GOOD MORNING!!!
HEAVY CONTINUAL SUSTAINED BUYING IN ALL THE FRONT END STOCKS LIFTED THE INDICES TO THE NEW HIGHS OF 25 MONTHS. GLOBAL INDICES ALSO ON A VERY BULLISH NOTE, US MARKETS ARE AT 18 MONTH HIGH AND ASIAN MARKETS AT 19 MONTH HIGH. MARKET OPENED POSITIVE ON THE GLOBAL CUES BUT COULDN’T SUSTAINED THE FIRM OPENING, IT CAME OFF FROM THE OPENING HIGH AND MARKET RETESTED THE HIGHER LEVELS BY NOON AND AGAIN GAVE OFF AFTER FORMING A DOUBLE TOP AND LATER IN THE LATE AFTERNOON TRADE IN THE CLOSING BELL MARKET TOOK OFF TO THE NEW HIGHS SURPASSING ALL THE BARRIERS IN THE INDICES OF 25 MONTHS.THE MARKET BREADTH WAS STRONG. WITH MONTHLY SALES OF AUTO FIRMS OUTPERFORMING AUTO STOCKS WERE IN DEMAND. METAL STOCKS ROSE ON FIRM CLOSING AT LME PREVIOUS CLOSING. IT STOCKS DECLINED IN VOLATILE TRADE ON A FIRM RUPEE.
TODAY MARKET LOOKS POSITIVE, AS NIFTY TRADED WITH GOOD VOLUMES YESTERDAY AND MARKET CLOSED ON HIGHER HIGHS OF THE DAY LIKELY TO OPEN POSITIVE. IF NIFTY TRADES ABOVE 5370 LIKELY TO TOUCH 5400 LEVELS WHERE YOU FIND GOOD RESISTANCE BUT IF NIFTY MANAGES TO CROSS 5400 LEVELS THEN WE CAN SEE NIFTY TO MOVE FURTHER HIGHS AND WILL MANAGE TO GIVE GOOD SHOW EVEN ON THE RESULTS FRONT AS THE ADVANCED TAX PAYEMENTS WERE BEYOND EXPECTATIONS, LIKELY TO MOVE UP FURTHER ON THE RESULTS. ANOTHER MAJOR TRIGGER FOR MARKETS IS MANSOON REPORT LIKELY TO BE ANNOUNCED IN THE NEXT WEEK WHICH WILL ACT AS A KEY TRIGGER ANY POSITIVE NEWS WOULD TRIG MARKET TO 5600 LEVELS ALONG WITH THE RESULTS. ON THE NEGATIVE SIDE IF NIFTY TRADES 5342 THEN LIKELY TO MAKE A DIP TO 5324 LEVELS AND ANY BREAK WOULD MAKE NIFTY TO DRIFT DOWN TO 5302 LEVELS AND IF NIFTY DOES NOT MANAGE TO HOLD THIS LEVEL THEN MAY SEE FURTHER DOWNFALL TO 5276 LEVELS, ANY CLOSING BELOW 5300 IS CONSIDERED TO BE WEAK ON SHORT TERM.
POSITIVE STOCKS: ALBK, RAYMOND, HDIL, UNITECH, BAJAJ AUTO, BANK OF BARODA, BANK INDIA, BHARTI, BHEL, GSPL, RCOM, BIOCON, BHUSHAN STEEL
BUY ABIRLA NUVO SL 914 TGT 934/946/962*
BUY NAGARCONST SL 172 TGT 178/182/184*
BUY PRAJ SL 88 TGT 92/94/96
BUY JUBLFOOD SL 349 TGT 400/424/450
BUY DLF SL 319 TGT 329/335/339
BUY RELIANCE SL 1118 TGT 1138/1142/ 114
BUY IBREALEST SL 151.90 TGT 162/164/168
POSITIONAL TRADES
BUY HDFC TGT 2885 CMP 2789
HEAVY CONTINUAL SUSTAINED BUYING IN ALL THE FRONT END STOCKS LIFTED THE INDICES TO THE NEW HIGHS OF 25 MONTHS. GLOBAL INDICES ALSO ON A VERY BULLISH NOTE, US MARKETS ARE AT 18 MONTH HIGH AND ASIAN MARKETS AT 19 MONTH HIGH. MARKET OPENED POSITIVE ON THE GLOBAL CUES BUT COULDN’T SUSTAINED THE FIRM OPENING, IT CAME OFF FROM THE OPENING HIGH AND MARKET RETESTED THE HIGHER LEVELS BY NOON AND AGAIN GAVE OFF AFTER FORMING A DOUBLE TOP AND LATER IN THE LATE AFTERNOON TRADE IN THE CLOSING BELL MARKET TOOK OFF TO THE NEW HIGHS SURPASSING ALL THE BARRIERS IN THE INDICES OF 25 MONTHS.THE MARKET BREADTH WAS STRONG. WITH MONTHLY SALES OF AUTO FIRMS OUTPERFORMING AUTO STOCKS WERE IN DEMAND. METAL STOCKS ROSE ON FIRM CLOSING AT LME PREVIOUS CLOSING. IT STOCKS DECLINED IN VOLATILE TRADE ON A FIRM RUPEE.
TODAY MARKET LOOKS POSITIVE, AS NIFTY TRADED WITH GOOD VOLUMES YESTERDAY AND MARKET CLOSED ON HIGHER HIGHS OF THE DAY LIKELY TO OPEN POSITIVE. IF NIFTY TRADES ABOVE 5370 LIKELY TO TOUCH 5400 LEVELS WHERE YOU FIND GOOD RESISTANCE BUT IF NIFTY MANAGES TO CROSS 5400 LEVELS THEN WE CAN SEE NIFTY TO MOVE FURTHER HIGHS AND WILL MANAGE TO GIVE GOOD SHOW EVEN ON THE RESULTS FRONT AS THE ADVANCED TAX PAYEMENTS WERE BEYOND EXPECTATIONS, LIKELY TO MOVE UP FURTHER ON THE RESULTS. ANOTHER MAJOR TRIGGER FOR MARKETS IS MANSOON REPORT LIKELY TO BE ANNOUNCED IN THE NEXT WEEK WHICH WILL ACT AS A KEY TRIGGER ANY POSITIVE NEWS WOULD TRIG MARKET TO 5600 LEVELS ALONG WITH THE RESULTS. ON THE NEGATIVE SIDE IF NIFTY TRADES 5342 THEN LIKELY TO MAKE A DIP TO 5324 LEVELS AND ANY BREAK WOULD MAKE NIFTY TO DRIFT DOWN TO 5302 LEVELS AND IF NIFTY DOES NOT MANAGE TO HOLD THIS LEVEL THEN MAY SEE FURTHER DOWNFALL TO 5276 LEVELS, ANY CLOSING BELOW 5300 IS CONSIDERED TO BE WEAK ON SHORT TERM.
POSITIVE STOCKS: ALBK, RAYMOND, HDIL, UNITECH, BAJAJ AUTO, BANK OF BARODA, BANK INDIA, BHARTI, BHEL, GSPL, RCOM, BIOCON, BHUSHAN STEEL
BUY ABIRLA NUVO SL 914 TGT 934/946/962*
BUY NAGARCONST SL 172 TGT 178/182/184*
BUY PRAJ SL 88 TGT 92/94/96
BUY JUBLFOOD SL 349 TGT 400/424/450
BUY DLF SL 319 TGT 329/335/339
BUY RELIANCE SL 1118 TGT 1138/1142/ 114
BUY IBREALEST SL 151.90 TGT 162/164/168
POSITIONAL TRADES
BUY HDFC TGT 2885 CMP 2789
