GOOD MORNING!!!
INDICES RECOVERD FROM DAY LOW AND CLOSED FLAT AFTER A HIGHLY VOLATILE SESSION, EUROPEN STOCKS HELPED RECOVERY IN THE SECOND HALF, THOUGH INDUSTRIAL PRODUCTION DATA WAS STRONG EXPECTATIONS OF RATE HIKE BY RESERVE BANK OF INDIA HAS PUT MARKET SUBDUED AT THE END. IT, REALITY AND BANKING STOCKS FELL AND OVERALL BREADTH OF THE MARKET REMAINED WEAK. INDUSTRIAL OUTPUT ROSE A ROBUST 16.7% IN JANUARY 2010 FROM A YEAR EARLIER, SLIGHTLY STRONGER THAN MARKET EXPECTATIONS AIDED BY STIMULUS MEASURE THAT BOOSTED DOMESTED DEMAND, MANUFACTURING OUTPUT JUMPED 17.9%. THE GOVERNMENT REVISED UPWARDS INDUSTRIAL PRODUCTION GROWTH FOR DECEMBER 2009 TO A RECORD LEVEL OF 17.6% FROM EARLIER 16.8%.
TODAY THE MAJOR TRIGGER IN THE MARKET FOR THE MONTH IS ADVANCED TAXES FOR THE FOURTH QUARTER. INVESTORS WILL EYE FIGURES OF ADVANCED TAX PAYMENT BY TOP INDIAN COMPANIES WHICH WILL GIVE A CLEAR INDICATION OF THE EARNINGS OF THE QUARTER WHICH IS DUE TODAY. IT MIGHT BE THE LAST TRIGGER FOR THE MARKETS FOR THE UPTREND AFTER THE ADVANCED TAXES WE MAY SEE A CHANGE IN THE TREND IN COMING DAYS AND BEFORE HEADING TOWARDS NEW HIGHS MARKETS ARE TO COME DOWN IN ORDER TO MOVE UP. TODAY IF NIFTY TRADES ABOVE 5150 THEN LIKELY TO TAKE NIFTY TO 5177 AND ANY CLOSE ABOVE 5150 IS CONSIDERED TO BE STRONG AND CAN HEAD TOWARDS 5300 LEVELS ON NIFTY AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5120 THEN LIKELY TO SEE A DIP TILL 5097 AND TRADE BELOW THIS LEVEL WOULD LIKELY TO TAKE NIFTY TO 5060 AND THEN TO 5002 LEVELS ANY BREAK BELOW 5040 ON CLOSING BASIS WOULD BE CONSIDERED AS WEAK AND WE MAY SEE NIFTY TO SLIDE DOWN TO 4944.
INDICES RECOVERD FROM DAY LOW AND CLOSED FLAT AFTER A HIGHLY VOLATILE SESSION, EUROPEN STOCKS HELPED RECOVERY IN THE SECOND HALF, THOUGH INDUSTRIAL PRODUCTION DATA WAS STRONG EXPECTATIONS OF RATE HIKE BY RESERVE BANK OF INDIA HAS PUT MARKET SUBDUED AT THE END. IT, REALITY AND BANKING STOCKS FELL AND OVERALL BREADTH OF THE MARKET REMAINED WEAK. INDUSTRIAL OUTPUT ROSE A ROBUST 16.7% IN JANUARY 2010 FROM A YEAR EARLIER, SLIGHTLY STRONGER THAN MARKET EXPECTATIONS AIDED BY STIMULUS MEASURE THAT BOOSTED DOMESTED DEMAND, MANUFACTURING OUTPUT JUMPED 17.9%. THE GOVERNMENT REVISED UPWARDS INDUSTRIAL PRODUCTION GROWTH FOR DECEMBER 2009 TO A RECORD LEVEL OF 17.6% FROM EARLIER 16.8%.
TODAY THE MAJOR TRIGGER IN THE MARKET FOR THE MONTH IS ADVANCED TAXES FOR THE FOURTH QUARTER. INVESTORS WILL EYE FIGURES OF ADVANCED TAX PAYMENT BY TOP INDIAN COMPANIES WHICH WILL GIVE A CLEAR INDICATION OF THE EARNINGS OF THE QUARTER WHICH IS DUE TODAY. IT MIGHT BE THE LAST TRIGGER FOR THE MARKETS FOR THE UPTREND AFTER THE ADVANCED TAXES WE MAY SEE A CHANGE IN THE TREND IN COMING DAYS AND BEFORE HEADING TOWARDS NEW HIGHS MARKETS ARE TO COME DOWN IN ORDER TO MOVE UP. TODAY IF NIFTY TRADES ABOVE 5150 THEN LIKELY TO TAKE NIFTY TO 5177 AND ANY CLOSE ABOVE 5150 IS CONSIDERED TO BE STRONG AND CAN HEAD TOWARDS 5300 LEVELS ON NIFTY AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5120 THEN LIKELY TO SEE A DIP TILL 5097 AND TRADE BELOW THIS LEVEL WOULD LIKELY TO TAKE NIFTY TO 5060 AND THEN TO 5002 LEVELS ANY BREAK BELOW 5040 ON CLOSING BASIS WOULD BE CONSIDERED AS WEAK AND WE MAY SEE NIFTY TO SLIDE DOWN TO 4944.
BUY CAIRN SL 269 TGT 279/282 /285
BUY ASHOK LEYLAND SL 49 TGT 52/53/54
BUY GTL INFRA SL 40.40 TGT 42/43/44
BUY HOTEL LEELA SL 44.90 TGT 47/48/49
BUY ASHOK LEYLAND SL 49 TGT 52/53/54
BUY GTL INFRA SL 40.40 TGT 42/43/44
BUY HOTEL LEELA SL 44.90 TGT 47/48/49
