GOOD MORNING!!!
MARKETS WERE NOT VERY WEAK IN THE OPENING, MARKETS TOOK GOOD SUPPORT AT 4946 AND BOUNCED BACK ON FRIDAY THOUGH MARKET OPENED NEGATIVE IN THE OPENING BUT MANAGED TO GET POSITIVE BY MID AFTERNOON TRADE BUT COULD NOT MANAGE AS UNDERTONE WAS VERY CAUTIOUS AHEAD OF HOLIDAY SUPPORTED BY RBI’S MONETARY POLICY AND WEAK GLOBAL CUES HAD PLAYED THE KEY ROLE IN PROFIT TAKING AT THE END OF THE DAY EVEN AFTER A GOOD RECOVERY IN THE EARLY TRADE. SELLING PRESSURE SUSTAINED IN AUTO MAJOR M&M ON DISAPPOINTING EARNINGS THE RESULTS WERE LOWER THAN THE MARKET EXPECTATIONS. THOUGH BREADTH OF THE MARKET WAS WEAK IT WAS NOT VERY WEAK WHEN COMPARED TO THURSDAY. AMONG THE TOP LOOSERS IN THE KEY INDICES REALITY, AUTO, METALS, IT AND BANKING WERE THE KEY WHILE FMCG ALONG WITH CAPITAL GOODS HAVE GAINED.
TODAY, MARKETS WOULD BE HIGHLY VOLATILE AHEAD OF EXPIRY ON THURSDAY WE MAY SEE NIFTY TO BE ON THE SIDELINES. AS LONG AS 5000 IS SUSTAINED IN NIFTY WE MAY SEE A PULL BACK IN NIFTY AND ON THE DOWNSIDE IF NIFTY BREACHES 4944 LEVELS WE MAY HEAD DOWNWARDS BY ANOTHER 200 POINTS ON IMMEDIATE BASIS. ONE IS ADVISED TO STAY VERY CAUTIOUS ON THE DOWNSIDE 4944 LEVEL, KEEPING 4944 AS STOPLOSS ONE CAN KEEP BUYING ON DECLINES AND ADVISED TO HEDGE YOUR POSITIONS WITH PUTS IF NIFTY IS BELOW 5000 AND ABOVE 4944. ON THE INTRADAY BASIS IF NIFTY TRADES ABOVE 5011 THEN WE MAY HEAD TO 5040 THIS IS CONSIDERED TO BE MINOR RESISTANCE AND TRADE ABOVE THIS LEVEL WOULD TAKE NIFTY TO 5075 LEVELS, ANYTHING ABOVE THIS LEVEL WOULD TAKE NIFTY TO 5140 AND ON THE DOWNSIDE IF NIFTY BREACHES 4997 THEN WE MAY SEE NIFTY TO TAKE SUPPORT AT 4980 LEVELS AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 4944 WHICH IS VERY CRUCIAL SUPPORT FOR NIFTY IN NEAR TERM IF NIFTY BREAKES THIS LEVEL IT IS ADVISED TO TAKE SHORTS OR PUTS IN FEB CONTRACTS FOR A TARGET OF 4800.
BUY RCF SL 107.9 TGT 111/115/118
BUY NATIONAL FERTILIZER SL 127 TGT 137/143
BUY JAI CORP SL 296.4 TGT 318/332/352TODAY, MARKETS WOULD BE HIGHLY VOLATILE AHEAD OF EXPIRY ON THURSDAY WE MAY SEE NIFTY TO BE ON THE SIDELINES. AS LONG AS 5000 IS SUSTAINED IN NIFTY WE MAY SEE A PULL BACK IN NIFTY AND ON THE DOWNSIDE IF NIFTY BREACHES 4944 LEVELS WE MAY HEAD DOWNWARDS BY ANOTHER 200 POINTS ON IMMEDIATE BASIS. ONE IS ADVISED TO STAY VERY CAUTIOUS ON THE DOWNSIDE 4944 LEVEL, KEEPING 4944 AS STOPLOSS ONE CAN KEEP BUYING ON DECLINES AND ADVISED TO HEDGE YOUR POSITIONS WITH PUTS IF NIFTY IS BELOW 5000 AND ABOVE 4944. ON THE INTRADAY BASIS IF NIFTY TRADES ABOVE 5011 THEN WE MAY HEAD TO 5040 THIS IS CONSIDERED TO BE MINOR RESISTANCE AND TRADE ABOVE THIS LEVEL WOULD TAKE NIFTY TO 5075 LEVELS, ANYTHING ABOVE THIS LEVEL WOULD TAKE NIFTY TO 5140 AND ON THE DOWNSIDE IF NIFTY BREACHES 4997 THEN WE MAY SEE NIFTY TO TAKE SUPPORT AT 4980 LEVELS AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 4944 WHICH IS VERY CRUCIAL SUPPORT FOR NIFTY IN NEAR TERM IF NIFTY BREAKES THIS LEVEL IT IS ADVISED TO TAKE SHORTS OR PUTS IN FEB CONTRACTS FOR A TARGET OF 4800.
BUY RCF SL 107.9 TGT 111/115/118
BUY NATIONAL FERTILIZER SL 127 TGT 137/143
BUY HINDUSTAN COPPER ABOVE 614.3 SL 608 TGT 622/633/648
BUY HAVELLS INDIA ABOVE 589.2 SL 579.9 TGT 619/631/646
BUY UNION BANK SL 264 TGT 270/275
BUY ORBIT CORPOTATION SL 344.9 TGT 368/381
SELL TATAMOTORS SL 785 TGT 754/742
SELL STERLITE SL 810 TGT 791/785/759
SELL IBREALESTATE SL 192 TGT 186/183 (165 IN NEAR TERM)
SELL TATA STEEL SL 809 TGT 788/779
SELL M&M SL 1081 TGT 1044/1021/1007
NOTE: BUY CALLS TO BE TAKEN ONLY IF THE SCRIP TRADES ABOVE CLOSING PRICE AND SELL CALLS BELOW CLOSING PRICE
POSITIONAL TRADES
BUY HYDERABAD INDS SL 589 TGT 678/853
BUY INFOTECH ENTER SL 338 TGT 379/407
BUY KESAR ENTERPRISE TGT 163/173
