GOOD MORNING!!!
INDICES SLUMPED TO HIT FRESH DAY'S LOW IN LATE TRADE. REALTY, METAL, AUTO AND CAPITAL GOODS STOCKS FELL. THE MARKET WAS VOLATILE. THE MARKET EDGED LOWER IN EARLY TRADE ON WEAK ASIAN STOCKS. THE MARKET CUT LOSSES AFTER HITTING FRESH INTRADAY LOW IN MORNING TRADE. THE MARKET MOVED BETWEEN POSITIVE AND NEGATIVE ZONE NEAR THE FLAT LINE IN EARLY AFTERNOON TRADE. THE MARKET WEAKENED ONCE AGAIN IN AFTERNOON TRADE. MARKET SLUMPED TO HIT FRESH DAY'S LOW IN LATE TRADE. AS PER REPORTS, INDIAN FIRMS PAID 24% MORE IN ADVANCE TAX FOR THE OCTOBER-DECEMBER 2009 YEAR-ON-YEAR, SUGGESTING HIGHER PROFIT GROWTH AS ECONOMIC RECOVERY PICKED UP PACE. TOP 100 FIRMS' ADVANCE TAX PAYMENTS WERE UP MORE THAN 30% IN THE DECEMBER 2009 QUARTER.
TODAY MARKETS LOOKS VOLATILE AND RANGE BOUND, ONE CAN TAKE LONG POSITIONS IF NIFTY IS ABOVE 4940 AND ANY CLOSE BELOW 4940 IS CONSIDERED TO BE VERY WEAK AND NIFTY EXPECTED TO DECLINE MUCH FURTHER THAN ANTICIPATED, IT CAN TOUCH 4800, ON INTRADAY TERMS NIFTY IF BREAKS 4940 THEN WE CAN SEE NIFTY TO TAKE SUPPORTS AT THE FOLLOWING LEVELS 4917 AND BREAK BELOW THIS WOULD TAKE SUPPORT AT 4893. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 4952 THEN IT IS LIKELY TO TOUCH 4966 TRADE ABOVE THIS LEVEL WOULD TAKE NIFTY TO 4980 AND BREAK ABOVE THIS POINT WILL TAKE NIFTY TO 5003 WHICH IS AGAIN A GOOD RESISTANCE.
TODAY MARKETS LOOKS VOLATILE AND RANGE BOUND, ONE CAN TAKE LONG POSITIONS IF NIFTY IS ABOVE 4940 AND ANY CLOSE BELOW 4940 IS CONSIDERED TO BE VERY WEAK AND NIFTY EXPECTED TO DECLINE MUCH FURTHER THAN ANTICIPATED, IT CAN TOUCH 4800, ON INTRADAY TERMS NIFTY IF BREAKS 4940 THEN WE CAN SEE NIFTY TO TAKE SUPPORTS AT THE FOLLOWING LEVELS 4917 AND BREAK BELOW THIS WOULD TAKE SUPPORT AT 4893. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 4952 THEN IT IS LIKELY TO TOUCH 4966 TRADE ABOVE THIS LEVEL WOULD TAKE NIFTY TO 4980 AND BREAK ABOVE THIS POINT WILL TAKE NIFTY TO 5003 WHICH IS AGAIN A GOOD RESISTANCE.
BUY KRBL SL 219 TGT 228/236/240.8
BUY AXISBANK ABOVE 957 SL 949 TGT 965/977/985
BUY NTPC SL 208 TGT 210/211.5
SELL HINDALCO SL 138.8 TGT 132/129.40
SELL RECLTD SL 229.70 TGT 226/224/220/80
