GOOD MORNING!!!
KEY BENCHMARK INDICES EXTENDED THEIR FIVE-DAY LOSING TREND TODAY AS THEY PLAYED A CATCH-UP WITH REST OF ITS ASIAN PEERS WHICH HAD WITNESSED A HEAVY SELL-OFF. THE MARKET BREADTH WAS WEAK AS SMALL AND MID-CAP SHARES SUCCUMBED TO SELLING PRESSURE. SHARES FROM INTEREST RATE SENSITIVE SECTORS - BANKING, REALTY AND AUTO PACK DOMINATED THE MARKET SLIDE. TODAY'S SELL-OFF WAS WIDE-BASED WITH SHARES ACROSS SECTORS TAKING A HIT. IT AND METAL STOCKS WERE NOT SPARED EITHER. SENTIMENT REMAINED EDGY WITH LATEST QUARTERLY EARNINGS FROM SELECT PIVOTALS FALLING SHORT OF STREET ESTIMATES AND FOLLOWING THE RECENT SELLING DRIVE BY THE FOREIGN INSTITUTIONAL INVESTORS. THE UNDERTONE REMAINS CAUTIOUS AHEAD OF DERIVATIVES EXPIRY, RBI'S MONETARY POLICY AND EARNINGS FROM FRONTLINE COMPANIES.
IN THE LAST REPORT, I CLEARLY MENTIONED BREAK BELOW 4944 WOULD TAKE NIFTY TO 4800 AND THERE IS NO SUPPORT TILL 4800. AND THIS IS CONSIDERED TO BE ONLY A MINOR SUPPORT NOW THAT NIFTY HAS ONLY MINOR SUPPORT AT 4800 AND THEN AT 4709 IF 4800 IS BREACHED THEN WE WILL HAVE A MINOR SUPPORT AT 4709 AND BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 4573 WHICH IS CONSIDERED TO BE A MAJOR SUPPORT FOR THE NIFTY. TODAY AS IT IS BEING THE FNO EXPIRY WE MAY SEE MARKET TO BE SIDEWAYS AND HOVER POSITIVE TO NEGATIVE AND NEGATIVE POSITIVE TERITORRY IN A NARROW PRICE BAND. WE MAY SEE SOME STOCK SPECIFIC MOVES ON THE UPSIDE BUT INDEX WISE WE MAY NOT SEE MUCH APPRECIATION NOW. STAY SHORT AT EVERY RISE AND IF YOU ARE A SERIOUS INVESTOR ONE HAS TO ADD SOME PUTS TO YOUR PORTFOLIO TO CONTAIN THE LOSS.
BUY INFOTECHENT SL 334 TGT 365/379/390
BUY KOUTONS SL 363 TGT 394/400/410
BUY TORRENT PHARMA SL 413 TGT 434/440/447
BUY REVATHI EQUIP SL 633 TGT 673/685
SELL RELCAP SL 801 TGT 762/747/722
SELL SIEMENS SL 604 TGT 585/573/556
SELL MARUTI SL 1385 TGT 1327/1300/1272
IN THE LAST REPORT, I CLEARLY MENTIONED BREAK BELOW 4944 WOULD TAKE NIFTY TO 4800 AND THERE IS NO SUPPORT TILL 4800. AND THIS IS CONSIDERED TO BE ONLY A MINOR SUPPORT NOW THAT NIFTY HAS ONLY MINOR SUPPORT AT 4800 AND THEN AT 4709 IF 4800 IS BREACHED THEN WE WILL HAVE A MINOR SUPPORT AT 4709 AND BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 4573 WHICH IS CONSIDERED TO BE A MAJOR SUPPORT FOR THE NIFTY. TODAY AS IT IS BEING THE FNO EXPIRY WE MAY SEE MARKET TO BE SIDEWAYS AND HOVER POSITIVE TO NEGATIVE AND NEGATIVE POSITIVE TERITORRY IN A NARROW PRICE BAND. WE MAY SEE SOME STOCK SPECIFIC MOVES ON THE UPSIDE BUT INDEX WISE WE MAY NOT SEE MUCH APPRECIATION NOW. STAY SHORT AT EVERY RISE AND IF YOU ARE A SERIOUS INVESTOR ONE HAS TO ADD SOME PUTS TO YOUR PORTFOLIO TO CONTAIN THE LOSS.
BUY INFOTECHENT SL 334 TGT 365/379/390
BUY KOUTONS SL 363 TGT 394/400/410
BUY TORRENT PHARMA SL 413 TGT 434/440/447
BUY REVATHI EQUIP SL 633 TGT 673/685
SELL RELCAP SL 801 TGT 762/747/722
SELL SIEMENS SL 604 TGT 585/573/556
SELL MARUTI SL 1385 TGT 1327/1300/1272
NOTE: BUY STOCKS IF TRADED ABOVE CLOSING PRICE AND SELL STOCKS IF TRADED BELOW THE CLOSING PRICE ON THE ABOVE RECOMMENDATIONS
