GOOD MORNING!!!
INDICES HAVE TAKEN AN UP MOVE IN A VERY VOLATILE SESSION ON THE RISE OF EUROPEAN AND US INDEX FUTURES AND INDICES. IT AND METALS WERE THE STAR PERFORMERS OF THE DAY, BANKING STOCKS AND REALITY WERE NEGATIVE AND OVERALL THE MARKET BREADTH WAS WEAK. THE VOLATILITY ON THE INDICES WAS VERY HIGH, MARKET KEPT HOVERING IN POSITIVE AND NEGATIVE TERRITORY WITH A VERY NARROW RANGE BOUND UNTIL IT HAS BROKEN 5040 LEVELS. MANY INDIAN FIRMS HAVE REPORTEDLY PAID HIGHER ADVANCE TAX IN THE THIRD INSTALLMENT. AS PER MEDIA REPORTS, TATA MOTORS HAS PAID RS 100 CRORE IN THIRD QUARTER VERSUS NIL PAYMENT IN THE SAME PERIOD LAST YEAR. MAHINDRA & MAHINDRA PAID RS 195 CRORE VERSUS RS 4.5 CRORE. TATA STEEL PAID RS 650 CRORE VERSUS RS 260 CRORE. HINDALCO INDUSTRIES PAID RS 100 CRORE VERSUS RS 40 CRORE. HINDUSTAN UNILEVER PAID RS 200 CRORE VERSUS RS 155 CRORE, LARSEN & TOUBRO PAID RS 270 CRORE VERSUS RS 210 CRORE, GRASIM INDUSTRIES Q3 ADVANCE TAX AT RS 150 CRORE VERSUS RS 75 CRORE, ULTRATECH CEMENT PAID RS 90 CRORE VERSUS RS 65 CRORE, HDFC'S Q3 ADVANCE TAX WAS AT RS 320 CRORE VERSUS RS 280 CRORE. BAJAJ AUTO PAID RS 320 CRORE VERSUS RS 105 CRORE. THE COUNTRY'S LARGEST PRIVATE SECTOR COMPANY RELIANCE INDUSTRIES PAID RS 850 CRORE, VERSUS 450 CRORE YEAR-AGO PERIOD. TATA CONSULTANCY SERVICES' Q3 ADVANCE TAX WAS AT RS 177 CRORE VERSUS RS 129 CRORE. ACC'S Q3 ADVANCE TAX WAS AT RS 110 CRORE VERSUS RS 125 CRORE. HDFC BANK'S Q3 ADVANCE TAX JUMPED TO RS 400 CRORE FROM RS 300 CRORE. STATE BANK OF INDIA Q3 ADVANCE TAX WAS AT RS 1795 CRORE VERSUS RS 1700 CRORE. ICICI BANK'S Q3 ADVANCE TAX FELL TO RS 301 CRORE VERSUS RS 625 CRORE. OVERALL THE ONLY WORRY IN THE MARKET IS MONETARY POLICY WHICH MAY COME IN THIS MONTH. WITH INFLATION SURGING, RBI MAY TIGHTEN THE MONITORY POLICY THIS MONTH.
TODAY MARKET LOOKS RANGE BOUND. IF NIFTY TRADES ABOVE 5050 THEN ONE CAN SEE NIFTY TO SURGE UP TO 5070 AND TRADE ABOVE 5070 WITH VOLUMES THEN WE CAN SEE NIFTY TO TOUCH 5100 AND SEE SOME RESISTANCE AT 5110 AND ANY BREAK ABOVE THIS LEVEL WOULD TAKE NIFTY TO 5165 LEVELS. ON THE DOWNSIDE IF NIFTY TRADES BELOW 5040 THEN IT CAN COME DOWN TO 5003 AND TRADE BELOW 5000 ONE CAN SEE NIFTY TO HAVE A GOOD SUPPORT AT 4940 AND BREAK BELOW THIS LEVEL CAN SEE HEAVY SELLING IN NIFTY IN COMING DAYS. ONE IS ADVISED TO STAY LONG ABOVE 5111 AND SHORT BELOW 4940 ON CLOSING BASIS AND ON INTRADAY ONE CAN FOLLOW THE ABOVE LEVELS.
BUY STERLIGBIO SL 97 TGT 102.70/106.95/110.40
BUY ESSAR OIL SL 133 TGT 138/140/144
BUY IREAL SL 202 TGT 211/215/220
BUY ADSL TGT 234/240/246
BUY M&M SL 1040 TGT 1065/1074/1094
BUY ACC SL 850 TGT 869/878
INDICES HAVE TAKEN AN UP MOVE IN A VERY VOLATILE SESSION ON THE RISE OF EUROPEAN AND US INDEX FUTURES AND INDICES. IT AND METALS WERE THE STAR PERFORMERS OF THE DAY, BANKING STOCKS AND REALITY WERE NEGATIVE AND OVERALL THE MARKET BREADTH WAS WEAK. THE VOLATILITY ON THE INDICES WAS VERY HIGH, MARKET KEPT HOVERING IN POSITIVE AND NEGATIVE TERRITORY WITH A VERY NARROW RANGE BOUND UNTIL IT HAS BROKEN 5040 LEVELS. MANY INDIAN FIRMS HAVE REPORTEDLY PAID HIGHER ADVANCE TAX IN THE THIRD INSTALLMENT. AS PER MEDIA REPORTS, TATA MOTORS HAS PAID RS 100 CRORE IN THIRD QUARTER VERSUS NIL PAYMENT IN THE SAME PERIOD LAST YEAR. MAHINDRA & MAHINDRA PAID RS 195 CRORE VERSUS RS 4.5 CRORE. TATA STEEL PAID RS 650 CRORE VERSUS RS 260 CRORE. HINDALCO INDUSTRIES PAID RS 100 CRORE VERSUS RS 40 CRORE. HINDUSTAN UNILEVER PAID RS 200 CRORE VERSUS RS 155 CRORE, LARSEN & TOUBRO PAID RS 270 CRORE VERSUS RS 210 CRORE, GRASIM INDUSTRIES Q3 ADVANCE TAX AT RS 150 CRORE VERSUS RS 75 CRORE, ULTRATECH CEMENT PAID RS 90 CRORE VERSUS RS 65 CRORE, HDFC'S Q3 ADVANCE TAX WAS AT RS 320 CRORE VERSUS RS 280 CRORE. BAJAJ AUTO PAID RS 320 CRORE VERSUS RS 105 CRORE. THE COUNTRY'S LARGEST PRIVATE SECTOR COMPANY RELIANCE INDUSTRIES PAID RS 850 CRORE, VERSUS 450 CRORE YEAR-AGO PERIOD. TATA CONSULTANCY SERVICES' Q3 ADVANCE TAX WAS AT RS 177 CRORE VERSUS RS 129 CRORE. ACC'S Q3 ADVANCE TAX WAS AT RS 110 CRORE VERSUS RS 125 CRORE. HDFC BANK'S Q3 ADVANCE TAX JUMPED TO RS 400 CRORE FROM RS 300 CRORE. STATE BANK OF INDIA Q3 ADVANCE TAX WAS AT RS 1795 CRORE VERSUS RS 1700 CRORE. ICICI BANK'S Q3 ADVANCE TAX FELL TO RS 301 CRORE VERSUS RS 625 CRORE. OVERALL THE ONLY WORRY IN THE MARKET IS MONETARY POLICY WHICH MAY COME IN THIS MONTH. WITH INFLATION SURGING, RBI MAY TIGHTEN THE MONITORY POLICY THIS MONTH.
TODAY MARKET LOOKS RANGE BOUND. IF NIFTY TRADES ABOVE 5050 THEN ONE CAN SEE NIFTY TO SURGE UP TO 5070 AND TRADE ABOVE 5070 WITH VOLUMES THEN WE CAN SEE NIFTY TO TOUCH 5100 AND SEE SOME RESISTANCE AT 5110 AND ANY BREAK ABOVE THIS LEVEL WOULD TAKE NIFTY TO 5165 LEVELS. ON THE DOWNSIDE IF NIFTY TRADES BELOW 5040 THEN IT CAN COME DOWN TO 5003 AND TRADE BELOW 5000 ONE CAN SEE NIFTY TO HAVE A GOOD SUPPORT AT 4940 AND BREAK BELOW THIS LEVEL CAN SEE HEAVY SELLING IN NIFTY IN COMING DAYS. ONE IS ADVISED TO STAY LONG ABOVE 5111 AND SHORT BELOW 4940 ON CLOSING BASIS AND ON INTRADAY ONE CAN FOLLOW THE ABOVE LEVELS.
BUY STERLIGBIO SL 97 TGT 102.70/106.95/110.40
BUY ESSAR OIL SL 133 TGT 138/140/144
BUY IREAL SL 202 TGT 211/215/220
BUY ADSL TGT 234/240/246
BUY M&M SL 1040 TGT 1065/1074/1094
BUY ACC SL 850 TGT 869/878
