GOOD MORNING!!!
WITH STRONG INTRADAY GAINS IN THE OPENING OF THE MARKETS, IT COULD NOT HOLD THE SAME MOMENTUM TILL THE END AS INDICES EDGED SLIGHTLY HIGHER IN A VOLATILE TRADING SESSION AS PROFIT BOOKING TOOK PLACE IN FRONTLINE STOCKS. WITH WORLD MARKETS ON THE POSITIVE SIDE EUROPEAN, ASIAN MARKETS AND US INDEX FUTURES TRADING FIRM MARKET BREADTH REMAINED STRONG. REALTY SHARES EXTENDED THURSDAY'S GAINS ON FOLLOW-UP BUYING. BANKING AND TELECOM STOCKS ADVANCED ON FRESH BUYING. METAL STOCKS DECLINED MIRRORING A FALL IN METAL 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.
TODAY MARKET LOOKS VERY RANGE BOUND. IF NIFTY TRADES ABOVE 5141 THEN LIKELY TO MOVE UP TO 5171 IF THIS LEVEL IS BREACHED AND TRADED ABOVE THEN LIKELY TO SEE NEW HIGHS IN NIFTY. AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5100 THEN LIKELY TO DRIFT DOWN TO 5060 AND ANY TRADE BELOW 5044 AND CLOSE BELOW THIS POINT WOULD TURN THE DIRECTION OF THE MARKETS. STOCKS LOOKING POSITIVE ARE FORTIS, HEROHONDA,MARUTI, MUNDRA PORT, ICICI BANK.
BUY SIEMENS SL 734 TGT 744/751/762
BUY MARUTI SL 1464 TGT 1498/1513/1520
BUY BOMBAY DYEING SL 574 TGT 592/602/617
BUY MAHINDRA FORGING SL 135 TGT 149/159/165
BUY IDFC SL 159 TGT 165/167/169
POSITIONAL PICKS
IDFC TGT 200
SREI TGT 97
WITH STRONG INTRADAY GAINS IN THE OPENING OF THE MARKETS, IT COULD NOT HOLD THE SAME MOMENTUM TILL THE END AS INDICES EDGED SLIGHTLY HIGHER IN A VOLATILE TRADING SESSION AS PROFIT BOOKING TOOK PLACE IN FRONTLINE STOCKS. WITH WORLD MARKETS ON THE POSITIVE SIDE EUROPEAN, ASIAN MARKETS AND US INDEX FUTURES TRADING FIRM MARKET BREADTH REMAINED STRONG. REALTY SHARES EXTENDED THURSDAY'S GAINS ON FOLLOW-UP BUYING. BANKING AND TELECOM STOCKS ADVANCED ON FRESH BUYING. METAL STOCKS DECLINED MIRRORING A FALL IN METAL 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.
TODAY MARKET LOOKS VERY RANGE BOUND. IF NIFTY TRADES ABOVE 5141 THEN LIKELY TO MOVE UP TO 5171 IF THIS LEVEL IS BREACHED AND TRADED ABOVE THEN LIKELY TO SEE NEW HIGHS IN NIFTY. AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5100 THEN LIKELY TO DRIFT DOWN TO 5060 AND ANY TRADE BELOW 5044 AND CLOSE BELOW THIS POINT WOULD TURN THE DIRECTION OF THE MARKETS. STOCKS LOOKING POSITIVE ARE FORTIS, HEROHONDA,MARUTI, MUNDRA PORT, ICICI BANK.
BUY SIEMENS SL 734 TGT 744/751/762
BUY MARUTI SL 1464 TGT 1498/1513/1520
BUY BOMBAY DYEING SL 574 TGT 592/602/617
BUY MAHINDRA FORGING SL 135 TGT 149/159/165
BUY IDFC SL 159 TGT 165/167/169
POSITIONAL PICKS
IDFC TGT 200
SREI TGT 97
