GOOD MORNING!!!
KEY INDICES EXTENDED GAINS FOR THE FOURTH STRAIGHT SESSION ON SUSTAINED BUYING, INDICES HELD AT THEIR HIGHEST LEVEL IN 19 MONTHS. GLOBAL CUES WERE POSITIVE WITH EUROPEAN STOCKS AND MOST ASIAN MARKETS TRADING FIRM. VOLATILITY ROSE AS TRADING PROGRESSED. THE MARKET BREADTH WAS STRONG. POWER GENERATION STOCKS WITNESSED AN ACROSS THE BOARD RALLY ON FRESH BUYING. TELECOM SHARES GAINED. HOWEVER, SOFTWARE PIVOTALS ALSO DECLINED ON PROFIT BOOKING AFTER A RECENT STRONG UPMOVE WHICH HAD PROPELLED SOME OF THE COUNTERS TO A 52-WEEK HIGH. AUTO STOCKS WERE MIXED. HEAVYWEIGHTS RELIANCE INDUSTRIES AND ICICI BANK ROSE. A SELL-OFF PULLED THE MARKET OFF THE HIGHER LEVEL IN LATE TRADE.
TODAY WE MAY SEE NIFTY TO BE RANGE BOUND WITH HIGH VOLATILITY AND STOCK SPECIFIC MOVES. IF NIFTY TRADES ABOVE 5200 THEN WE MAY LIKELY TO HEAD TOWARDS 5222 AND THEN TO 5250 LEVELS AND IF IT TRADES ABOVE 5250 WE MAY SEE NIFTY TO MOVE UP TO 5270 THIS IS CONSIDERED TO BE CRUCIAL RESISTANCE AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5190 THEN LIKELY TO HEAD TO 5160 AND THEN TO 5120 LEVELS AND ANY BREAK BELOW 5120 WILL DRAG NIFTY TO 5058 LEVELS. IF NIFTY CLOSES BELOW 5190 LEVELS IT IS ADVISED TO EXIT POSITIONS AS WE MAY SEE HIGHLY VOLATILE SESSION TOMORROW AS WELL AHEAD OF EXPIRY AND CLOSING BELOW 5120 WE MAY WITNESS HIGH SELLING.
NIFTY BELOW 5190 SL 5198 TGT 5179/5167/ 5159/5147
NIFTY ABOVE 5198 SL 5190 TGT 5210/5222/5228/5240
BUY HCC SL 145 TGT 152/155
BUY TINPLATE SL 68 TGT 75/77
BUY MOSERBAER SL 84 TGT 87.5/88.6
BUY SWISS GLASSCOAT SL 37 TGT 43/45
BUY KINGFISHER SL 59.4 TGT 62.4/63.6 (CAN HOLD POSITIONALLY IF CLOSES ABOVE 63.6)
BUY ONWARD TECHNOLOGIES LTD TGT 46 (CAN HOLD POSITIONALLY FOR A TGT OF 100%/150%/200%)
TODAY WE MAY SEE NIFTY TO BE RANGE BOUND WITH HIGH VOLATILITY AND STOCK SPECIFIC MOVES. IF NIFTY TRADES ABOVE 5200 THEN WE MAY LIKELY TO HEAD TOWARDS 5222 AND THEN TO 5250 LEVELS AND IF IT TRADES ABOVE 5250 WE MAY SEE NIFTY TO MOVE UP TO 5270 THIS IS CONSIDERED TO BE CRUCIAL RESISTANCE AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5190 THEN LIKELY TO HEAD TO 5160 AND THEN TO 5120 LEVELS AND ANY BREAK BELOW 5120 WILL DRAG NIFTY TO 5058 LEVELS. IF NIFTY CLOSES BELOW 5190 LEVELS IT IS ADVISED TO EXIT POSITIONS AS WE MAY SEE HIGHLY VOLATILE SESSION TOMORROW AS WELL AHEAD OF EXPIRY AND CLOSING BELOW 5120 WE MAY WITNESS HIGH SELLING.
NIFTY BELOW 5190 SL 5198 TGT 5179/5167/ 5159/5147
NIFTY ABOVE 5198 SL 5190 TGT 5210/5222/5228/5240
BUY HCC SL 145 TGT 152/155
BUY TINPLATE SL 68 TGT 75/77
BUY MOSERBAER SL 84 TGT 87.5/88.6
BUY SWISS GLASSCOAT SL 37 TGT 43/45
BUY KINGFISHER SL 59.4 TGT 62.4/63.6 (CAN HOLD POSITIONALLY IF CLOSES ABOVE 63.6)
BUY ONWARD TECHNOLOGIES LTD TGT 46 (CAN HOLD POSITIONALLY FOR A TGT OF 100%/150%/200%)
