GOOD MORNING!!!
STRONG SLIDE IN THE MARKET HITTING FRESH INTRADAY LOWS ON PROFIT TAKING AFTER A FEW MONTHS RALLY. INITIALLY MARKET HAD A VERY GOOD AND STRONG OPENING BUT COULD NOT SUSTAIN FOR MUCH LONGER. MARKET UNTIL MID AFTERNOON WAS VERY RANGE BOUND BUT HAS ENDED IN RED ON PROFIT BOOKING THOUGH CAPITAL GOODS, FMCG STOCKS HAVE DECLINED ALONG WITH BANKING. ON THE MACRO FRONT, INFLATION DATA ROSE LESS THAN EXPECTED, IT WAS JUST HIGHER BY .01% FROM PREVIOUS MONTH. IT WAS 9.89% IN FEBRUARY AND IT IS 9.9% IN MARCH 2010 AS PER THE LATEST DATA. OVERALL HEALTH OF THE MARKET REMAINED STRONG.
TODAY MARKET WOULD OPEN NEGATIVE AND NIFTY LIKELY TO TEST 5245 LEVELS AND BREAK BELOW THIS POINT WOULD DRAG NIFTY TO 5205 WHICH IS A KEY SUPPORT ANY BREAK BELOW THIS POINT WOULD MAKE NIFTY MUCH WEAKER AND CAN TOUCH 5205 LEVELS BUT IF NIFTY BREAKS 5200 AND CLOSES THEN LIKELY TO NOSE DIVE TO 5131 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5292 THEN LIKELY TO MOVE UP TO 5318 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5348 LEVELS ANY POSITIVE TRADING ABOVE 5348 WOULD TAKE NIFTY TO 5414. WE MAY SEE A VERY STOCK SPECIFIC ACTIVITY IN COMING DAYS ON ACCOUNT OF Q4 RESULT.
BUY DIVISLABS SL 715 TGT 725/731/741
BUY SARDA ENERGY AND MIN LTD SL 254.5 TGT 260.4/278/284
BUY NIITTECH SL 180 TGT 183.8/186/190 S
BUY TAJGVK SL 165.5 TGT 170/173/175
BUY DABUR SL 178 TGT 180/181/182.75
BUY ROLTA ABOVE 190 SL 187 TGT 193/196/198
BUY CENTURY TEXTILES ABOVE 541 SL 535 TGT 547/552/560
STRONG SLIDE IN THE MARKET HITTING FRESH INTRADAY LOWS ON PROFIT TAKING AFTER A FEW MONTHS RALLY. INITIALLY MARKET HAD A VERY GOOD AND STRONG OPENING BUT COULD NOT SUSTAIN FOR MUCH LONGER. MARKET UNTIL MID AFTERNOON WAS VERY RANGE BOUND BUT HAS ENDED IN RED ON PROFIT BOOKING THOUGH CAPITAL GOODS, FMCG STOCKS HAVE DECLINED ALONG WITH BANKING. ON THE MACRO FRONT, INFLATION DATA ROSE LESS THAN EXPECTED, IT WAS JUST HIGHER BY .01% FROM PREVIOUS MONTH. IT WAS 9.89% IN FEBRUARY AND IT IS 9.9% IN MARCH 2010 AS PER THE LATEST DATA. OVERALL HEALTH OF THE MARKET REMAINED STRONG.
TODAY MARKET WOULD OPEN NEGATIVE AND NIFTY LIKELY TO TEST 5245 LEVELS AND BREAK BELOW THIS POINT WOULD DRAG NIFTY TO 5205 WHICH IS A KEY SUPPORT ANY BREAK BELOW THIS POINT WOULD MAKE NIFTY MUCH WEAKER AND CAN TOUCH 5205 LEVELS BUT IF NIFTY BREAKS 5200 AND CLOSES THEN LIKELY TO NOSE DIVE TO 5131 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5292 THEN LIKELY TO MOVE UP TO 5318 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5348 LEVELS ANY POSITIVE TRADING ABOVE 5348 WOULD TAKE NIFTY TO 5414. WE MAY SEE A VERY STOCK SPECIFIC ACTIVITY IN COMING DAYS ON ACCOUNT OF Q4 RESULT.
BUY DIVISLABS SL 715 TGT 725/731/741
BUY SARDA ENERGY AND MIN LTD SL 254.5 TGT 260.4/278/284
BUY NIITTECH SL 180 TGT 183.8/186/190 S
BUY TAJGVK SL 165.5 TGT 170/173/175
BUY DABUR SL 178 TGT 180/181/182.75
BUY ROLTA ABOVE 190 SL 187 TGT 193/196/198
BUY CENTURY TEXTILES ABOVE 541 SL 535 TGT 547/552/560
