GOOD MORNING!!!
THE KEY BENCHMARK INDICES ERASED ALMOST ALL THE GAINS AFTER AN EARLY RALLY AS INVESTORS TURNED CAUTIONS AHEAD OF THE UNION BUDGET 2010-2011 LATER THIS WEEK. THE MARKET CLOSED WITH SMALL GAINS SNAPPING LAST TWO DAYS LOSSES. BUT RISING METAL PRICES ON THE LONDON METAL EXCHANGE ON FRIDAY, 19 FEBRUARY 2010 BOOSTED LOCAL METAL SHARES. IT SHARES ALSO ROSE. THE MARKET BREADTH WAS WEAK. EUROPEAN STOCKS FELL. AFTER A FIRM START TRIGGERED BY HIGHER ASIAN STOCKS, THE MARKET PARED GAINS IN MORNING TRADE. IT REGAINED STRENGTH IN MID-MORNING TRADE. THE SENSEX MOVED IN A NARROW RANGE IN EARLY AFTERNOON TRADE. THE MARKET ONCE AGAIN PARED GAINS IN MID-AFTERNOON TRADE. THE MARKET CUT ALMOST ALL THE INTRADAY GAINS IN LATE TRADE.
ECONOMIC CALENDAR FOR THE WEEK.
THE HIGHLY EVENTFUL WEEK BEGINS WITH THE RAILWAY BUDGET ON 24 FEBRUARY 2010. IT WILL BE FOLLOWED BY TABLING OF ECONOMIC SURVEY ON 25 FEBRUARY 2010 AND THE UNION BUDGET ON 26 FEBRUARY 2010.
TODAY NIFTY MAY BE VOLATILE WITH NEGATIVELY BIASED AND MAY SEE SOME WILD FLUCTUATIONS IN SECTOR SPECIFIC. TODAY WE MAY SEE NIFTY TO BE HIGHLY RANGE BOUND, IF NIFTY TRADES BELOW 4840 THEN LIKELY TO DIP TO 4798 LEVELS AND BREAK BELOW THIS LEVEL WITH VOLUMES MAY TAKE NIFTY TO 4760 AND ANY CLOSE BELOW 4800 IS CONSIDERED TO BE WEAK AND COULD LEAD THE DOWNFALL VERY RAPIDLY. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 4874 THEN ONE CAN TAKE LONG POSITION ON INTRADAY BASIS FOR A TARGET OF 4902 AND TRADING ABOVE 4900 CAN SEE POSITIVE IMPACT IN THE NIFTY AND ANY CLOSE ABOVE 4944 IS CONSIDERED TO BE BULLISH AND ONE CAN TAKE LONG POSITIONS AT THAT LEVEL. BE CAUTIOUS IN TAKING POSITIONS AS THE EXPIRY OF THIS MONTH CONTRACT IS NEARING WE MAY SEE HUGE VOLATILITY. REALITY LOOKING VERY WEAK, EDUCATION STOCKS LOOKING GOOD.
CAUTION: ONE IS ADVISED TO HEDGE YOUR POSITIONS BEFORE BUDGET AS WE MAY LIKELY TO SEE HUGE VOLATILITY IN THE MARKET. STAY WITH CAUTION IN THE MARKETS.
SELL HDIL SL 296 TGT 287/278/270
SELL SESAGOA SL 367 TGT 360/354/348
SELL DLF SL 287 TGT 278/274/270
POSITIONAL CALL
SELL TATASTEEL FUTURES SL 586 TGT 520/500/480
ECONOMIC CALENDAR FOR THE WEEK.
THE HIGHLY EVENTFUL WEEK BEGINS WITH THE RAILWAY BUDGET ON 24 FEBRUARY 2010. IT WILL BE FOLLOWED BY TABLING OF ECONOMIC SURVEY ON 25 FEBRUARY 2010 AND THE UNION BUDGET ON 26 FEBRUARY 2010.
TODAY NIFTY MAY BE VOLATILE WITH NEGATIVELY BIASED AND MAY SEE SOME WILD FLUCTUATIONS IN SECTOR SPECIFIC. TODAY WE MAY SEE NIFTY TO BE HIGHLY RANGE BOUND, IF NIFTY TRADES BELOW 4840 THEN LIKELY TO DIP TO 4798 LEVELS AND BREAK BELOW THIS LEVEL WITH VOLUMES MAY TAKE NIFTY TO 4760 AND ANY CLOSE BELOW 4800 IS CONSIDERED TO BE WEAK AND COULD LEAD THE DOWNFALL VERY RAPIDLY. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 4874 THEN ONE CAN TAKE LONG POSITION ON INTRADAY BASIS FOR A TARGET OF 4902 AND TRADING ABOVE 4900 CAN SEE POSITIVE IMPACT IN THE NIFTY AND ANY CLOSE ABOVE 4944 IS CONSIDERED TO BE BULLISH AND ONE CAN TAKE LONG POSITIONS AT THAT LEVEL. BE CAUTIOUS IN TAKING POSITIONS AS THE EXPIRY OF THIS MONTH CONTRACT IS NEARING WE MAY SEE HUGE VOLATILITY. REALITY LOOKING VERY WEAK, EDUCATION STOCKS LOOKING GOOD.
CAUTION: ONE IS ADVISED TO HEDGE YOUR POSITIONS BEFORE BUDGET AS WE MAY LIKELY TO SEE HUGE VOLATILITY IN THE MARKET. STAY WITH CAUTION IN THE MARKETS.
SELL HDIL SL 296 TGT 287/278/270
SELL SESAGOA SL 367 TGT 360/354/348
SELL DLF SL 287 TGT 278/274/270
POSITIONAL CALL
SELL TATASTEEL FUTURES SL 586 TGT 520/500/480
