GOOD MORNING!!!
ITS AN UNEXPECTED MOVE TO START MARKETS FROM 9 AM FOR THE TRADING FRATERNITY, THIS NEW YEAR BRINGS IN LITTLE SURPRISE OF EXTENSION OF TIMINGS FOR ALL THE STOCK EXCHANGES FOR 55 MINUTES WITH EARLY HOURS FROM 9 AM TO 3:30 PM. IN THE LAST TRADING SESSION, THE KEY BENCHMARK INDICES ATTAINED THEIR HIGHEST CLOSING LEVEL IN NEARLY 20 MONTHS. VOLATILITY SURGED IN LATE TRADE AS TRADERS ROLLED OVER POSITIONS IN THE DERIVATIVES SEGMENT, TO JANUARY 2010 SERIES FROM THE NEAR-MONTH DECEMBER 2009 SERIES OVERALL IT WAS VERY GOOD IN TERMS OF SECTORIAL INDICIES, AS ALMOST ALL THE SECTORS HAVE GAINED EXCEPT FOR FMCG, HEALTH CARE AND REALITY. NATIONAL ALUMINIUM HAS OUTPERFORMED IN THE LAST TRADING SESSION. OVERALL THE BREADTH OF THE MARKET REMAINED POSITIVE.
TODAY MARKET WOULD BE POSITIVE WITH NIFTY HAS A RESISTANCE AT 5250 ABOVE THIS POINT NIFTY MAY MOVE UP TO 5284 AND CLOSING ABOVE THIS POINT WOULD LEAD NIFTY TO NEW HIGHS I.E., TO 5400 AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5164 THEN WOULD DRAG NIFTY TO 5133 AND TRADE BELOW THIS LEVEL WOULD LEAD TO 5106 ANY CLOSE BELOW THIS POINT WOULD MAKE A LOT OF DIFFERENCE AS NIFTY MAY TRIAL DOWN MUCH MORE THAN ANTICIPATED. AUTO, CEMENT AND STEEL WOULD OUT PERFORM, THESE SECTORS WILL FOCUS IN THE FIRST TRADING WEEK OF 2010 AS COMPANIES UNVEIL THEIR SALES DATA FOR DECEMBER 2009. WE EXPECT STEEL SHARES MAY GET A BOOST FROM A LIKELY HIKE IN STEEL PRICES IN THE NEW YEAR. WE MAY SEE BANKING SECTOR TO MOVE UP TODAY IN THE MARKETS.
BUY SBI SL 2239 TGT 2287/2299/2331
BUY M&M SL 1074 TGT 1093/1100
BUY IOB SL 107 TGT 114.9/118.80/121
BUY SAIL SL 237 TGT 246/252
POSITIONAL TRADES
BUY HSIL AT 89 TGT 100%/200%
