GOOD MORNING!!!
THE KEY BENCHMARK INDICES FELL ON WORRIES THE CENTRAL BANK MAY TAKE MORE MONETARY ACTION TO CHECK INFLATION AFTER THE LATEST DATA SHOWED THAT THE HEADLINE INFLATION JUMPED IN JANUARY 2010. CONSUMER DURABLES, CAPITAL GOODS, REALTY, FMCG, BANKING SHARES FELL. INDIA'S LARGEST MOBILE SERVICES PROVIDER BY SALES BHARTI AIRTEL FELL MORE THAN 9% ON CONCERNS THE LEADING MOBILE FIRM'S $10.7 BILLION OFFER FOR KUWAITI ZAIN'S AFRICAN ASSETS COULD STRAIN ITS FINANCES. THE MARKET BREADTH, WHICH WAS STRONG AT THE ONSET OF THE TRADING SESSION, TURNED WEAK LATER. THE MARKET WAS VOLATILE. STOCKS TURNED NEGATIVE SOON AFTER A FIRM START. THE SENSEX MOVED IN A NARROW RANGE IN MORNING TRADE. THE MARKET EDGED LOWER AFTER MOVING BETWEEN THE POSITIVE AND NEGATIVE TERRAIN IN MID-MORNING TRADE. THE MARKET SLUMPED IN EARLY AFTERNOON TRADE AS INFLATION JUMPED. THE MARKET WEAKENED AGAIN AFTER RECOVERING SHARPLY FROM THE DAY'S LOW IN MID-AFTERNOON TRADE.
TODAY MARKET WOULD REMAIN VOLATILE AND NARROWLY RANGE BOUND. ON THE NIFTY FRONT IF NIFTY TRADES BELOW 4784 THEN LIKELY TO COME DOWN TO 4740 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 4704 WHERE IT IS CONSIDERED AS A MINOR SUPPORT, IF THIS SUPPORT IS BROKEN AND CLOSED BELOW THIS LEVEL THEN ONE CAN SEE NIFTY TO COME DOWN TO NEW LOWS OF THE YEAR, ONE CAN EXPECT NIFTY TO COME DOWN BY ANOTHER 200 TO 300 POINTS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 4820 THEN ONE CAN TAKE LONG FOR A TARGET OF 4865 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 4909 CLOSE ABOVE 4944 IS CONSIDERED TO BE POSITIVE ON CHARTS UNTIL THEN NIFTY CAN BE CONSIDERED TO BE NEGATIVE. ONE IS ADVISED NOT TO GO LONG WITH ALL THE CAPITAL ONE HAS, IT IS ADVISED TO JUST INVEST ONLY 25% OF THE CAPITAL AND TRY TO TRADE ONLY ON INTRADAY BASIS.
SELL STERLITE SL 749.6 TGT 738/732/726
BUY JINDAL STEEL AND POWER SL 629 TGT 638/644/650
BUY JSW STEEL SL 999 TGT 1019/1026/1037
BUY POLARIS SL 162 TGT 171/174
BUY UNITECH SL 72 TGT 77/78
BUY GTLINFRA SL 41.5 TGT 43/44/45
POSITIONAL CALLS
BUY SONA KOYA STEERING @ 16 TGT 24/32/40
TODAY MARKET WOULD REMAIN VOLATILE AND NARROWLY RANGE BOUND. ON THE NIFTY FRONT IF NIFTY TRADES BELOW 4784 THEN LIKELY TO COME DOWN TO 4740 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 4704 WHERE IT IS CONSIDERED AS A MINOR SUPPORT, IF THIS SUPPORT IS BROKEN AND CLOSED BELOW THIS LEVEL THEN ONE CAN SEE NIFTY TO COME DOWN TO NEW LOWS OF THE YEAR, ONE CAN EXPECT NIFTY TO COME DOWN BY ANOTHER 200 TO 300 POINTS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 4820 THEN ONE CAN TAKE LONG FOR A TARGET OF 4865 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 4909 CLOSE ABOVE 4944 IS CONSIDERED TO BE POSITIVE ON CHARTS UNTIL THEN NIFTY CAN BE CONSIDERED TO BE NEGATIVE. ONE IS ADVISED NOT TO GO LONG WITH ALL THE CAPITAL ONE HAS, IT IS ADVISED TO JUST INVEST ONLY 25% OF THE CAPITAL AND TRY TO TRADE ONLY ON INTRADAY BASIS.
SELL STERLITE SL 749.6 TGT 738/732/726
BUY JINDAL STEEL AND POWER SL 629 TGT 638/644/650
BUY JSW STEEL SL 999 TGT 1019/1026/1037
BUY POLARIS SL 162 TGT 171/174
BUY UNITECH SL 72 TGT 77/78
BUY GTLINFRA SL 41.5 TGT 43/44/45
POSITIONAL CALLS
BUY SONA KOYA STEERING @ 16 TGT 24/32/40
