GOOD MORNING!!!
WEAK GLOBAL STOCKS WEIGHED ON INVESTOR SENTIMENT ALONG WITH PROFIT BOOKING HAS LED THE INDICES TO THE LOWER LEVELS. METAL AND BANKING STOCKS LED THE DECLINE WHILE IT STOCKS ROSE. INTRADAY VOLATILITY WAS HIGH. THE MARKET RECOVERED SOON AFTER AN INITIAL SLIDE CAUSED BY WEAK ASIAN STOCKS BUT COULD NOT WITHSTAND THE HIGHER LEVELS. INDICES ARE ALMOST AT THE YEAR HIGHS AND INVESTORS ARE TO WORRY ABOUT, DOWNGRADED RATINGS FOR GREECE AND A RAFT OF DUBAI GOVERNMENT-CONTROLLED COMPANIES. ONE IS ADVISED TO STAY VERY CAUTIOUS IN THIS MARKET BUT ONE SHOULD BE WITH THE TREND.
TODAY MARKETS WOULD BE RANGE BOUND. IF NIFTY TRADES ABOVE 5111 THEN IT IS LIKELY TO TAKE TO 5140 AND TRADE ABOVE THIS LEVEL WITH VOLUMES WE MAY SEE NIFTY TO GO TO 5165 WHERE IT MAY FACE A STRONG RESISTANCE BUT BREAK ABOVE THIS LEVEL WOULD TAKE NIFTY TO NEW HIGHS OF THE YEAR AND ONE HAS TO SEE THIS LEVEL AS VERY CRUCIAL. AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5097 THEN IT IS EVIDENT THAT IT WILL PHASE SOME SUPPORT AT 5070 BUT BREAK BELOW THIS LEVEL WOULD TAKE IT TO 5040 WHERE IT WILL HAVE A SLIGHT SUPPORT IF THIS LEVEL IS BROKEN IT WILL COME DOWN TO 5003. METALS LOOKS WEAK.
WEAK GLOBAL STOCKS WEIGHED ON INVESTOR SENTIMENT ALONG WITH PROFIT BOOKING HAS LED THE INDICES TO THE LOWER LEVELS. METAL AND BANKING STOCKS LED THE DECLINE WHILE IT STOCKS ROSE. INTRADAY VOLATILITY WAS HIGH. THE MARKET RECOVERED SOON AFTER AN INITIAL SLIDE CAUSED BY WEAK ASIAN STOCKS BUT COULD NOT WITHSTAND THE HIGHER LEVELS. INDICES ARE ALMOST AT THE YEAR HIGHS AND INVESTORS ARE TO WORRY ABOUT, DOWNGRADED RATINGS FOR GREECE AND A RAFT OF DUBAI GOVERNMENT-CONTROLLED COMPANIES. ONE IS ADVISED TO STAY VERY CAUTIOUS IN THIS MARKET BUT ONE SHOULD BE WITH THE TREND.
TODAY MARKETS WOULD BE RANGE BOUND. IF NIFTY TRADES ABOVE 5111 THEN IT IS LIKELY TO TAKE TO 5140 AND TRADE ABOVE THIS LEVEL WITH VOLUMES WE MAY SEE NIFTY TO GO TO 5165 WHERE IT MAY FACE A STRONG RESISTANCE BUT BREAK ABOVE THIS LEVEL WOULD TAKE NIFTY TO NEW HIGHS OF THE YEAR AND ONE HAS TO SEE THIS LEVEL AS VERY CRUCIAL. AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5097 THEN IT IS EVIDENT THAT IT WILL PHASE SOME SUPPORT AT 5070 BUT BREAK BELOW THIS LEVEL WOULD TAKE IT TO 5040 WHERE IT WILL HAVE A SLIGHT SUPPORT IF THIS LEVEL IS BROKEN IT WILL COME DOWN TO 5003. METALS LOOKS WEAK.
BUY SATYAM SL 99 TGT 106/109
BUY HDIL SL 339 TGT 352/358
BUY MARUTI SL 1594 TGT 1628/1645/1668
SELL STER SL 844 TGT 824/818
SELL TATASTEEL SL 551 TGT 538/532
POSITIONAL TRADES
BUY FRESHTROP FRUITS AT 39 TGT 55/76
