GOOD MORNING!!!
MOST IMPORTANT DRIVE IN THE MARKET WAS NOTHING OTHER THAN VOLATILITY WHICH AS RULED THE ROOST AFTER TOUCHING THE PSYCHOLOGICAL FIGURE OF 18000 IN SENSEX AND NEAR TO 5400 IN NIFTY. MARKET MOVED IN A VERY NARROW RANGE IN THE ENTIRE DAY. REALTY STOCKS GAINED. AUTO STOCKS ALSO ROSE ON THE BACK OF ROBUST MARCH 2010 SALES FIGURES. CAPITAL GOODS STOCKS GAINED AND FMCG SHARES DECLINED ON PROFIT TAKING. THE MARKET BREADTH, INDICATING THE OVERALL HEALTH OF THE MARKET, WAS STRONG. IT STOCKS DECLINED ON A RECENT SURGE IN RUPEE AGAINST THE DOLLAR. IN THE NEAR TERM WE MAY SEE STOCK SPECIFIC ACTION TO RULE THE ROOST OF THE MARKET ON EXPECTATIONS OF Q4 MARCH 2010 RESULTS.
TODAY MARKET LOOKS FLAT BUT THE MARKETS ARE AT KEY ZONE ONE HAS TO WATCH OUT CAREFULLY ON THE LEVELS FOR TRADING ON INTRADAY PERSPECTIVE, IF NIFTY TRADES ABOVE 5397 ONLY THEN ONE IS ADVISED TO GO LONG ON INTRADAY BASIS FOR A TARGET OF 5440 LEVELS AND BREAK ABOVE WOULD TAKE TO 5535 LEVELS ON POSITIONAL FRONT. AND ON THE DOWNSIDE IF NIFTY TRADES 5360 THEN LIKELY TO COME DOWN TO 5340 AND THEN TO 5305 LEVELS ANY CLOSE BELOW 5300 WOULD BE WEAK. WE MAY SEE STOCK SPECIFIC ACTIVITY MOVING FROM HERE ON. POWER STOCKS LOOKING GOOD.
BUY RPOWER SL 154.9 TGT 161/163/165
BUY POWER GRID SL 109 TGT 111/114/116
SELL GMRINFRA SL 61.6 TGT 59.4/58.7/57
