GOOD MORNING!!!
LAST TRADING SESSION WAS A VERY VOLATILE, INDICIES COULD GAIN VERY LITTLE IN A SEE SAW MARKET THE MARKET BREADTH WAS STRONG. REALTY SHARES EXTENDED THURSDAY'S GAINS ON FOLLOW-UP BUYING. BANKING AND TELECOM STOCKS ADVANCED ON FRESH BUYING. IT STOCKS WERE MIXED. METAL STOCKS DECLINED MIRRORING A FALL IN COMMODITY PRICES ON THE LONDON METAL EXCHANGE. THE MARKET WAS VOLATILE. THE MARKET OPENED ON A FIRM NOTE TRACKING GAINS IN ASIAN STOCKS. IT MOVED IN A NARROW RANGE TILL MID-MORNING TRADE. THE MARKET CUT GAINS IN EARLY AFTERNOON TRADE AFTER THE GOVERNMENT SOUGHT ADDITIONAL SPENDING PLAN FOR THE CURRENT YEAR. THE MARKET SLIPPED INTO THE RED LATER. THE MARKET REGAINED STRENGTH IN MID-AFTERNOON TRADE AS WORLD STOCKS ROSE. THE MARKET PARED GAINS IN LATE TRADE BUT COULD MANAGE TO CLOSE SLIGHTLY POSITIVE.
MARKETS MAY OPEN POSITIVE ON POSITIVE CLOSING ON FRIDAY AND WITH THE STRONG RALLY IN THE ASIAN MARKETS. MARKETS TODAY LIKELY TO BREAK THE RECENT HIGHS, IF NIFTY TRADES 5100 THEN LIKELY TO TEST 5140 LEVELS AND TRADE ABOVE THIS POINT WOULD LEAD NIFTY TO 5171 WHICH IS CONSIDERED TO BE A GOOD RESISTANCE POINT ANY BREAK AND CLOSE ABOVE THIS POINT WOULD TAKE NIFTY TO NEW HIGHS OF THE RECENT PAST. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5074 THEN LIKELY TO DRIFT DOWN TO 5044 ANY BREAK BELOW THIS POINT WOULD DRAG NIFTY TO 5002 AND ANY CLOSE BELOW 5000 IS CONSIDERED TO BE WEAK FOR THE NIFTY. STOCKS TO WATCH OUT FOR POSITIVE BIAS ARE BANKING, CEMENTS AND METALS.
BUY BANK NIFTY SL 8988 TGT 9145/9204/9250
BUY GRASIM SL 2776 TGT 2820/2844/2863
BUY SUZLON SL 78 TGT 82/84/86
BUY ESSAROIL SL 137.90 TGT 144/146/149
BUY PRAJ INDUSTRIES SL 84.90 TGT 89/92/94
MARKETS MAY OPEN POSITIVE ON POSITIVE CLOSING ON FRIDAY AND WITH THE STRONG RALLY IN THE ASIAN MARKETS. MARKETS TODAY LIKELY TO BREAK THE RECENT HIGHS, IF NIFTY TRADES 5100 THEN LIKELY TO TEST 5140 LEVELS AND TRADE ABOVE THIS POINT WOULD LEAD NIFTY TO 5171 WHICH IS CONSIDERED TO BE A GOOD RESISTANCE POINT ANY BREAK AND CLOSE ABOVE THIS POINT WOULD TAKE NIFTY TO NEW HIGHS OF THE RECENT PAST. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5074 THEN LIKELY TO DRIFT DOWN TO 5044 ANY BREAK BELOW THIS POINT WOULD DRAG NIFTY TO 5002 AND ANY CLOSE BELOW 5000 IS CONSIDERED TO BE WEAK FOR THE NIFTY. STOCKS TO WATCH OUT FOR POSITIVE BIAS ARE BANKING, CEMENTS AND METALS.
BUY BANK NIFTY SL 8988 TGT 9145/9204/9250
BUY GRASIM SL 2776 TGT 2820/2844/2863
BUY SUZLON SL 78 TGT 82/84/86
BUY ESSAROIL SL 137.90 TGT 144/146/149
BUY PRAJ INDUSTRIES SL 84.90 TGT 89/92/94
