GOOD MORNING!!!
KEY INDICES PARED GAINS IN LATE TRADE AS EUROPEAN STOCKS DECLINED IN VOLATILE TRADE ON UNEASE OVER EURO ZONE SOVEREIGN DEBT LEVELS. THE LOK SABHA ON THURSDAY PASSED THE FINANCE BILL 2010 WITH SOME MINOR CHANGES IN TAX PROPOSALS. THE GOVERNMENT HAS PLEDGED TO CUT THE FISCAL DEFICIT, PROMISED INCREASE SPENDING ON INFRASTRUCTURE AND ANNOUNCED CHANGES IN PERSONAL INCOME TAX SLABS FOR INDIVIDUALS IN THE UNION BUDGET 2010-2011. IN THE FUTURES & OPTIONS SEGMENT, A GOOD AMOUNT OF ROLLOVER OF POSITIONS WAS WITNESSED FROM APRIL TO MAY. THE MARKET BREADTH WAS STRONG. EXCEPT THE METAL INDEX, ALL OTHER SECTORAL INDICES ON THE BSE WERE IN GREEN. METAL STOCKS DECLINED, MIRRORING FALL IN THE COMMODITY PRICES ON THE LONDON METAL EXCHANGE ON 29 APRIL 2010. IT PIVOTALS SAW DIVERGENT TREND. MOST AUTO STOCKS ADVANCED AHEAD OF THE RELEASE OF APRIL 2010 MONTHLY SALES DATA NEXT WEEK. THE MARKET SURGED IN EARLY TRADE ON POSITIVE GLOBAL CUES. IT EXTENDED GAINS IN MORNING TRADE. THE MARKET PARED GAINS IN MID-MORNING TRADE ON PROFIT BOOKING IN SELECT PIVOTALS. THE MARKET REGAINED STRENGTH IN EARLY AFTERNOON TRADE. THE MARKET ONCE AGAIN PARED GAINS IN AFTERNOON TRADE. THE MARKET HELD POSITIVE ZONE IN MID-AFTERNOON TRADE, TRACKING GAINS IN EUROPEAN STOCKS. PROFIT BOOKING IN LATE TRADE AS EUROPEAN MARKETS DECLINED IN VOLATILE TRADE
TODAY NIFTY MAY OPEN NEGATIVE AND IF NIFTY TRADES BELOW 5255 THEN IT IS LIKELY TO COME DOWN TO 5226 AND BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 5200 AND IF NIFTY SUSTAINS BELOW 5192 LEVEL THEN LIKELY TO TAKE SUPPORT AT 5160 AND ANY BREACH BELOW 5150 BEARS WOULD CAPTIVATE THE MARKET WHICH IS STILL HAZY AS OF NOW AS BULLS HAVE AN UPPER HAND IN THE MARKET. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5286 THEN LIKELY TO MAKE AN UPMOVE TO 5340 LEVELS AND ANY CLOSE ABOVE 5300 IS CONSIDERED TO BE BULLISH AND WE MAY SEE FURTHER UPMOVE FROM HERE ON. AND AS OF NOW THERE IS NO NEGATIVE SIGNS SEEN IN INDIAN MARKETS EXCEPT FOR THE REFLECTION OF GLOBAL CUES. WHEN NIFTY SLIDES THEN ONE CAN TAKE LONGS WITH SUPPORT LEVELS AS STOPLOSS AND IF THE SUPPORT BREAKS THEN TAKE POSITION AT LOWER LEVELS WITH THE NEXT SUPPORT. PETROLEUM STOCKS LOOKS GOOD.
BUY UNIPHOS SL 167 TGT 172/175/179
BUY ACC SL 899 TGT 910/918/928
BUY INDIABULLS SL 153 TGT 159/163/167
BUY FORTIS SL 169 TGT 174/177/179
POSITIONAL TRADES
BUY MUJAL SHOWA TGT 68/75
BUY GLENMARK TGT 283/300/340
BUY INDOWIND ENERGY 60/68
KEY INDICES PARED GAINS IN LATE TRADE AS EUROPEAN STOCKS DECLINED IN VOLATILE TRADE ON UNEASE OVER EURO ZONE SOVEREIGN DEBT LEVELS. THE LOK SABHA ON THURSDAY PASSED THE FINANCE BILL 2010 WITH SOME MINOR CHANGES IN TAX PROPOSALS. THE GOVERNMENT HAS PLEDGED TO CUT THE FISCAL DEFICIT, PROMISED INCREASE SPENDING ON INFRASTRUCTURE AND ANNOUNCED CHANGES IN PERSONAL INCOME TAX SLABS FOR INDIVIDUALS IN THE UNION BUDGET 2010-2011. IN THE FUTURES & OPTIONS SEGMENT, A GOOD AMOUNT OF ROLLOVER OF POSITIONS WAS WITNESSED FROM APRIL TO MAY. THE MARKET BREADTH WAS STRONG. EXCEPT THE METAL INDEX, ALL OTHER SECTORAL INDICES ON THE BSE WERE IN GREEN. METAL STOCKS DECLINED, MIRRORING FALL IN THE COMMODITY PRICES ON THE LONDON METAL EXCHANGE ON 29 APRIL 2010. IT PIVOTALS SAW DIVERGENT TREND. MOST AUTO STOCKS ADVANCED AHEAD OF THE RELEASE OF APRIL 2010 MONTHLY SALES DATA NEXT WEEK. THE MARKET SURGED IN EARLY TRADE ON POSITIVE GLOBAL CUES. IT EXTENDED GAINS IN MORNING TRADE. THE MARKET PARED GAINS IN MID-MORNING TRADE ON PROFIT BOOKING IN SELECT PIVOTALS. THE MARKET REGAINED STRENGTH IN EARLY AFTERNOON TRADE. THE MARKET ONCE AGAIN PARED GAINS IN AFTERNOON TRADE. THE MARKET HELD POSITIVE ZONE IN MID-AFTERNOON TRADE, TRACKING GAINS IN EUROPEAN STOCKS. PROFIT BOOKING IN LATE TRADE AS EUROPEAN MARKETS DECLINED IN VOLATILE TRADE
TODAY NIFTY MAY OPEN NEGATIVE AND IF NIFTY TRADES BELOW 5255 THEN IT IS LIKELY TO COME DOWN TO 5226 AND BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 5200 AND IF NIFTY SUSTAINS BELOW 5192 LEVEL THEN LIKELY TO TAKE SUPPORT AT 5160 AND ANY BREACH BELOW 5150 BEARS WOULD CAPTIVATE THE MARKET WHICH IS STILL HAZY AS OF NOW AS BULLS HAVE AN UPPER HAND IN THE MARKET. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5286 THEN LIKELY TO MAKE AN UPMOVE TO 5340 LEVELS AND ANY CLOSE ABOVE 5300 IS CONSIDERED TO BE BULLISH AND WE MAY SEE FURTHER UPMOVE FROM HERE ON. AND AS OF NOW THERE IS NO NEGATIVE SIGNS SEEN IN INDIAN MARKETS EXCEPT FOR THE REFLECTION OF GLOBAL CUES. WHEN NIFTY SLIDES THEN ONE CAN TAKE LONGS WITH SUPPORT LEVELS AS STOPLOSS AND IF THE SUPPORT BREAKS THEN TAKE POSITION AT LOWER LEVELS WITH THE NEXT SUPPORT. PETROLEUM STOCKS LOOKS GOOD.
BUY UNIPHOS SL 167 TGT 172/175/179
BUY ACC SL 899 TGT 910/918/928
BUY INDIABULLS SL 153 TGT 159/163/167
BUY FORTIS SL 169 TGT 174/177/179
POSITIONAL TRADES
BUY MUJAL SHOWA TGT 68/75
BUY GLENMARK TGT 283/300/340
BUY INDOWIND ENERGY 60/68
