GOOD MORNING!!!
WITH CHINEESE INDEX NOSE DIVING OUR MARKETS INCHED LOWER AND LOWER FROM THE LATE AFTERNOON TRADE ALONG WITH EUROPEAN SHARES TUMBLING. THE SELL-OFF ACROSS THE GLOBE HAS BEEN TRIGGERED BY OVER FOUR PERCENT CUTS IN THE CHINA'S BENCHMARK EQUITY INDEX (SHANGHAI COMPOSITE). THE BULLS LOOKED IN A DETRIMENTAL POSITION AS THE ENTIRE SECTORAL SPACE WAS DOMINATED BY THE BEARS. METAL, OIL & GAS AND REALTY SHARES WERE THE MAJOR LOSERS. BEARS COMPLETELY CAPTIVATED THE MARKETS RIGHT FROM THE INITIAL TRADE AND ADDING FUEL TO THE FIRE ALL THE OTHER MAJOR GLOBAL INDICIES STARTED DECLINING HAS SUPPORTED THE FALL AT EVERY LEVEL IN THE MARKET, THERE WAS GOOD SELLING SEEN ALL OVER THE INDICES, BEARS HAVE DOMINATED THE MARKETS OVER BULLS. OVERALL HEALTH OF THE MARKET TURNED WEAK WITH DECLINES MORE THAN ADVANCES.
TODAY MARKETS WOULD REMAIN NEGATIVE AND OPEN GAP DOWN AND TRADE BELOW 5240 LEVELS AND IF NIFTY TRADES BELOW 5240 LEVELS THEN LIKELY TO COME DOWN TO 5204 AND ANY TRADE BELOW 5200 IS LIKELY TO GET WEAKER AND NIFTY LIKLEY TO COME DOWN TO 5167 LEVELS. ON THE POSITIVE FRONT IF NIFTY TRADES ABOVE 5276 LEVELS MAY LIKELY TO MOVE UP TO 5300 LEVELS AND IF NIFTY TRADES ABOVE 5300 THEN MAY HEAD TOWARDS MUCH HIGHER ZONES WHICH IS REMOTE AT THIS STAGE.
SELL ICICI BANK SL 853 TGT 839/829/822
BUY PFC ABOVE 297 SL 295.4 TGT 299/303/305
BUY BPCL SL 620 TGT 642/651/659 (BUY AT LOWER LEVEL)
BUY JM FINANCIAL SL 34 TGT 39/41/43 (BUY AT LOWER LEVELS)
POSITIONAL TRADES
BUY TATACHEM TGT 360/385 (EVERY DIP IS A BUYING OPPORTUNITY)
BUY NATCOPHARM TGT 225/270
BUY BGRENERGY TGT 975
BUY AMARAJABAT TGT 200/215
WITH CHINEESE INDEX NOSE DIVING OUR MARKETS INCHED LOWER AND LOWER FROM THE LATE AFTERNOON TRADE ALONG WITH EUROPEAN SHARES TUMBLING. THE SELL-OFF ACROSS THE GLOBE HAS BEEN TRIGGERED BY OVER FOUR PERCENT CUTS IN THE CHINA'S BENCHMARK EQUITY INDEX (SHANGHAI COMPOSITE). THE BULLS LOOKED IN A DETRIMENTAL POSITION AS THE ENTIRE SECTORAL SPACE WAS DOMINATED BY THE BEARS. METAL, OIL & GAS AND REALTY SHARES WERE THE MAJOR LOSERS. BEARS COMPLETELY CAPTIVATED THE MARKETS RIGHT FROM THE INITIAL TRADE AND ADDING FUEL TO THE FIRE ALL THE OTHER MAJOR GLOBAL INDICIES STARTED DECLINING HAS SUPPORTED THE FALL AT EVERY LEVEL IN THE MARKET, THERE WAS GOOD SELLING SEEN ALL OVER THE INDICES, BEARS HAVE DOMINATED THE MARKETS OVER BULLS. OVERALL HEALTH OF THE MARKET TURNED WEAK WITH DECLINES MORE THAN ADVANCES.
TODAY MARKETS WOULD REMAIN NEGATIVE AND OPEN GAP DOWN AND TRADE BELOW 5240 LEVELS AND IF NIFTY TRADES BELOW 5240 LEVELS THEN LIKELY TO COME DOWN TO 5204 AND ANY TRADE BELOW 5200 IS LIKELY TO GET WEAKER AND NIFTY LIKLEY TO COME DOWN TO 5167 LEVELS. ON THE POSITIVE FRONT IF NIFTY TRADES ABOVE 5276 LEVELS MAY LIKELY TO MOVE UP TO 5300 LEVELS AND IF NIFTY TRADES ABOVE 5300 THEN MAY HEAD TOWARDS MUCH HIGHER ZONES WHICH IS REMOTE AT THIS STAGE.
SELL ICICI BANK SL 853 TGT 839/829/822
BUY PFC ABOVE 297 SL 295.4 TGT 299/303/305
BUY BPCL SL 620 TGT 642/651/659 (BUY AT LOWER LEVEL)
BUY JM FINANCIAL SL 34 TGT 39/41/43 (BUY AT LOWER LEVELS)
POSITIONAL TRADES
BUY TATACHEM TGT 360/385 (EVERY DIP IS A BUYING OPPORTUNITY)
BUY NATCOPHARM TGT 225/270
BUY BGRENERGY TGT 975
BUY AMARAJABAT TGT 200/215
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