GOOD MORNING!!!
THE MARKET PARED GAINS SOON AFTER AN EARLY SURGE TRIGGERED BY FIRM ASIAN STOCKS AND STRONG TRADE DATA FROM CHINA FOR DECEMBER 2009. THE MARKET PARED GAINS IN MID-MORNING TRADE AFTER MOVING IN A NARROW RANGE IN MORNING TRADE AFTER RIL LOST GROUND AFTER THE COMPANY SOLD A LARGE QUANTUM OF ITS TREASURY SHARES. BANKING PIVOTAL FELL. THE MARKET FURTHER TRIMMED GAINS TO HIT FRESH INTRADAY LOW IN EARLY AFTERNOON TRADE. THE MARKET LOST FURTHER GROUND IN AFTERNOON TRADE. THE MARKET SLIPPED INTO THE RED IN MID-AFTERNOON TRADE. THE MARKET CUT LOSSES IN LATE TRADE BUT, IT, AUTO, REALTY AND METAL STOCKS GAINED.
TODAY MARKET WOULD BE RANGE BOUND AND THE MAJOR TIRGGER IN THE MARKET WOULD BE THE ANNOUNCEMENT OF INDUSTRIAL OUTPUT DATA FOR THE MONTH OF NOVEMBER 2009, WHICH MAY CHANGE THE TREND OF THE MARKET. TODAY IF NIFTY TRADES ABOVE 5260 THEN LIKELY TO MOVE UP TO 5276 AND BREAK ABOVE THIS POINT WOULD LEAD NIFTY TO 5290, CLOSING ABOVE 5290 WOULD PULL NIFTY TO NEW HIGHS OF THE YEAR, WE MAY SEE NIFTY TO TOUCH 5350 AND THEN 5400. AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5245 THEN LIKELY TO COME DOWN TO 5219 AND BREAK BELOW THIS LEVEL WOULD DRAG NIFTY TO 5205, ANY CLOSE BELOW 5197 WOULD TAKE NIFTY MUCH DOWNSIDE. REALITY AND SHIPPING ARE POSITIVE. STOCK SPECIFIC: UNITECH, MLL, GESHIPPING, PANTALOON AND ORCHID CHEMICALS LOOKING POSITIVE.
BUY AXISBANK SL 1039 TGT 1064/1075/1087
BUY SIEMENS SL 639 TGT 654/665
BUY CHAMBAL FERT SL 64.95 TGT 66.1/66.7
BUY GESHIPPING SL 319 TGT 325/329/334
SELL RELIANCE BELOW 1083 SL 1087 TGT 1067/1052
TODAY MARKET WOULD BE RANGE BOUND AND THE MAJOR TIRGGER IN THE MARKET WOULD BE THE ANNOUNCEMENT OF INDUSTRIAL OUTPUT DATA FOR THE MONTH OF NOVEMBER 2009, WHICH MAY CHANGE THE TREND OF THE MARKET. TODAY IF NIFTY TRADES ABOVE 5260 THEN LIKELY TO MOVE UP TO 5276 AND BREAK ABOVE THIS POINT WOULD LEAD NIFTY TO 5290, CLOSING ABOVE 5290 WOULD PULL NIFTY TO NEW HIGHS OF THE YEAR, WE MAY SEE NIFTY TO TOUCH 5350 AND THEN 5400. AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5245 THEN LIKELY TO COME DOWN TO 5219 AND BREAK BELOW THIS LEVEL WOULD DRAG NIFTY TO 5205, ANY CLOSE BELOW 5197 WOULD TAKE NIFTY MUCH DOWNSIDE. REALITY AND SHIPPING ARE POSITIVE. STOCK SPECIFIC: UNITECH, MLL, GESHIPPING, PANTALOON AND ORCHID CHEMICALS LOOKING POSITIVE.
BUY AXISBANK SL 1039 TGT 1064/1075/1087
BUY SIEMENS SL 639 TGT 654/665
BUY CHAMBAL FERT SL 64.95 TGT 66.1/66.7
BUY GESHIPPING SL 319 TGT 325/329/334
SELL RELIANCE BELOW 1083 SL 1087 TGT 1067/1052
