GOOD MORNING!!!
THE PAST TRADING SESSIONS WERE ABSOLUTE GAINS FOR MANY OF THE INDICES STOCKS WHICH HAS PULLED THE KEY INDICES TO MUCH HIGHER ZONES OF MULTIPLE MONTHS, LAST TRADING SESSION WAS WEAK WITH GLOBAL CUES AND LOWER US INDEX FUTURES WHICH HAS UNDERPINNED THE SENTIMENT ON THE DOMESTIC BOURSES. AUTO HAS DRIFTED DOWN FOR THE STRAIGHT THIRD DAY AND IT LOST ITS GROUND AFTER A STRAIGHT FEW MONTHS RALLY WITH THE DECLINE IN THE DOLLAR AND RISE IN THE RUPEE VALUE. RELIANCE WAS FIRM ON TALKS OF FUND RAISING BY THE COMPANY THROUGH SALE OF TREASURE SHARES APART FROM THE RECENT 2,675 CRORES IS REPORTEDLY LOOKING TO GENERATE SIMILAR AMOUNT OVER THE NEXT FEW WEEKS BY SELLING MORE STOCK TO INSTITUTIONAL INVESTORS AND THE SATE WOULD BE OFFERED AT DISCOUNT OF 2 TO 4% AS PART OF A STRATEGY TO BEEF UP ITS CASH RESERVE.
TODAY MARKETS MAY OPEN POSITIVE WITH FEW STOCKS GIVING GOOD BREAKOUTS. THE ONLY CONCERN IS THE RELIANCE INDUSTRIES WITH THE RUMOURS OF SOME CONSPIRACY IN THE ACCIDENT OF THE DEAD OF DR.YS RAJASEKHAR REDDY MAY HAVE SOME WEAKNESS WHICH INTURN MAY LEAD THE MARKET LITTLE WEAKER. IF NIFTY TRADES ABOVE 5258 ON THE CLOSING BASIS THEN THE ONE CAN HOLD ON THEIR LONGS AND BELOW THIS POINT ONE CAN TAKE SHORT POSITIONS. ON INTRADAY TERMS IF NIFTY TRADES ABOVE 5270 THEN LIKELY TO 5285 AND THEN TO 5307 AND ANYTHING ABOVE 5307 LIKELY TO TOUCH 5338 AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5250 THEN ONE CAN TAKE SHORT POSITION FOR TARGETS 5234 AND THEN TO 5219 AND BREAK BELOW WOULD LEAD TO 5205 ANY BREAK BELOW THIS POINT IN INTRADAY TERMS IS WEAK AND ONE CAN RETAIN THEIR SHORTS FOR THE NEXT TRADING SESSION. TODAY TEXTILES AND FINANCIAL SECTOR LOOKS GOOD
BUY ABAN SL 1414 TGT 1461/1480
BUY SIEMENS FUTURES SL 607 TGT 624/638/650
BUY ABB SL 774 TGT 794/808/822
BUY ARVIND MILLS SL 41.4 TGT 44/46
BUY ALOK SL 24 TGT 27.5/29.3
SELL HEROHONDA SL 1648 TGT 1610/1591
TODAY MARKETS MAY OPEN POSITIVE WITH FEW STOCKS GIVING GOOD BREAKOUTS. THE ONLY CONCERN IS THE RELIANCE INDUSTRIES WITH THE RUMOURS OF SOME CONSPIRACY IN THE ACCIDENT OF THE DEAD OF DR.YS RAJASEKHAR REDDY MAY HAVE SOME WEAKNESS WHICH INTURN MAY LEAD THE MARKET LITTLE WEAKER. IF NIFTY TRADES ABOVE 5258 ON THE CLOSING BASIS THEN THE ONE CAN HOLD ON THEIR LONGS AND BELOW THIS POINT ONE CAN TAKE SHORT POSITIONS. ON INTRADAY TERMS IF NIFTY TRADES ABOVE 5270 THEN LIKELY TO 5285 AND THEN TO 5307 AND ANYTHING ABOVE 5307 LIKELY TO TOUCH 5338 AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5250 THEN ONE CAN TAKE SHORT POSITION FOR TARGETS 5234 AND THEN TO 5219 AND BREAK BELOW WOULD LEAD TO 5205 ANY BREAK BELOW THIS POINT IN INTRADAY TERMS IS WEAK AND ONE CAN RETAIN THEIR SHORTS FOR THE NEXT TRADING SESSION. TODAY TEXTILES AND FINANCIAL SECTOR LOOKS GOOD
BUY ABAN SL 1414 TGT 1461/1480
BUY SIEMENS FUTURES SL 607 TGT 624/638/650
BUY ABB SL 774 TGT 794/808/822
BUY ARVIND MILLS SL 41.4 TGT 44/46
BUY ALOK SL 24 TGT 27.5/29.3
SELL HEROHONDA SL 1648 TGT 1610/1591
