GOOD MORNING!!!
STRONG INTRADAY REBOUND ON GOOD VOLUMES WAS WITNESSED AS EUROPEAN STOCKS AND US INDEX FUTURES ROSE. INVESTORS ALSO HEAVED A SIGH OF RELIEF AS THE CENTRAL BANK KEPT KEY INTEREST RATES UNCHANGED AT A QUARTERLY POLICY REVIEW. BANKING, REALTY AND CAPITAL GOODS STOCKS GAINED. FMCG AND METALS WERE THE LOOSERS. INTRADAY VOLATILITY ON THE INDICES WAS TOO HIGH. AFTER THE RBI ANNOUNCEMENT OF THE CRR HIKE OF 75 BASIS POINTS MARKET SLIPPED NEW INTRADAY LOW AND ALSO BREACHED THE PSYCHOLOGICAL MARK OF 4800 IN NIFTY BUT RECOVERED ON GOOD VOLUMES AS THE KEY RATES WERE KEPT UNCHANGED. THE MARKET BREADTH, INDICATING THE OVERALL HEALTH OF THE MARKET, TURNED POSITIVE.
TODAY NIFTY MAY OPEN NEGATIVE BUT MAY NOT REMAIN IN THE NEGATIVE TERITORRY FOR LONGER PERIOD. TODAY IF NIFTY TRADES BELOW 4840 THEN LIKELY TO SEE NIFTY TO SLIDE DOWN TO 4805 AND ANY BREAK BELOW THIS POINT WILL WEAKEN THE MARKETS AND MAY SLIDE TO MUCH LOWER LEVELS, AND ON THE UPSIDE IF NIFTY TRADES ABOVE 4881 THEN LIKELY TO MOVE UP TO 4929 AND TRADE ABOVE THIS POINT IS LIKELY TO TAKE NIFTY TO HIGHER LEVELS AND 4944 IS A POINT WHERE ONE HAS TO WATCH FOR AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5052 ANY CLOSE ABOVE 4929 IS CONSIDERED TO BE BULLISH ONE CAN TAKE FEW LONG POSITIONS ON THE STRONG SCRIPS. ONE CAN BUY BELOW BUY RECOMMENDATION WHEN MARKET SLIDES INITIALLY WITH STRICT STOPLOSS AND EVEN IF THE SCRIP TRADES ABOVE STOPLOSS AFTER HITTING ONE CAN INITIATE LONGS WITH THE SAME STOPLOSS.
BUY BHEL SL 2363 TGT 2414/2428/2445
BUY CHENNAI PETRO SL 229 TGT 241/245/249
BUY HDFC SL 2365 TGT 2417/2430/2483
BUY ICICI SL 804 TGT 844/854
BUY IFCI SL 50.85 TGT 53/54.1/55
BUY SIEMENS SL 621 TGT 657/665/673
BUY UCO BANK SL TGT 62/63/64.9
SELL OPTOCIRCUITS SL 225 TGT 208/200/193
POSITIONAL CALLS
BUY INOX TGT 93
BUY JAYASWAL NECO TGT 39
BUY GABRIEL INDIA TGT 42
BUY HANUNG TOYS TGT 175*
TODAY NIFTY MAY OPEN NEGATIVE BUT MAY NOT REMAIN IN THE NEGATIVE TERITORRY FOR LONGER PERIOD. TODAY IF NIFTY TRADES BELOW 4840 THEN LIKELY TO SEE NIFTY TO SLIDE DOWN TO 4805 AND ANY BREAK BELOW THIS POINT WILL WEAKEN THE MARKETS AND MAY SLIDE TO MUCH LOWER LEVELS, AND ON THE UPSIDE IF NIFTY TRADES ABOVE 4881 THEN LIKELY TO MOVE UP TO 4929 AND TRADE ABOVE THIS POINT IS LIKELY TO TAKE NIFTY TO HIGHER LEVELS AND 4944 IS A POINT WHERE ONE HAS TO WATCH FOR AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5052 ANY CLOSE ABOVE 4929 IS CONSIDERED TO BE BULLISH ONE CAN TAKE FEW LONG POSITIONS ON THE STRONG SCRIPS. ONE CAN BUY BELOW BUY RECOMMENDATION WHEN MARKET SLIDES INITIALLY WITH STRICT STOPLOSS AND EVEN IF THE SCRIP TRADES ABOVE STOPLOSS AFTER HITTING ONE CAN INITIATE LONGS WITH THE SAME STOPLOSS.
BUY BHEL SL 2363 TGT 2414/2428/2445
BUY CHENNAI PETRO SL 229 TGT 241/245/249
BUY HDFC SL 2365 TGT 2417/2430/2483
BUY ICICI SL 804 TGT 844/854
BUY IFCI SL 50.85 TGT 53/54.1/55
BUY SIEMENS SL 621 TGT 657/665/673
BUY UCO BANK SL TGT 62/63/64.9
SELL OPTOCIRCUITS SL 225 TGT 208/200/193
POSITIONAL CALLS
BUY INOX TGT 93
BUY JAYASWAL NECO TGT 39
BUY GABRIEL INDIA TGT 42
BUY HANUNG TOYS TGT 175*
