GOOD MORNING!!!
THE KEY BENCHMARK INDICES SURGED FOR THE SECOND STRAIGHT DAY AFTER FINANCE MINISTER PRANAB MUKHERJEE OFFERED TO PROGRESSIVELY CUT FISCAL DEFICIT OVER THE NEXT THREE FISCAL YEARS, CHANGED PERSONAL TAX RATES WHICH WILL LIFT DISPOSABLE INCOMES IN THE HAND OF INDIVIDUALS AND REDUCED SURCHARGE ON CORPORATE TAX FOR DOMESTIC COMPANIES TO 7.5% FROM 10% IN UNION BUDGET 2010-2011 LATE LAST WEEK. DATA SHOWING A SURGE IN MANUFACTURING ACTIVITY IN THE MONTH OF FEBRUARY AND RISE IN EXPORTS FOR THE THIRD CONSECUTIVE MONTH IN JANUARY ALSO LIFTED SENTIMENT. THE MARKET SURGED IN EARLY TRADE TRACKING OVERNIGHT GAINS IN GLOBAL STOCKS WHEN THE INDIAN MARKET WAS CLOSED FOR THE HOLI FESTIVAL. THE MARKET SURGED AGAIN IN AFTERNOON TRADE, MARKET EXTENDED GAINS IN LATE TRADE. AUTO STOCKS EXTENDED FRIDAY'S SHARP GAINS ON ROBUST VEHICLE SALES IN THE MONTH OF FEBRUARY 2010 OVER FEBRUARY 2009. INDIA'S LARGEST COMMERCIAL VEHICLE MAKER BY SALES TATA MOTORS ROSE MORE THAN 10% AFTER THE COMPANY REPORTED STRONG VEHICLE SALES IN THE MONTH. BANKING, METAL AND TELECOM STOCKS ALSO ROSE. BARRING THE REALTY INDEX, ALL THE OTHER SECTORAL ON INDICES WERE IN GREEN
TODAY MARKET MAY REMAIN FLAT AND VOLATILE. IF NIFTY TRADES ABOVE 5040 THEN LIKELY TO TAKE NIFTY TO 5069 LEVELS AND TRADE ABOVE THIS POINT WOULD TAKE NIFTY TO 5140 LEVELS ANY CLOSE ABOVE 5069 IS CONSIDERED TO BE VERY STRONG AND ONE CAN TAKE LONG POSITIONS AT THIS STAGE. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5000 THEN LIKELY TO HEAD TOWARDS 4971 AND BREAK BELOW THIS LEVEL WOULD DRAG NIFTY TO 4926 AND ANY CLOSE BELOW 4944 IS AGAIN CONSIDERED TO BE WEAK. SO MAINTAIN THE ABOVE LEVEL AND TRADE AS MARKET PICTURE STILL LOOKS HAZY EVEN AFTER A SURGE OF 200 POINTS IN NIFTY, ONE IS ADVISED TO STAY CAUTIOUS AS LOT OF SHARES THOUGH ARE MOVING UP STILL REMAINS NEGATIVE SO TRADE THE RECOMMENDED SCRIPS FOR CONTAINING YOUR LOSS WITH STRICT STOPLOSS AND DON’T ENTER SCRIPS EVEN IF THEY ARE MOVING VERY HIGH, THERE ARE LOT OF SHARES LIKELY TO NOSE DIVE.
BUY ACC SL 958 TGT 974/980/988*
BUY ASHOK LEYLAND SL 52 TGT 54/55/57*
BUY ORIENTAL BANK SL 284 TGT 290/293/296*
BUY CROMPTON GREAVES FUTURES SL 439 TGT 449/456/465*
BUY PIRAMAL SL 420 TGT 433/449/457*
BUY YESBANK SL 245 TGT 249/252/254
BUY WELGUJ SL 248 TGT 252/254/257
SELL CHAMBAL SL 62 TGT 60.4/59.25/58
SELL GAIL SL 395 TGT 390/387/383
SELL DLF SL 296 TGT 287/282/272
SELL RECLTD SL 241 TGT 175 * POSITIONAL
THE KEY BENCHMARK INDICES SURGED FOR THE SECOND STRAIGHT DAY AFTER FINANCE MINISTER PRANAB MUKHERJEE OFFERED TO PROGRESSIVELY CUT FISCAL DEFICIT OVER THE NEXT THREE FISCAL YEARS, CHANGED PERSONAL TAX RATES WHICH WILL LIFT DISPOSABLE INCOMES IN THE HAND OF INDIVIDUALS AND REDUCED SURCHARGE ON CORPORATE TAX FOR DOMESTIC COMPANIES TO 7.5% FROM 10% IN UNION BUDGET 2010-2011 LATE LAST WEEK. DATA SHOWING A SURGE IN MANUFACTURING ACTIVITY IN THE MONTH OF FEBRUARY AND RISE IN EXPORTS FOR THE THIRD CONSECUTIVE MONTH IN JANUARY ALSO LIFTED SENTIMENT. THE MARKET SURGED IN EARLY TRADE TRACKING OVERNIGHT GAINS IN GLOBAL STOCKS WHEN THE INDIAN MARKET WAS CLOSED FOR THE HOLI FESTIVAL. THE MARKET SURGED AGAIN IN AFTERNOON TRADE, MARKET EXTENDED GAINS IN LATE TRADE. AUTO STOCKS EXTENDED FRIDAY'S SHARP GAINS ON ROBUST VEHICLE SALES IN THE MONTH OF FEBRUARY 2010 OVER FEBRUARY 2009. INDIA'S LARGEST COMMERCIAL VEHICLE MAKER BY SALES TATA MOTORS ROSE MORE THAN 10% AFTER THE COMPANY REPORTED STRONG VEHICLE SALES IN THE MONTH. BANKING, METAL AND TELECOM STOCKS ALSO ROSE. BARRING THE REALTY INDEX, ALL THE OTHER SECTORAL ON INDICES WERE IN GREEN
TODAY MARKET MAY REMAIN FLAT AND VOLATILE. IF NIFTY TRADES ABOVE 5040 THEN LIKELY TO TAKE NIFTY TO 5069 LEVELS AND TRADE ABOVE THIS POINT WOULD TAKE NIFTY TO 5140 LEVELS ANY CLOSE ABOVE 5069 IS CONSIDERED TO BE VERY STRONG AND ONE CAN TAKE LONG POSITIONS AT THIS STAGE. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5000 THEN LIKELY TO HEAD TOWARDS 4971 AND BREAK BELOW THIS LEVEL WOULD DRAG NIFTY TO 4926 AND ANY CLOSE BELOW 4944 IS AGAIN CONSIDERED TO BE WEAK. SO MAINTAIN THE ABOVE LEVEL AND TRADE AS MARKET PICTURE STILL LOOKS HAZY EVEN AFTER A SURGE OF 200 POINTS IN NIFTY, ONE IS ADVISED TO STAY CAUTIOUS AS LOT OF SHARES THOUGH ARE MOVING UP STILL REMAINS NEGATIVE SO TRADE THE RECOMMENDED SCRIPS FOR CONTAINING YOUR LOSS WITH STRICT STOPLOSS AND DON’T ENTER SCRIPS EVEN IF THEY ARE MOVING VERY HIGH, THERE ARE LOT OF SHARES LIKELY TO NOSE DIVE.
BUY ACC SL 958 TGT 974/980/988*
BUY ASHOK LEYLAND SL 52 TGT 54/55/57*
BUY ORIENTAL BANK SL 284 TGT 290/293/296*
BUY CROMPTON GREAVES FUTURES SL 439 TGT 449/456/465*
BUY PIRAMAL SL 420 TGT 433/449/457*
BUY YESBANK SL 245 TGT 249/252/254
BUY WELGUJ SL 248 TGT 252/254/257
SELL CHAMBAL SL 62 TGT 60.4/59.25/58
SELL GAIL SL 395 TGT 390/387/383
SELL DLF SL 296 TGT 287/282/272
SELL RECLTD SL 241 TGT 175 * POSITIONAL
