GOOD MORNING!!!
THE MARKET MAY SEE STOCK-SPECIFIC ACTION THIS WEEK AS THIRD QUARTER RESULT SEASON KICKS OFF. BESIDES CORPORATE RESULTS, MARKET PARTICIPANTS WILL BE KEENLY WATCHING INDIA'S INDUSTRIAL PRODUCTION DATA, GOVERNMENT DATA ON INDUSTRIAL PERFORMANCE FOR NOVEMBER 2009, AS MEASURED BY THE INDEX OF INDUSTRIAL PRODUCTION (IIP), WILL BE UNVEILED ON 12 JANUARY 2010 AND MONTHLY INFLATION DATA, INFLATION DATA FOR DECEMBER 2009 IS DUE ON 14 JANUARY 2010. MAJOR COMPANIES ANNOUNCING Q3 RESULTS INCLUDE, INFOSYS TECHNOLOGIES (ON 12 JANUARY), BAJAJ AUTO (12 JANUARY), TCS (15 JANUARY), HDFC BANK (15 JANUARY), AND AXIS BANK (15 JANUARY).
TODAY WE MAY WITNESS A BOUT OF VOLATILITY AND STOCK-SPECIFIC MOVEMENTS IN THE MARKET AMID THIRD QUARTER RESULTS THOUGH MARKET IS IN AN OVER STRETCHED ZONE AND THOUGH PROFIT BOOKING TAKING PLACE AT EVERY HIGHER LEVEL TECHNICALLY THE TREND REMAINS STILL BULLISH. IF NIFTY TRADES ABOVE 5265 THEN LIKELY TO SEE NIFTY TO INCH TO 5285 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5313 AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5238 THEN WE MAY SEE NIFTY SLIDING DOWN TO 5217 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 5197 AND ANY CLOSING BELOW THIS POINT IS CONSIDERED TO BE NEAR TERM BEARISH SO STAY INVESTED ABOVE 5197 AND BELOW THIS LEVEL REMAIN SHORT.
BUY GRASIM SL 2749 TGT 2790/2820/2845
BUY RELCAP SL 904 TGT 913/919/927
BUY HDIL SL 374 TGT 382/385/388
BUY SATYAM SL 108 TGT 117/120
TODAY WE MAY WITNESS A BOUT OF VOLATILITY AND STOCK-SPECIFIC MOVEMENTS IN THE MARKET AMID THIRD QUARTER RESULTS THOUGH MARKET IS IN AN OVER STRETCHED ZONE AND THOUGH PROFIT BOOKING TAKING PLACE AT EVERY HIGHER LEVEL TECHNICALLY THE TREND REMAINS STILL BULLISH. IF NIFTY TRADES ABOVE 5265 THEN LIKELY TO SEE NIFTY TO INCH TO 5285 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5313 AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5238 THEN WE MAY SEE NIFTY SLIDING DOWN TO 5217 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 5197 AND ANY CLOSING BELOW THIS POINT IS CONSIDERED TO BE NEAR TERM BEARISH SO STAY INVESTED ABOVE 5197 AND BELOW THIS LEVEL REMAIN SHORT.
BUY GRASIM SL 2749 TGT 2790/2820/2845
BUY RELCAP SL 904 TGT 913/919/927
BUY HDIL SL 374 TGT 382/385/388
BUY SATYAM SL 108 TGT 117/120
