GOOD MORNING!!!
WE HAVE WITNESSED A PHASE OF CONSOLIDATION AFTER FIVE CONSECUTIVE GAINING DAYS IN THE INDIAN EQUITY MARKETS. INDICIES WERE IN A NARROW RANGE THROUGHOUT THE DAY AFTER A STRONG RESISTANCE AND CLOSED MARGINALLY IN THE RED AT THE END OF THE DAY. WITH MOST OF THE ASIAN MARKETS ALONG WITH EUROPEAN MARKETS TRADING IN RED MARKETS HAVE SUCCUMBED TO LOT OF PRESSURE ON THE SECOND HALF OF THE MARKET.
TODAY MARKETS WOULD BLEED IN THE OPENING AND WOULD THEN RECOVER TO SOME EXTENT IN THE FORM OF RETRACEMENT AND MARKET STILL LOOKING STRONG AND HAS NOT COME INTO NEGATIVE ZONES SO WOULD ADVISE ALL THE INVESTORS AND TRADERS TO BE CAUTIOUS AND ESPECIALLY TRADERS ON INTRADAY PERSPECTIVE ARE ADVISED TO FOLLOW THE LEVELS METIONED BELOW. IF NIFTY TRADES BELOW 5255 LIKLEY TO DIP DOWN TO 5223 LEVELS AND IT WOULD TAKE SUPPORT AT THIS LEVEL AND THEN RETRACE, IF NIFTY DOESN’T TAKE SUPPORT AT 5223 THEN LIKELY TO DRIFT DOWN 5202 AND THEN TO 5166. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5320 ONE CAN INITIATE BUY. ONE CAN TAKE LONG POSITIONS ON THE DECLINE IN OPENING MARKET WITH STRICT STOPLOSS.
NOTE: * MARKED AT THE END OF RECO CAN BE BOUGHT WHEN MARKET SLIDES INITIALLY AS THESE STOCKS WOULD PULL BACK IMMEDIATELY.
SELL ICICI BANK SL 952 TGT 931/925/916
BUY GSPL SL 92 TGT 99/104/104*
BUY POWER GRID SL 109 TGT 116/117/118*
BUY BATA INDIA SL 263 TGT 286/298/310*
BUY ABG SHIPPYARD SL 253 TGT273/278/284*
WE HAVE WITNESSED A PHASE OF CONSOLIDATION AFTER FIVE CONSECUTIVE GAINING DAYS IN THE INDIAN EQUITY MARKETS. INDICIES WERE IN A NARROW RANGE THROUGHOUT THE DAY AFTER A STRONG RESISTANCE AND CLOSED MARGINALLY IN THE RED AT THE END OF THE DAY. WITH MOST OF THE ASIAN MARKETS ALONG WITH EUROPEAN MARKETS TRADING IN RED MARKETS HAVE SUCCUMBED TO LOT OF PRESSURE ON THE SECOND HALF OF THE MARKET.
TODAY MARKETS WOULD BLEED IN THE OPENING AND WOULD THEN RECOVER TO SOME EXTENT IN THE FORM OF RETRACEMENT AND MARKET STILL LOOKING STRONG AND HAS NOT COME INTO NEGATIVE ZONES SO WOULD ADVISE ALL THE INVESTORS AND TRADERS TO BE CAUTIOUS AND ESPECIALLY TRADERS ON INTRADAY PERSPECTIVE ARE ADVISED TO FOLLOW THE LEVELS METIONED BELOW. IF NIFTY TRADES BELOW 5255 LIKLEY TO DIP DOWN TO 5223 LEVELS AND IT WOULD TAKE SUPPORT AT THIS LEVEL AND THEN RETRACE, IF NIFTY DOESN’T TAKE SUPPORT AT 5223 THEN LIKELY TO DRIFT DOWN 5202 AND THEN TO 5166. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5320 ONE CAN INITIATE BUY. ONE CAN TAKE LONG POSITIONS ON THE DECLINE IN OPENING MARKET WITH STRICT STOPLOSS.
NOTE: * MARKED AT THE END OF RECO CAN BE BOUGHT WHEN MARKET SLIDES INITIALLY AS THESE STOCKS WOULD PULL BACK IMMEDIATELY.
SELL ICICI BANK SL 952 TGT 931/925/916
BUY GSPL SL 92 TGT 99/104/104*
BUY POWER GRID SL 109 TGT 116/117/118*
BUY BATA INDIA SL 263 TGT 286/298/310*
BUY ABG SHIPPYARD SL 253 TGT273/278/284*
