GOOD MORNING!!!
INDICES ENDED CHOPPY AND HALTED A TWO DAY RALLY. WEAK GLOBAL STOCKS WEIGHED ON INVESTORS' SENTIMENT. THE MARKET BREADTH WAS WEAK. HIGH BETA INFRASTRUCTURE STOCKS DECLINED ON SELLING PRESSURE. METAL STOCKS DECLINED AS COPPER PRICES FELL ON CONCERN MONETARY TIGHTENING IN CHINA WILL CRIMP DEMAND FOR THE METAL. BUT, IT PIVOTALS WERE OFF DAY'S LOW ON BARGAIN HUNTING AFTER AN INITIAL SETBACK TRIGGERED BY FALL IN ADRS ON FRIDAY. AUTO SHARES SURVIVED THE BROAD MARKET DECLINE ON ROBUST SALES IN APRIL 2010. INTEREST RATE SENSITIVE BANKING AND FINANCIAL SHARES DECLINED ON FEARS THE RESERVE BANK OF INDIA MAY RESORT TO FURTHER MONETARY TIGHTENING TO COUNTER SOARING INFLATION. STOCKS WERE VERY VOLATILE. THE MARKET CAME OFF THE LOWER LEVEL AFTER AN INITIAL SHARP SLIDE TRIGGERED BY WEAK ASIAN STOCKS.
TODAY MARKET LOOKS POSITIVE ON GLOBAL RECOVERY. IF NIFTY TRADES 5226 THEN LIKELY TO MAKE AN UPMOVE TILL 5260 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5290 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5320 LEVELS AND ONE CAN INITIATE LONGS IF NIFTY TRADES CLOSES ABOVE 5300 LEVEL. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5200 LEVELS ONE CAN SEE NIFTY TO DECLINE TO 5160 AND ANY FURTHER TRADE BELOW 5160 WOULD TAKE NIFTY TO FURTHER DOWNSIDE AND BEARS WILL ATTACK AND WILL HAVE AN UPPER HAND OVER BULLS IN THE NEAR TERM AND ONE CAN CONSIDER THIS 5160 LEVELS TO BE A GOOD SUPPORT FOR NIFTY IN NEAR TERM. ONE CAN INITIATE SHORT IF NIFTY BREACHES 5160 LEVELS.
BUY PIRAMAL HEALTH SL 544 TGT 555/559/564
BUY JB CHEMICAL SL 89 TGT 95/96/98
BUY RANBAXY SL 448.5 TGT 454/457/460
BUY EDUCOMP SL 688 TGT 700/706/714
BUY RPOWER SL 157 TGT 164/165/166
BUY SRF SL 223.2 TGT 228/230/234
BUY JSW HOLDINGS SL 1940 TGT 1990/2010/2030
INDICES ENDED CHOPPY AND HALTED A TWO DAY RALLY. WEAK GLOBAL STOCKS WEIGHED ON INVESTORS' SENTIMENT. THE MARKET BREADTH WAS WEAK. HIGH BETA INFRASTRUCTURE STOCKS DECLINED ON SELLING PRESSURE. METAL STOCKS DECLINED AS COPPER PRICES FELL ON CONCERN MONETARY TIGHTENING IN CHINA WILL CRIMP DEMAND FOR THE METAL. BUT, IT PIVOTALS WERE OFF DAY'S LOW ON BARGAIN HUNTING AFTER AN INITIAL SETBACK TRIGGERED BY FALL IN ADRS ON FRIDAY. AUTO SHARES SURVIVED THE BROAD MARKET DECLINE ON ROBUST SALES IN APRIL 2010. INTEREST RATE SENSITIVE BANKING AND FINANCIAL SHARES DECLINED ON FEARS THE RESERVE BANK OF INDIA MAY RESORT TO FURTHER MONETARY TIGHTENING TO COUNTER SOARING INFLATION. STOCKS WERE VERY VOLATILE. THE MARKET CAME OFF THE LOWER LEVEL AFTER AN INITIAL SHARP SLIDE TRIGGERED BY WEAK ASIAN STOCKS.
TODAY MARKET LOOKS POSITIVE ON GLOBAL RECOVERY. IF NIFTY TRADES 5226 THEN LIKELY TO MAKE AN UPMOVE TILL 5260 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5290 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5320 LEVELS AND ONE CAN INITIATE LONGS IF NIFTY TRADES CLOSES ABOVE 5300 LEVEL. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5200 LEVELS ONE CAN SEE NIFTY TO DECLINE TO 5160 AND ANY FURTHER TRADE BELOW 5160 WOULD TAKE NIFTY TO FURTHER DOWNSIDE AND BEARS WILL ATTACK AND WILL HAVE AN UPPER HAND OVER BULLS IN THE NEAR TERM AND ONE CAN CONSIDER THIS 5160 LEVELS TO BE A GOOD SUPPORT FOR NIFTY IN NEAR TERM. ONE CAN INITIATE SHORT IF NIFTY BREACHES 5160 LEVELS.
BUY PIRAMAL HEALTH SL 544 TGT 555/559/564
BUY JB CHEMICAL SL 89 TGT 95/96/98
BUY RANBAXY SL 448.5 TGT 454/457/460
BUY EDUCOMP SL 688 TGT 700/706/714
BUY RPOWER SL 157 TGT 164/165/166
BUY SRF SL 223.2 TGT 228/230/234
BUY JSW HOLDINGS SL 1940 TGT 1990/2010/2030
