GOOD MORNING!!!
KEY INDICES EDGED HIGHER IN THE EARLY TRADE ON BUYING IN THE INDEX PIVOTALS. THOUGH TRADING WAS RANGE BOUND AS STOCKS ARE IN THE PHASE OF CONSOLIDATION AS MARKETS HAVE RALLIED IN THE RECENT PAST. YESTERDAY AFTER INDICES HIT THE HIGHS OF 25 MONTHS THERE WAS SOME PROFIT BOOKING CROPPED IN THE VOLUMES WERE NOT THAT HIGH IN THE NIFTY AND THE DAY WAS IN A VERY NARROW RANGE, MARKET WAS ALL IN ALL VERY RANGE BOUND BUT BREADTH OF THE MARKET REMAINED STRONG.
TODAY MARKETS MAY OPEN POSITIVE TO FLAT AND WOULD REMAIN RANGE BOUND UNTIL THE SPECIFIED LEVELS ARE CROSSED. IF NIFTY TRADES ABOVE 5400 THEN LIKELY TO MOVE UP TO 5440 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5500 LEVELS ANY CLOSING ABOVE 5400 IS CONSIDERED TO BE VERY GOOD AND LIKELY TO TEST 5500 LEVELS VERY SOON. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5338 THEN LIKELY TO COME DOWN TO 5302 LEVELS AND ANY BREAK BELOW THIS LEVEL WOULD DRAG TO 5270 AND CLOSING BELOW 5270 IS CONSIDERED TO BE WEAK AND FURTHER WEAKNESS WILL CROP IN BELOW THIS LEVEL ONE IS ADVISED TO EXIT LONGS IF NIFTY CLOSES BELOW 5270.
BUY ASSAM COMPANY SL 22.90 TGT 25/ 25.75/26.5
BUY RNRL SL 64 TGT 68/69/70
BUY KFA SL 47 TGT 49.8/50.9/52
BUY TATASTEEL SL 684 TGT 692/695/699
POSITIONAL CALLS
BUY ASSAM COMPANY TGT 30 SHORT TERM
KEY INDICES EDGED HIGHER IN THE EARLY TRADE ON BUYING IN THE INDEX PIVOTALS. THOUGH TRADING WAS RANGE BOUND AS STOCKS ARE IN THE PHASE OF CONSOLIDATION AS MARKETS HAVE RALLIED IN THE RECENT PAST. YESTERDAY AFTER INDICES HIT THE HIGHS OF 25 MONTHS THERE WAS SOME PROFIT BOOKING CROPPED IN THE VOLUMES WERE NOT THAT HIGH IN THE NIFTY AND THE DAY WAS IN A VERY NARROW RANGE, MARKET WAS ALL IN ALL VERY RANGE BOUND BUT BREADTH OF THE MARKET REMAINED STRONG.
TODAY MARKETS MAY OPEN POSITIVE TO FLAT AND WOULD REMAIN RANGE BOUND UNTIL THE SPECIFIED LEVELS ARE CROSSED. IF NIFTY TRADES ABOVE 5400 THEN LIKELY TO MOVE UP TO 5440 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5500 LEVELS ANY CLOSING ABOVE 5400 IS CONSIDERED TO BE VERY GOOD AND LIKELY TO TEST 5500 LEVELS VERY SOON. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5338 THEN LIKELY TO COME DOWN TO 5302 LEVELS AND ANY BREAK BELOW THIS LEVEL WOULD DRAG TO 5270 AND CLOSING BELOW 5270 IS CONSIDERED TO BE WEAK AND FURTHER WEAKNESS WILL CROP IN BELOW THIS LEVEL ONE IS ADVISED TO EXIT LONGS IF NIFTY CLOSES BELOW 5270.
BUY ASSAM COMPANY SL 22.90 TGT 25/ 25.75/26.5
BUY RNRL SL 64 TGT 68/69/70
BUY KFA SL 47 TGT 49.8/50.9/52
BUY TATASTEEL SL 684 TGT 692/695/699
POSITIONAL CALLS
BUY ASSAM COMPANY TGT 30 SHORT TERM
