GOOD MORNING!!!
KEY BENCHMARK INDICES SLUMPED DOWN ON WEAKNESS IN THE GLOBAL MARKETS AND PROFIT TAKING AFTER A THREE MONTH NON STOP RALLY FURTHER MARKETS GOT WEAKER WHEN THE INFLATION DATA WAS RELEASED ON THE SURGE IN FOOD INFLATION FROM 16.35% TO 17.70% MARKET GOT WEAKENED FURTHER, THIS MAY PUT PRESSURE ON RESERVE BANK OF INDIA TO REVIEW ITS MONETARY POLICY WHICH IS SCHEDULED ON 20 APRIL 2010, ON THIS NOTE AUTO AND BANKING STOCKS FELL. THE BREADTH OF THE MARKET TURNED NEGATIVE. STOCK SPECIFIC ACTIVITY WILL RULE IN THE MARKET IN THE NEAR TERM BASED ON THE EXPECTATIONS OF Q4 AS THERE ARE GOOD EXPECTATIONS OF FOURTH QUARTER RESULT AND HEAVY FOREIGN FUND INFLOWS AND RELEASE OF MONSOON REPORT BY METEOROLOGICAL DEPARTMENT THESE ARE TWO MAIN TRIGGER IN THE MARKET WHICH MAY LIKELY TO CONTAIN THE MARKET FROM DROPPING DOWN.
TODAY MARKET IF TRADES BELOW 5290 THEN LIKELY TO COME DOWN TO 5275 AND BREAK BELOW THIS LEVEL WOULD BE 5245 LEVELS AND ANY FURTHER WEAKNESS WOULD DRIFT DOWN NIFTY TO 5205 WHICH IS KEY ZONE FOR NIFTY TO HOLD IN THE NEAR TERM ANY BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO MUCH LOWER. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5315 LIKELY TO GO UP TO 5342 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5370 LEVELS AND CLOSE ABOVE 5342 WOULD TAKE NIFTY TO NEW HIGHS OF THE YEAR. TODAY WE MAY SEE LOT OF ACTIVITY AND VOLATILITY IN TELECOM SHARE AHEAD OF 3G AUCTION TODAY.
POSITIVE STOCKS: VOLTAS, PHOENIX MILLS, KSK ENERGY, BPCL, VIPIND, SOBHA, VENKEYS, CARBORUNIV, IGL, TATA COFFEE.
WEAK STOCKS: CAIRN, HINDOILEXP, ONGC
BUY ESSAROIL SL 148.5 TGT 153/155/159
BUY SESAGOA SL 484 TGT 494/497/500
BUY JAICORPLTD SL 278 TGT 289/294/299
BUY STER SL 859 TGT 872/876/880
BUY RIIL SL 887 TGT 917/930/954
BUY MPHASIS SL 646 TGT 658/665/672
BUY DABUR SL 169 TGT 172/173.75/175.4
POSITIONAL TRADES
BUY SHREE PRECOATED STEELS LTD CMP 17 TGT 27/54/67
KEY BENCHMARK INDICES SLUMPED DOWN ON WEAKNESS IN THE GLOBAL MARKETS AND PROFIT TAKING AFTER A THREE MONTH NON STOP RALLY FURTHER MARKETS GOT WEAKER WHEN THE INFLATION DATA WAS RELEASED ON THE SURGE IN FOOD INFLATION FROM 16.35% TO 17.70% MARKET GOT WEAKENED FURTHER, THIS MAY PUT PRESSURE ON RESERVE BANK OF INDIA TO REVIEW ITS MONETARY POLICY WHICH IS SCHEDULED ON 20 APRIL 2010, ON THIS NOTE AUTO AND BANKING STOCKS FELL. THE BREADTH OF THE MARKET TURNED NEGATIVE. STOCK SPECIFIC ACTIVITY WILL RULE IN THE MARKET IN THE NEAR TERM BASED ON THE EXPECTATIONS OF Q4 AS THERE ARE GOOD EXPECTATIONS OF FOURTH QUARTER RESULT AND HEAVY FOREIGN FUND INFLOWS AND RELEASE OF MONSOON REPORT BY METEOROLOGICAL DEPARTMENT THESE ARE TWO MAIN TRIGGER IN THE MARKET WHICH MAY LIKELY TO CONTAIN THE MARKET FROM DROPPING DOWN.
TODAY MARKET IF TRADES BELOW 5290 THEN LIKELY TO COME DOWN TO 5275 AND BREAK BELOW THIS LEVEL WOULD BE 5245 LEVELS AND ANY FURTHER WEAKNESS WOULD DRIFT DOWN NIFTY TO 5205 WHICH IS KEY ZONE FOR NIFTY TO HOLD IN THE NEAR TERM ANY BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO MUCH LOWER. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5315 LIKELY TO GO UP TO 5342 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5370 LEVELS AND CLOSE ABOVE 5342 WOULD TAKE NIFTY TO NEW HIGHS OF THE YEAR. TODAY WE MAY SEE LOT OF ACTIVITY AND VOLATILITY IN TELECOM SHARE AHEAD OF 3G AUCTION TODAY.
POSITIVE STOCKS: VOLTAS, PHOENIX MILLS, KSK ENERGY, BPCL, VIPIND, SOBHA, VENKEYS, CARBORUNIV, IGL, TATA COFFEE.
WEAK STOCKS: CAIRN, HINDOILEXP, ONGC
BUY ESSAROIL SL 148.5 TGT 153/155/159
BUY SESAGOA SL 484 TGT 494/497/500
BUY JAICORPLTD SL 278 TGT 289/294/299
BUY STER SL 859 TGT 872/876/880
BUY RIIL SL 887 TGT 917/930/954
BUY MPHASIS SL 646 TGT 658/665/672
BUY DABUR SL 169 TGT 172/173.75/175.4
POSITIONAL TRADES
BUY SHREE PRECOATED STEELS LTD CMP 17 TGT 27/54/67
