GOOD MORNING!!!
MARKETS INITIALLY THOUGH RANGE BOUND TOOK OFF WITH GOOD VOLUMES ON THE POSITIVE SIDE AND OVER ALL THOUGH OUT THE DAY MARKET REMAINED POSITIVE AND AFTER, RESERVE BANK OF INDIA ANNOUNCED CAPITAL FLOWS INTO INDIA ARE IN LINE WITH REQUIREMENT AND AS OF NOW THERE IS NO CONCERN OF THE FLOWS BUILDING ASSET PRICE BUBBLES AND THE NEW OVERSEAS BORROWING NORMS ARE PART OF INDIA'S CAPITAL ACCOUNT MANAGEMENT AND THEY DO NOT INDICATE CAPITAL CONTROL, MARKET REMAINED FIRM THROUGH OUT THE DAY. TELECOM STOCKS JUMPED AFTER THE GOVERNMENT ALLOWED FOREIGN BORROWING TO FUND 3G SPECTRUM FEES. FMCG STOCKS FELL. BUT, METAL, BANKING AND CAPITAL GOODS STOCKS ROSE.
TODAY MARKET LOOKS RANGE BOUND WITH POSITIVE OUTLOOK ONCE IT CROSSES 5155. ON INTRADAY BASIS IF NIFTY TRADES ABOVE 5155 THEN IT IS EVIDENT IT MAY GO UP TO 5192 LEVEL AND BREAK ABOVE 5165 LEVELS WOULD TAKE NIFTY TO 5265 IN A VERY SHORT TIME, ONE CAN STAY POSITIONALLY LONG IN NIFTY IF NIFTY CLOSES ABOVE 5165 LEVELS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5111 THEN IT IS EVIDENT THAT NIFTY WOULD COME DOWN TO 5070 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 5003 THOUGH A MINOR SUPPORT EXISTS AROUND 5040 LEVEL BUT VOLUME SELLING WOULD NOT BE SUPPORTED AT 5040 LEVELS. ONE IS ADVISED TO STAY SHORT ONCE NIFTY BREAKS 5070 LEVELS. TAKE CLOSE WATCH ON BANKING SECTOR AND PHARMA.
BUY ICICIBANK SL 869 TGT 880/888/895
BUY CHAMBAL FERT SL 57 TGT 61/63.2
BUY ICSA SL 184 TGT 194/196.3/201.6
BUY UCO BANK SL 58.4 TGT 61.25/62.70
BUY LT SL 1669 TGT 1704/1721
MARKETS INITIALLY THOUGH RANGE BOUND TOOK OFF WITH GOOD VOLUMES ON THE POSITIVE SIDE AND OVER ALL THOUGH OUT THE DAY MARKET REMAINED POSITIVE AND AFTER, RESERVE BANK OF INDIA ANNOUNCED CAPITAL FLOWS INTO INDIA ARE IN LINE WITH REQUIREMENT AND AS OF NOW THERE IS NO CONCERN OF THE FLOWS BUILDING ASSET PRICE BUBBLES AND THE NEW OVERSEAS BORROWING NORMS ARE PART OF INDIA'S CAPITAL ACCOUNT MANAGEMENT AND THEY DO NOT INDICATE CAPITAL CONTROL, MARKET REMAINED FIRM THROUGH OUT THE DAY. TELECOM STOCKS JUMPED AFTER THE GOVERNMENT ALLOWED FOREIGN BORROWING TO FUND 3G SPECTRUM FEES. FMCG STOCKS FELL. BUT, METAL, BANKING AND CAPITAL GOODS STOCKS ROSE.
TODAY MARKET LOOKS RANGE BOUND WITH POSITIVE OUTLOOK ONCE IT CROSSES 5155. ON INTRADAY BASIS IF NIFTY TRADES ABOVE 5155 THEN IT IS EVIDENT IT MAY GO UP TO 5192 LEVEL AND BREAK ABOVE 5165 LEVELS WOULD TAKE NIFTY TO 5265 IN A VERY SHORT TIME, ONE CAN STAY POSITIONALLY LONG IN NIFTY IF NIFTY CLOSES ABOVE 5165 LEVELS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5111 THEN IT IS EVIDENT THAT NIFTY WOULD COME DOWN TO 5070 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 5003 THOUGH A MINOR SUPPORT EXISTS AROUND 5040 LEVEL BUT VOLUME SELLING WOULD NOT BE SUPPORTED AT 5040 LEVELS. ONE IS ADVISED TO STAY SHORT ONCE NIFTY BREAKS 5070 LEVELS. TAKE CLOSE WATCH ON BANKING SECTOR AND PHARMA.
BUY ICICIBANK SL 869 TGT 880/888/895
BUY CHAMBAL FERT SL 57 TGT 61/63.2
BUY ICSA SL 184 TGT 194/196.3/201.6
BUY UCO BANK SL 58.4 TGT 61.25/62.70
BUY LT SL 1669 TGT 1704/1721
