GOOD MORNING!!!
BATTLE BETWEEN TWO REGULATORS IRDA AND SEBI ON OVERSIGHT OF UNIT LINKED INSURANCE PRODUCTS OR ULIPS WEIGHED ON THE INDICES IN A VERY VOLATILE SESSION THOUGH FINANCE MINISTER MR. PRANAB MUKHERJEE AFTER MARKET HOURS QUOTED AS SAYING IN THE ELECTRONIC MEDIA THE STATUS QUO ON ULIPS WILL CONTINUE. AUTO, CAPITAL GOODS AND BANKING STOCKS LED THE FALL BUT MARKET BREADTH DIDN’T TURN WEAK. INITIALLY MARKET OPENED GAP DOWN AND SOON RECOVERED BOUNCING BACK BUT COULD NOT SUSTAIN THE INITIAL GAINS AND SLID DOWN TO RED, FURTHER WEAKEND BY SURPASSING INTRADAY LOWS OF MORNING SESSION. IIP DATA WHICH WAS RELEASED IN THE AFTERNOON PROVED TO BE SUBTLE AS THE NUMBERS WERE LOWER THAN EXPECTED 15.1% IN FEBRUARY AND ALSO LOWER THAN 16.7% RISE IN JANUARY, PRODUCTION OF CAPITAL GOODS ROSE 44.4%, WHILE CONSUMER DURABLE GOODS OUTPUT GREW BY AN ANNUAL 29.9%.
TODAY MARKETS LOOK FLAT, TODAY IF NIFTY TRADES ABOVE 5364 LIKELY TO GO UP TO 5410 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5442 AND ANY TRADE ABOVE THIS POINT WOULD TAKE NIFTY TO 5470 LEVELS AND CLOSE ABOVE 5421 WOULD TAKE NIFTY TO NEW HIGHS OF THE YEAR. IF TRADES BELOW 5322 THEN LIKELY TO COME DOWN TO 5285 AND BREAK BELOW THIS LEVEL WOULD BRING DOWN NIFTY TO 5254 LEVELS AND ANY FURTHER WEAKNESS WOULD DRIFT DOWN NIFTY TO 5202.
BUY TV18 SL 79.9 TGT 87/88/89
BUY UNITECH SL 77.40 TGT 79/80/81
BUY JAI CORP SL 284 TGT 299/306/311
BATTLE BETWEEN TWO REGULATORS IRDA AND SEBI ON OVERSIGHT OF UNIT LINKED INSURANCE PRODUCTS OR ULIPS WEIGHED ON THE INDICES IN A VERY VOLATILE SESSION THOUGH FINANCE MINISTER MR. PRANAB MUKHERJEE AFTER MARKET HOURS QUOTED AS SAYING IN THE ELECTRONIC MEDIA THE STATUS QUO ON ULIPS WILL CONTINUE. AUTO, CAPITAL GOODS AND BANKING STOCKS LED THE FALL BUT MARKET BREADTH DIDN’T TURN WEAK. INITIALLY MARKET OPENED GAP DOWN AND SOON RECOVERED BOUNCING BACK BUT COULD NOT SUSTAIN THE INITIAL GAINS AND SLID DOWN TO RED, FURTHER WEAKEND BY SURPASSING INTRADAY LOWS OF MORNING SESSION. IIP DATA WHICH WAS RELEASED IN THE AFTERNOON PROVED TO BE SUBTLE AS THE NUMBERS WERE LOWER THAN EXPECTED 15.1% IN FEBRUARY AND ALSO LOWER THAN 16.7% RISE IN JANUARY, PRODUCTION OF CAPITAL GOODS ROSE 44.4%, WHILE CONSUMER DURABLE GOODS OUTPUT GREW BY AN ANNUAL 29.9%.
TODAY MARKETS LOOK FLAT, TODAY IF NIFTY TRADES ABOVE 5364 LIKELY TO GO UP TO 5410 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5442 AND ANY TRADE ABOVE THIS POINT WOULD TAKE NIFTY TO 5470 LEVELS AND CLOSE ABOVE 5421 WOULD TAKE NIFTY TO NEW HIGHS OF THE YEAR. IF TRADES BELOW 5322 THEN LIKELY TO COME DOWN TO 5285 AND BREAK BELOW THIS LEVEL WOULD BRING DOWN NIFTY TO 5254 LEVELS AND ANY FURTHER WEAKNESS WOULD DRIFT DOWN NIFTY TO 5202.
BUY TV18 SL 79.9 TGT 87/88/89
BUY UNITECH SL 77.40 TGT 79/80/81
BUY JAI CORP SL 284 TGT 299/306/311
