GOOD MORNING!!!
INDICES EXTENDED LOSSES FOR THE SECOND STRAIGHT DAY AS WORLD STOCKS TUMBLED AS RATING DOWNGRADES ON GREECE AND PORTUGAL. METAL AND REALTY STOCKS LED THE DECLINE. ALL THE SECTORAL INDICES ON WERE IN THE RED. STOCKS WERE VOLATILE AS TRADERS ROLLED OVER POSITIONS IN THE DERIVATIVES SEGMENT TO THE NEXT MONTH AHEAD OF THE EXPIRY. THE Q4 MARCH 2010 CORPORATE EARNINGS ANNOUNCED SO FAR HAVE BEEN GOOD. THE COMBINED NET PROFIT OF A TOTAL OF 372 COMPANIES ROSE 27.6% TO RS 28545 CRORE ON 37.5% RISE IN SALES TO RS 241872 CRORE IN THE QUARTER ENDED MARCH 2010 OVER THE QUARTER ENDED MARCH 2009. THE MARKET BREADTH, INDICATING THE OVERALL HEALTH OF THE MARKET, WAS EXTREMELY WEAK.
TODAY MARKET LOOKS VERY VOLATILE AND WE MAY SEE STOCK SPECIFIC ACTIVITY AHEAD OF EXPIRY STAY VERY CAUTIOUS. IF NIFTY TRADES ABOVE 5226 THEN LIKELY TO MAKE AN UP MOVE UPTO 5255 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5270 LEVELS TRADE ABOVE THIS POINT WOULD TAKE NIFTY TO 5300 LEVELS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5206 THEN LIKELY TO DIP DOWN TO 5176 AND BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 5100 ANY BREAK BELOW 5100 IS CONSIDERED TO BE VERY WEAK AND WOULD DECLINE FURTHER AS BEARS WILL COMPLETELY CAPITAVE THE MARKET.
BUY ITC SL 268 TGT 272/274/276
BUY PIRHEALTH SL 519 TGT 532/535/538
BUY SBIN SL 2219 TGT 2242/2258/2271
BUY BANKBARODA SL 684 TGT 690/694/699
BUY CUMMINSIND SL 527 TGT 548/559/563
INDICES EXTENDED LOSSES FOR THE SECOND STRAIGHT DAY AS WORLD STOCKS TUMBLED AS RATING DOWNGRADES ON GREECE AND PORTUGAL. METAL AND REALTY STOCKS LED THE DECLINE. ALL THE SECTORAL INDICES ON WERE IN THE RED. STOCKS WERE VOLATILE AS TRADERS ROLLED OVER POSITIONS IN THE DERIVATIVES SEGMENT TO THE NEXT MONTH AHEAD OF THE EXPIRY. THE Q4 MARCH 2010 CORPORATE EARNINGS ANNOUNCED SO FAR HAVE BEEN GOOD. THE COMBINED NET PROFIT OF A TOTAL OF 372 COMPANIES ROSE 27.6% TO RS 28545 CRORE ON 37.5% RISE IN SALES TO RS 241872 CRORE IN THE QUARTER ENDED MARCH 2010 OVER THE QUARTER ENDED MARCH 2009. THE MARKET BREADTH, INDICATING THE OVERALL HEALTH OF THE MARKET, WAS EXTREMELY WEAK.
TODAY MARKET LOOKS VERY VOLATILE AND WE MAY SEE STOCK SPECIFIC ACTIVITY AHEAD OF EXPIRY STAY VERY CAUTIOUS. IF NIFTY TRADES ABOVE 5226 THEN LIKELY TO MAKE AN UP MOVE UPTO 5255 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5270 LEVELS TRADE ABOVE THIS POINT WOULD TAKE NIFTY TO 5300 LEVELS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5206 THEN LIKELY TO DIP DOWN TO 5176 AND BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 5100 ANY BREAK BELOW 5100 IS CONSIDERED TO BE VERY WEAK AND WOULD DECLINE FURTHER AS BEARS WILL COMPLETELY CAPITAVE THE MARKET.
BUY ITC SL 268 TGT 272/274/276
BUY PIRHEALTH SL 519 TGT 532/535/538
BUY SBIN SL 2219 TGT 2242/2258/2271
BUY BANKBARODA SL 684 TGT 690/694/699
BUY CUMMINSIND SL 527 TGT 548/559/563
NOTE: IF THE ABOVE RECOMMENDED STOCKS HITS THE STOPLOSS EXIT AND ABOVE STOPLOSS PRICE ONE CAN RE-ENTER WITH SAME STOPLOSS
