPOWER SL 149 TGT 141/137
