GOOD MORNING!!!
INDICES HAS HIT THEIR HIGHEST LEVEL IN MORE THAN TWO YEARS ON FIRM GLOBAL INDICIES AND ON THE EXPECTATIONS OF GOOD Q4 RESULTS. THOUGH THE MARKET SPURTED AND INDICIES TRADING IN PREMIUM, THE DAY WAS RECORDED WITH LOW VOLUMES WITH MARKET BREADTH INDICATING A WEAKNESS. HEAVY BUYING IN MARKETS ARE DUE TO FOREIGN FUNDS WHO HAVE MADE HEAVY PURCHASES OF INDIAN STOCKS THIS MONTH. AS PER DATA FROM THE STOCK EXCHANGES, FOREIGN INSTITUTIONAL INVESTORS (FIIS) BOUGHT STOCKS WORTH A NET RS 12716.71 CRORE THIS MONTH, TILL 26 MARCH 2010. ALL IN ALL MARKET GAINED AROUND 20 POINTS AND FUTURES TRADING AROUND 16 POINTS PREMIUM. BANKING, METAL, CONSUMER DURABLES AND AUTO STOCKS LED THE GAINS.
TODAY MARKETS WOULD BE RANGE BOUND UNLESS AND UNTIL THE SPECIFIED LEVELS ARE BREACHED. TODAY IF NIFTY TRADES ABOVE 5325 THEN LIKELY TO TEST 5350 AND BREAK ABOVE WOULD LEAD NIFTY TO 5400 AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5266 THEN LIKELY TO COME DOWN TO 5240 AND BREAK BELOW WOULD TAKE NIFTY TO 5205 ANY CLOSE BELOW 5240 IS CONSIDERED TO BE WEAK AND WE MAY HEAD DOWNSIDE ONE CAN INITIATE SHORT BELOW 5240 ON CLOSING BASIS.
BUY LICHSG SL 875 TGT 890/895/900
BUY NAGARCONS SL 159 TGT 165/168/170
BUY HINDCONS SL 133 TGT 137/138.7/140.6
INDICES HAS HIT THEIR HIGHEST LEVEL IN MORE THAN TWO YEARS ON FIRM GLOBAL INDICIES AND ON THE EXPECTATIONS OF GOOD Q4 RESULTS. THOUGH THE MARKET SPURTED AND INDICIES TRADING IN PREMIUM, THE DAY WAS RECORDED WITH LOW VOLUMES WITH MARKET BREADTH INDICATING A WEAKNESS. HEAVY BUYING IN MARKETS ARE DUE TO FOREIGN FUNDS WHO HAVE MADE HEAVY PURCHASES OF INDIAN STOCKS THIS MONTH. AS PER DATA FROM THE STOCK EXCHANGES, FOREIGN INSTITUTIONAL INVESTORS (FIIS) BOUGHT STOCKS WORTH A NET RS 12716.71 CRORE THIS MONTH, TILL 26 MARCH 2010. ALL IN ALL MARKET GAINED AROUND 20 POINTS AND FUTURES TRADING AROUND 16 POINTS PREMIUM. BANKING, METAL, CONSUMER DURABLES AND AUTO STOCKS LED THE GAINS.
TODAY MARKETS WOULD BE RANGE BOUND UNLESS AND UNTIL THE SPECIFIED LEVELS ARE BREACHED. TODAY IF NIFTY TRADES ABOVE 5325 THEN LIKELY TO TEST 5350 AND BREAK ABOVE WOULD LEAD NIFTY TO 5400 AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5266 THEN LIKELY TO COME DOWN TO 5240 AND BREAK BELOW WOULD TAKE NIFTY TO 5205 ANY CLOSE BELOW 5240 IS CONSIDERED TO BE WEAK AND WE MAY HEAD DOWNSIDE ONE CAN INITIATE SHORT BELOW 5240 ON CLOSING BASIS.
BUY LICHSG SL 875 TGT 890/895/900
BUY NAGARCONS SL 159 TGT 165/168/170
BUY HINDCONS SL 133 TGT 137/138.7/140.6
