GOOD MORNING!!!
IT WAS A STRAIGHT SECOND DAY OF POSITIVE MARKETS IN THE NEW YEAR. WITH ASIAN STOCKS ON A POSITIVE NOTE. METAL STOCKS SOARED AS BASE METAL PRICES SURGED ON THE LONDON METAL EXCHANGE ON MONDAY, 4 JANUARY 2010. REALTY AND BANKING STOCKS, ALSO CONTRIBUTED TO LEAD NIFTY TO NEW HIGHS. THE MARKET BREADTH WAS STRONG, THOUGH THE MARKET REMAINED RANGE BOUND IN MORNING TRADE AND MOVED IN A VERY NARROW RANGE IT LATER SURGED HITTING A NEW HIGH ON THE INDICES.
MARKETS STILL REMAIN IN POSITIVE TERRITORY AND ONE HAS TO SEE THAT MARKET IS NOT YET READY FOR GOING SHORTS SO AVOID SPECULATIVE TRADING AT THIS JUNCTURE AS IT MAY MAKE A DECEPTIVE MOVE SO WAIT FOR AN OPPORTUNITY AS THERE IS A VERY BIG ROOM FOR ENTERING AND I WOULD ADVISE EACH AND EVERYONE NOT TO TRY CATCHING THE WAVE AT THE BEGINNING AS IT INVOLVES LOT OF RISK TRY TO MINIMIZE IT AND TRADE WITH THE TREAD. IF NIFTY TRADES ABOVE 5284 THEN IT IS EXPECTED TO BREAK PREVIOUS HIGHS AND TRADING ABOVE 5300 WE CAN SEE NIFTY TO TOUCH 5350 LEVELS AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5270 THEN WE CAN SEE NIFTY TO 5256 AND THEN TO 5233 IF NIFTY TRADES LOWER THAN 5200 THEN IT IS ADVISED TO EXIT ALL YOUR LONGS AND STAY AWAY AND SHORT ONLY IF NIFTY CLOSES BELOW 5197 LEVELS AND DON’T SHORT AGGRESSIVELY SHORT ONLY 50% OF THE QTY OF WHAT YOU CAN SHORT.
BUY OPTOCIRCUITS SL 236.6 TGT 242/244/246
BUY SCI SL 158.5 TGT 164/166
BUY JINDALSTEEL SL 725 TGT 733.4/740/748
BUY RPOWER SL 159 TGT 163/165
BUY PARSVNATH SL 127.4 TGT 132/135/137
BUY ESSAR OIL SL 149 TGT 155/157/160
IT WAS A STRAIGHT SECOND DAY OF POSITIVE MARKETS IN THE NEW YEAR. WITH ASIAN STOCKS ON A POSITIVE NOTE. METAL STOCKS SOARED AS BASE METAL PRICES SURGED ON THE LONDON METAL EXCHANGE ON MONDAY, 4 JANUARY 2010. REALTY AND BANKING STOCKS, ALSO CONTRIBUTED TO LEAD NIFTY TO NEW HIGHS. THE MARKET BREADTH WAS STRONG, THOUGH THE MARKET REMAINED RANGE BOUND IN MORNING TRADE AND MOVED IN A VERY NARROW RANGE IT LATER SURGED HITTING A NEW HIGH ON THE INDICES.
MARKETS STILL REMAIN IN POSITIVE TERRITORY AND ONE HAS TO SEE THAT MARKET IS NOT YET READY FOR GOING SHORTS SO AVOID SPECULATIVE TRADING AT THIS JUNCTURE AS IT MAY MAKE A DECEPTIVE MOVE SO WAIT FOR AN OPPORTUNITY AS THERE IS A VERY BIG ROOM FOR ENTERING AND I WOULD ADVISE EACH AND EVERYONE NOT TO TRY CATCHING THE WAVE AT THE BEGINNING AS IT INVOLVES LOT OF RISK TRY TO MINIMIZE IT AND TRADE WITH THE TREAD. IF NIFTY TRADES ABOVE 5284 THEN IT IS EXPECTED TO BREAK PREVIOUS HIGHS AND TRADING ABOVE 5300 WE CAN SEE NIFTY TO TOUCH 5350 LEVELS AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5270 THEN WE CAN SEE NIFTY TO 5256 AND THEN TO 5233 IF NIFTY TRADES LOWER THAN 5200 THEN IT IS ADVISED TO EXIT ALL YOUR LONGS AND STAY AWAY AND SHORT ONLY IF NIFTY CLOSES BELOW 5197 LEVELS AND DON’T SHORT AGGRESSIVELY SHORT ONLY 50% OF THE QTY OF WHAT YOU CAN SHORT.
BUY OPTOCIRCUITS SL 236.6 TGT 242/244/246
BUY SCI SL 158.5 TGT 164/166
BUY JINDALSTEEL SL 725 TGT 733.4/740/748
BUY RPOWER SL 159 TGT 163/165
BUY PARSVNATH SL 127.4 TGT 132/135/137
BUY ESSAR OIL SL 149 TGT 155/157/160
