GOOD MORNING!!!
THE KEY BENCHMARK INDICES FELL, SNAPPING LAST TWO DAYS' GAINS AS ASIAN STOCKS FELL AND US INDEX FUTURES EDGED LOWER.. METAL, REALTY, SUGAR AND AUTO STOCKS FELL. THE MARKET BREADTH WAS WEAK. THE MARKET DROPPED IN EARLY TRADE AS MOST ASIAN STOCKS FELL. IT CUT LOSSES IN MORNING TRADE. THE MARKET ONCE AGAIN TRIMMED LOSSES AFTER HITTING FRESH INTRADAY LOWS IN MID-MORNING TRADE. THE MARKET ONCE GAIN CAME OFF THE LOWS IN EARLY AFTERNOON TRADE. HOWEVER, THE INTRADAY REBOUND PROVED SHORT LIVED. THE MARKET LOST GROUND AGAIN IN AFTERNOON TRADE. THE MARKET MAY REMAIN VOLATILE IN THE NEAR TERM AS TRADERS ROLL OVER POSITIONS FROM FEBRUARY 2010 DERIVATIVES CONTRACTS TO MARCH 2010 CONTRACTS AHEAD OF THE EXPIRY OF THE NEAR-MONTH FEBRUARY 2010 CONTRACTS ON THURSDAY, 25 FEBRUARY 2010.
TODAY MARKET LOOKS VOLATILE AND NARROWLY RANGE BOUND. MARKET MAY RESIST GOING UPSIDE FROM HERE ON AS INTIMATED EARLIER 4944 IS THE GOOD RESISTANCE POINT WHERE NIFTY REQUIRES HEAVY BUYING TO SURPASS THIS LEVEL. TODAY MARKET LOOKS WEAK ON THE GLOBAL CUES FRONT. TODAY IF NIFTY TRADES BELOW 4875 THEN LIKELY TO SEE MARKETS TO SLIDE DOWN TO 4840 LEVELS AND BREAK BELOW THIS LEVEL WOULD LEAD NIFTY TO 4820 AND THEN TO 4805 ANY CLOSE BELOW 4805 MAY TAKE NIFTY TO LOWER LEVELS IN A VERY SHORT TERM. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 4908 THEN LIKELY TO GO TO 4944 LEVELS AND TRADE ABOVE THIS LEVEL WITH VOLUMES MAY TAKE NIFTY TO MUCH HIGHER LEVELS.
SELL REL INFRA SL 1031 TGT 1016/1008/1001
BUY CHAMBAL FERT SL 71.8 TGT 73.5/74.5/76
BUY NAHAR IND ENT SL 67 TGT 78/82/85
BUY TATACHEMICALS SL 292 TGT 299/302/305
BUY GNFC SL115 TGT 124/127/129.
TODAY MARKET LOOKS VOLATILE AND NARROWLY RANGE BOUND. MARKET MAY RESIST GOING UPSIDE FROM HERE ON AS INTIMATED EARLIER 4944 IS THE GOOD RESISTANCE POINT WHERE NIFTY REQUIRES HEAVY BUYING TO SURPASS THIS LEVEL. TODAY MARKET LOOKS WEAK ON THE GLOBAL CUES FRONT. TODAY IF NIFTY TRADES BELOW 4875 THEN LIKELY TO SEE MARKETS TO SLIDE DOWN TO 4840 LEVELS AND BREAK BELOW THIS LEVEL WOULD LEAD NIFTY TO 4820 AND THEN TO 4805 ANY CLOSE BELOW 4805 MAY TAKE NIFTY TO LOWER LEVELS IN A VERY SHORT TERM. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 4908 THEN LIKELY TO GO TO 4944 LEVELS AND TRADE ABOVE THIS LEVEL WITH VOLUMES MAY TAKE NIFTY TO MUCH HIGHER LEVELS.
SELL REL INFRA SL 1031 TGT 1016/1008/1001
BUY CHAMBAL FERT SL 71.8 TGT 73.5/74.5/76
BUY NAHAR IND ENT SL 67 TGT 78/82/85
BUY TATACHEMICALS SL 292 TGT 299/302/305
BUY GNFC SL115 TGT 124/127/129.
