GOOD MORNING!!!
THE MARKET EDGED HIGHER IN EARLY TRADE ON FIRM ASIAN STOCKS. IT REMAINED RANGE-BOUND LATER. THE MARKET SLIPPED INTO THE RED IN MORNING TRADE. IT CAME OFF THE LOWER LEVEL IN MID-MORNING TRADE, REGAINING POSITIVE ZONE. THE MARKET ONCE AGAIN MOVED IN A NARROW RANGE IN EARLY AFTERNOON TRADE. THE MARKET ONCE AGAIN SLIPPED INTO THE RED IN MID-AFTERNOON TRADE. STOCKS EXTENDED LOSSES IN LATE TRADE INDICES EDGED LOWER AS PROFIT TAKING EMERGED AFTER THE MARKET SCALED TWO-YEAR HIGH. NEVERTHELESS, THE MARKET BREADTH WAS STRONG, WITH SOME SIDE COUNTERS SURGING SHARPLY. IT STOCKS FELL ON A FIRM RUPEE. BANKING AND AUTO STOCKS ALSO EDGED LOWER. BUT, REALTY STOCKS GAINED.
TODAY WE MAY SEE A NEGATIVE OPENING ON THE NIFTY. TODAY IF NIFTY TRADES BELOW 5264 THEN LIKELY TO COME DOWN TO 5236 AND BREAK BELOW THIS LEVEL WOULD TOUCH 5207 AND ANY BREAK AND CLOSE BELOW 5200 WOULD LEAD NIFTY TO 5139 LEVELS MAKING THE MARKETS WEAKER IN THE SHORT TERM. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5302 THEN LIKELY TO 5330 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5350 LEVELS AND ANY CLOSING ABOVE 5330 IS CONSIDERED TO BE VERY BULLISH AND WE MAY SEE NIFTY TO TOUCH 5400 TO 5500 LEVELS IN A VERY NEAR TERM. IF NIFTY DOESN’T BREACH 5264 LEVELS THEN LIKELY TO BOUNCE BACK AS THIS IS CRUCIAL LEVEL FOR NIFTY IN THE NEAR TERM.
BUY RPOWER SL 147 TGT 153/155/157.6
BUY MSK PROJECTS SL 159.40 TGT 168/174/182
BUY PIPAVAV SL 67 TGT 73/74/75
BUY SREI INFRA SL 73 TGT 78/80/83
THE MARKET EDGED HIGHER IN EARLY TRADE ON FIRM ASIAN STOCKS. IT REMAINED RANGE-BOUND LATER. THE MARKET SLIPPED INTO THE RED IN MORNING TRADE. IT CAME OFF THE LOWER LEVEL IN MID-MORNING TRADE, REGAINING POSITIVE ZONE. THE MARKET ONCE AGAIN MOVED IN A NARROW RANGE IN EARLY AFTERNOON TRADE. THE MARKET ONCE AGAIN SLIPPED INTO THE RED IN MID-AFTERNOON TRADE. STOCKS EXTENDED LOSSES IN LATE TRADE INDICES EDGED LOWER AS PROFIT TAKING EMERGED AFTER THE MARKET SCALED TWO-YEAR HIGH. NEVERTHELESS, THE MARKET BREADTH WAS STRONG, WITH SOME SIDE COUNTERS SURGING SHARPLY. IT STOCKS FELL ON A FIRM RUPEE. BANKING AND AUTO STOCKS ALSO EDGED LOWER. BUT, REALTY STOCKS GAINED.
TODAY WE MAY SEE A NEGATIVE OPENING ON THE NIFTY. TODAY IF NIFTY TRADES BELOW 5264 THEN LIKELY TO COME DOWN TO 5236 AND BREAK BELOW THIS LEVEL WOULD TOUCH 5207 AND ANY BREAK AND CLOSE BELOW 5200 WOULD LEAD NIFTY TO 5139 LEVELS MAKING THE MARKETS WEAKER IN THE SHORT TERM. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5302 THEN LIKELY TO 5330 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5350 LEVELS AND ANY CLOSING ABOVE 5330 IS CONSIDERED TO BE VERY BULLISH AND WE MAY SEE NIFTY TO TOUCH 5400 TO 5500 LEVELS IN A VERY NEAR TERM. IF NIFTY DOESN’T BREACH 5264 LEVELS THEN LIKELY TO BOUNCE BACK AS THIS IS CRUCIAL LEVEL FOR NIFTY IN THE NEAR TERM.
BUY RPOWER SL 147 TGT 153/155/157.6
BUY MSK PROJECTS SL 159.40 TGT 168/174/182
BUY PIPAVAV SL 67 TGT 73/74/75
BUY SREI INFRA SL 73 TGT 78/80/83
