GOOD MORNING!!!
MARKETS HAVE BEEN IN A NARROW RANGE AND HELD ON THE POSITIVE NOTE ALMOST DURING THE ENTIRE DAY, THERE WAS MODEST BOUNCE BACK. IT WAS REALLY VERY TOUGH RESISTANCE FOR NIFTY TO CROSS 5255 LEVELS AS IT ATTEMPTED AROUND THREE TIMES BUT COULDN’T MAKE IT. THE GOOD US CUES ON FED'S STATEMENT ON SIGNS OF STRENGTH IN THE ECONOMY AND SIGN OF RECOVERY IN THE ASIAN PACK HAS LED THE DOMESTIC INDICES TO CARRY UP THEIR GAINS AS THE DAY ADVANCES, THE MARKET WAS VOLATILE AS TRADERS ROLLED OVER THEIR POSITIONS IN THE DERIVATIVE SEGMENTS FROM APIRL TO MAY SERIES AHEAD OF THE END OF THE APRIL CONTRACTS. BREADTH OF THE MARKET WAS STRONG.
TODAY MARKETS KICK STARTS ITS DAY WITH THE NEW CONTRACT FOR THIS MONTH. NIFTY MAY OPEN GAP UP ON GLOBAL RECOVERY AND MAY TRADE ABOVE 5270 ABOVE THIS POINT MARKETS WOULD TAKE NIFTY TO 5300 LEVELS AND ABOVE THIS LEVEL NIFTY WILL FACE A TOUGH RESISTANCE AT 5344 LEVELS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5225 THEN LIKELY TO MAKE A JOURNEY TOWARDS 5198 LEVELS AND TRADE BELOW THIS LEVEL WOULD TAKE IT TO 5160 LEVELS AND FURTHER WEAKNESS WOULD DRIVE MARKETS MUCH DOWNSIDE AND BEARS WOULD CAPTIVATE MARKETS BELOW 5150 LEVELS.
BUY YESBANK SL 291.9 TGT 298/303/306
BUY CAIRN SL 306 TGT 311.5/313.6/316
BUY NAGARCONST SL 187.4 TGT 191.6/194.3/199
BUY LICHSG SL 941 TGT 955/966/984
BUY JETAIRWAYS SL 525 TGT 540/550/566
BUY UFLEX SL 113.4 TGT 119/122/128
POSITIONAL TRADES
BUY JB CHEMICAL AND PHARMA TGT 100/120/140
