GOOD MORNING!!!
KEY BENCHMARK INDICES ENDED SLIGHTLY LOWER AFTER WITNESSING INTRADAY VOLATILITY, ENDING THREE-DAY WINNING STREAK. FEARS OF RISE IN INTEREST RATES FOLLOWING RISE IN FOOD INFLATION WEIGHED ON THE SENTIMENT. FIRM GLOBAL STOCKS HAD AIDED THE RALLY ON THE DOMESTIC BOURSES RECENTLY. THE MARKET DRIFTED LOWER IN EARLY TRADE ON PROFIT TAKING AFTER LAST THREE DAYS' STRONG GAINS TRIGGERED BY THE FINANCE MINISTER'S PLEDGE TO CUT FISCAL DEFICIT IN THE UNION BUDGET. WITH THE RISE IN FOOD PRICE INDEX TO 17.87% IN THE 12 MONTHS AND FUEL PRICE INDEX TO 9.59%. ALONG WITH PRIMARY ARTICLES INDEX RISING TO 15%. HIGHER INFLATION IS LIKELY TO ADD PRESSURE ON THE CENTRAL BANK TO RAISE INTEREST RATES IN APRIL 2010. THE LATEST HIKE IN PETROL AND DIESEL PRICES WILL FURTHER INCREASE HEADLINE INFLATION. HIGHER INFLATION WILL PUT FURTHER PRESSURE ON INTEREST RATES WHICH IN TURN MAY IMPACT CORPORATE AND CONSUMER CONFIDENCE. THE MARKET BREADTH, INDICATING THE OVERALL HEALTH OF THE MARKET, WAS STRONG. TELECOM SHARES GAINED ON FRESH BUYING. BANKING SHARES WERE MIXED AHEAD OF A MEETING OF BANKERS WITH THE RESERVE BANK OF INDIA TOMORROW, 5 MARCH 2010 TO DISCUSS THE IMPLEMENTATION OF THE BASE RATE. AUTO STOCKS DECLINED ON PROFIT BOOKING. SOFTWARE PIVOTALS SLIPPED ON REPORTS TOP IT FIRMS ARE MULLING SALARY HIKE FOR THE FINANCIAL YEAR 2010-11, WHICH WILL IMPACT PROFITABILITY.
TODAY MARKETS WOULD BE VOLATILE AND THERE MAY BE PROFIT BOOKING COMING IN WITH A GOOD WEEK OF GAINS AND CONSOLIDATION FOR A BREAKOUT MAY TAKE PLACE. IF NIFTY TRADES ABOVE 5074 THEN LIKELY TO GO TO 5106 AND TRADE ABOVE IT WILL REACH 5130 ANY CLOSE ABOVE 5100 WILL TAKE NIFTY TO 5150 AND THIS POINT IS A VERY CRUCIAL POINT, NIFTY MAY RESIST BREAKING THIS POINT. ON THE DOWNSIDE IF NIFTY TRADES BELOW 5050 THEN LIKELY TO SLIDE DOWN TO 5005 AND BREAK BELOW THIS LEVEL AND TRADE BELOW 4998 THEN LIKELY TO MAKE A DIVE TO 4944 LEVELS BREAK BELOW 4944 IS A VERY WEAK CLOSING.
BUY JINDALSAW SL 203.9 TGT 207.2/209/212
KEY BENCHMARK INDICES ENDED SLIGHTLY LOWER AFTER WITNESSING INTRADAY VOLATILITY, ENDING THREE-DAY WINNING STREAK. FEARS OF RISE IN INTEREST RATES FOLLOWING RISE IN FOOD INFLATION WEIGHED ON THE SENTIMENT. FIRM GLOBAL STOCKS HAD AIDED THE RALLY ON THE DOMESTIC BOURSES RECENTLY. THE MARKET DRIFTED LOWER IN EARLY TRADE ON PROFIT TAKING AFTER LAST THREE DAYS' STRONG GAINS TRIGGERED BY THE FINANCE MINISTER'S PLEDGE TO CUT FISCAL DEFICIT IN THE UNION BUDGET. WITH THE RISE IN FOOD PRICE INDEX TO 17.87% IN THE 12 MONTHS AND FUEL PRICE INDEX TO 9.59%. ALONG WITH PRIMARY ARTICLES INDEX RISING TO 15%. HIGHER INFLATION IS LIKELY TO ADD PRESSURE ON THE CENTRAL BANK TO RAISE INTEREST RATES IN APRIL 2010. THE LATEST HIKE IN PETROL AND DIESEL PRICES WILL FURTHER INCREASE HEADLINE INFLATION. HIGHER INFLATION WILL PUT FURTHER PRESSURE ON INTEREST RATES WHICH IN TURN MAY IMPACT CORPORATE AND CONSUMER CONFIDENCE. THE MARKET BREADTH, INDICATING THE OVERALL HEALTH OF THE MARKET, WAS STRONG. TELECOM SHARES GAINED ON FRESH BUYING. BANKING SHARES WERE MIXED AHEAD OF A MEETING OF BANKERS WITH THE RESERVE BANK OF INDIA TOMORROW, 5 MARCH 2010 TO DISCUSS THE IMPLEMENTATION OF THE BASE RATE. AUTO STOCKS DECLINED ON PROFIT BOOKING. SOFTWARE PIVOTALS SLIPPED ON REPORTS TOP IT FIRMS ARE MULLING SALARY HIKE FOR THE FINANCIAL YEAR 2010-11, WHICH WILL IMPACT PROFITABILITY.
TODAY MARKETS WOULD BE VOLATILE AND THERE MAY BE PROFIT BOOKING COMING IN WITH A GOOD WEEK OF GAINS AND CONSOLIDATION FOR A BREAKOUT MAY TAKE PLACE. IF NIFTY TRADES ABOVE 5074 THEN LIKELY TO GO TO 5106 AND TRADE ABOVE IT WILL REACH 5130 ANY CLOSE ABOVE 5100 WILL TAKE NIFTY TO 5150 AND THIS POINT IS A VERY CRUCIAL POINT, NIFTY MAY RESIST BREAKING THIS POINT. ON THE DOWNSIDE IF NIFTY TRADES BELOW 5050 THEN LIKELY TO SLIDE DOWN TO 5005 AND BREAK BELOW THIS LEVEL AND TRADE BELOW 4998 THEN LIKELY TO MAKE A DIVE TO 4944 LEVELS BREAK BELOW 4944 IS A VERY WEAK CLOSING.
BUY JINDALSAW SL 203.9 TGT 207.2/209/212
BUY MRPL SL 74 TGT 77.6/79.4/81
BUY SESAGOA SL 439 TGT 447/452/457
BUY RELINFRA SL 1009 TGT1030/ 1042/1058
BUY SESAGOA SL 439 TGT 447/452/457
BUY RELINFRA SL 1009 TGT1030/ 1042/1058
BUY IDFC SL 157 TGT 165/167/169
