GOOD MORNING!!!
INDICES RECOVERED FROM THE DAYS LOW AND CLOSED FLAT AFTER MOVING BETWEEN THE POSITIVE AND NEGATIVE TERRAIN THROUGHOUT THE DAY. HIGHER EUROPEAN STOCKS HELPED A LATE RECOVERY ON THE DOMESTIC BOURSES. BUT THE MARKET ENDED OFF THE DAY'S HIGH AS STRONG INDUSTRIAL PRODUCTION DATA FOR JANUARY 2010 REINFORCED EXPECTATIONS OF A RATE HIKE BY THE RESERVE BANK OF INDIA. IT, REALTY AND BANKING STOCKS FELL. THE MARKET BREADTH WAS WEAK. THE MARKET WITNESSED BOUTS OF INTRADAY VOLATILITY. STOCKS PARED GAINS SOON AFTER HITTING 1-1/2 MONTH HIGHS AT THE ONSET OF THE TRADING SESSION. THE MARKET REGAINED STRENGTH IN MORNING TRADE. THE MARKET ONCE AGAIN TRIMMED GAINS IN MID-MORNING TRADE. THE MARKET MOVED BETWEEN POSITIVE AND NEGATIVE ZONE IN EARLY AFTERNOON TRADE. THE MARKET CUT LOSSES AFTER HITTING A FRESH INTRADAY LOW IN AFTERNOON TRADE. THE MARKET HIT A FRESH INTRADAY LOW IN MID-AFTERNOON TRADE. THE MARKET REGAINED POSITIVE ZONE IN LATE TRADE.
WE HAVE WITNESSED A LOT OF RANGE BOUND ACTIVITY IN THE MARKET WHICH CLEARLY INDICATES THAT THE MARKET IS WAITING FOR THE NEXT MOVE FOR A BREAK-OUT AND NOW IN THE CONSOLIDATION PHASE. MARKET HAS TO COME DOWN INORDER TO GO UP IF MARKET DOESN’T COME DOWN BEFORE GOING UP IT IS ALWAYS RISKY FOR AN INVESTOR THAT MARKET WOULD BE PRONE TO PRESSURE AT ANY TIME AND LIKELY TO GIVE UP MUCH MORE THAN ANTICIPATED ON PANIC, BUT IF MARKET CORRECTS FROM THIS POINT THEN IT WOULD GIVE A DIRECTION FOR INVESTING IN THE MARKETS. IF NIFTY TRADES BELOW 5120 THEN LIKELY TO DRIFT DOWN TO 5097 AND BREAK BELOW THIS WOULD COME DOWN TO 5060 AND ANY CLOSE BELOW THIS LEVEL WOULD BE WEAK AND CAN INITIATE SHORTS AND ON THE UPSIDE IF NIFTY TRADES ABOVE 5140 THEN WOULD GO TO 5170 AND ABOVE THAT WOULD LEAD NIFTY TO 5200 AND ANY CLOSE ABOVE 5170 WOULD DRIVE NIFTY TO 5300 LEVELS IN A VERY SHORT TIME.
INDICES RECOVERED FROM THE DAYS LOW AND CLOSED FLAT AFTER MOVING BETWEEN THE POSITIVE AND NEGATIVE TERRAIN THROUGHOUT THE DAY. HIGHER EUROPEAN STOCKS HELPED A LATE RECOVERY ON THE DOMESTIC BOURSES. BUT THE MARKET ENDED OFF THE DAY'S HIGH AS STRONG INDUSTRIAL PRODUCTION DATA FOR JANUARY 2010 REINFORCED EXPECTATIONS OF A RATE HIKE BY THE RESERVE BANK OF INDIA. IT, REALTY AND BANKING STOCKS FELL. THE MARKET BREADTH WAS WEAK. THE MARKET WITNESSED BOUTS OF INTRADAY VOLATILITY. STOCKS PARED GAINS SOON AFTER HITTING 1-1/2 MONTH HIGHS AT THE ONSET OF THE TRADING SESSION. THE MARKET REGAINED STRENGTH IN MORNING TRADE. THE MARKET ONCE AGAIN TRIMMED GAINS IN MID-MORNING TRADE. THE MARKET MOVED BETWEEN POSITIVE AND NEGATIVE ZONE IN EARLY AFTERNOON TRADE. THE MARKET CUT LOSSES AFTER HITTING A FRESH INTRADAY LOW IN AFTERNOON TRADE. THE MARKET HIT A FRESH INTRADAY LOW IN MID-AFTERNOON TRADE. THE MARKET REGAINED POSITIVE ZONE IN LATE TRADE.
WE HAVE WITNESSED A LOT OF RANGE BOUND ACTIVITY IN THE MARKET WHICH CLEARLY INDICATES THAT THE MARKET IS WAITING FOR THE NEXT MOVE FOR A BREAK-OUT AND NOW IN THE CONSOLIDATION PHASE. MARKET HAS TO COME DOWN INORDER TO GO UP IF MARKET DOESN’T COME DOWN BEFORE GOING UP IT IS ALWAYS RISKY FOR AN INVESTOR THAT MARKET WOULD BE PRONE TO PRESSURE AT ANY TIME AND LIKELY TO GIVE UP MUCH MORE THAN ANTICIPATED ON PANIC, BUT IF MARKET CORRECTS FROM THIS POINT THEN IT WOULD GIVE A DIRECTION FOR INVESTING IN THE MARKETS. IF NIFTY TRADES BELOW 5120 THEN LIKELY TO DRIFT DOWN TO 5097 AND BREAK BELOW THIS WOULD COME DOWN TO 5060 AND ANY CLOSE BELOW THIS LEVEL WOULD BE WEAK AND CAN INITIATE SHORTS AND ON THE UPSIDE IF NIFTY TRADES ABOVE 5140 THEN WOULD GO TO 5170 AND ABOVE THAT WOULD LEAD NIFTY TO 5200 AND ANY CLOSE ABOVE 5170 WOULD DRIVE NIFTY TO 5300 LEVELS IN A VERY SHORT TIME.
NO RECOS FOR THE DAY
