GOOD MORNING!!!
ALL THE INDICIES WITNESSED A SELL OFF AS THE GLOBAL WORRIES CONTINUED MAKING THE SENTIMENT OF THE INVESTORS ON THE NEGATIVE SIDE. THE SLUMP IN THE MARKETS WAS LED BY ACROSS THE BOARD SELLING FROM MARKET PARTICIPANTS. METAL, REALTY AND CAPITAL GOODS STOCKS WHICH WAS COMPLETELY TAKEN OVER BY THE BEARS DURING THE SESSION. MARKETS STARTED THE DAY ON A FLAT NOTE DESPITE STRONG RALLY ON THE WALL STREET IN OVERNIGHT TRADE UNDERPINNED BY STRONG ECONOMIC DATA. INITIALLY THE MARKETS MANAGED TO TRADE WITH MINOR GAINS DURING THE FIRST HALF OF THE SESSION AND THEN TURNED TO NEGATIVE TERRAIN IN THE EARLY AFTERNOON TRADES TRACKING DOWN-TICK ON THE US INDEX FUTURES AND MUTED START FOR THE EUROPEAN SHARES. CONCERNS OVER WOES OF THE EURO ZONE ALSO PLAYED SPOILSPORT FOR THE DALAL STREET IN THE SECOND HALF OF THE SESSION. THE SELLING GOT INTENSIFIED IN LATE TRADES WHICH DRAGGED THE NIFTY BELOW THE CRUCIAL SUPPORT LEVEL OF 5150. THE BREADTH OF THE MARKET TURNED VERY WEAK.
TODAY MARKETS WOULD OPEN GAP DOWN AND WOULD REMAIN IN A NARROW RANGE BOUND WE SEE TODAY BEARS WOULD CAPTIVATE THE MARKETS ON EVERY RISE AND NIFTY TO TAKE SUPPORT AT 5050 LEVELS WHICH IS VERY CRUCIAL IF THIS LEVEL IS BREACHED THEN NIFTY COULD COME DOWN TO 4940 LEVELS WHICH IS CONSIDERED TO BE THE VERY VERY CRUCIAL LONG TERM SUPPORT FOR NIFTY. ON THE POSITIVE SIDE TODAY NIFTY CHANCES OF ANY POSITIVENESS IS REMOTE BUT ONE CAN INITIATE LONG POSITIONS AT THE FOLLOWING PLACES WITH STRICT STOPLOSS, TAKE NIFTY AROUND 5060 TO 5070 LEVELS WITH STRICT STOPLOSS OF 5050 AND ONCE THIS IS BREACHED AGAIN TAKE A POSITION AT 5010 TO 5020 LEVELS WITH STRICT STOPLOSS OF 5000.
NOTE: THERE IS EVERY CHANCE OF RECOVERY IN THE SECOND HALF SO BE CAREFUL IN THE MARKET.
SELL JSPL SL 923 TGT 696/678/665
SELL HINDALCO SL 165 TGT 158/155/152
SELL JSWSTEEL SL 1156 TGT 1125/1116/1105
ALL THE INDICIES WITNESSED A SELL OFF AS THE GLOBAL WORRIES CONTINUED MAKING THE SENTIMENT OF THE INVESTORS ON THE NEGATIVE SIDE. THE SLUMP IN THE MARKETS WAS LED BY ACROSS THE BOARD SELLING FROM MARKET PARTICIPANTS. METAL, REALTY AND CAPITAL GOODS STOCKS WHICH WAS COMPLETELY TAKEN OVER BY THE BEARS DURING THE SESSION. MARKETS STARTED THE DAY ON A FLAT NOTE DESPITE STRONG RALLY ON THE WALL STREET IN OVERNIGHT TRADE UNDERPINNED BY STRONG ECONOMIC DATA. INITIALLY THE MARKETS MANAGED TO TRADE WITH MINOR GAINS DURING THE FIRST HALF OF THE SESSION AND THEN TURNED TO NEGATIVE TERRAIN IN THE EARLY AFTERNOON TRADES TRACKING DOWN-TICK ON THE US INDEX FUTURES AND MUTED START FOR THE EUROPEAN SHARES. CONCERNS OVER WOES OF THE EURO ZONE ALSO PLAYED SPOILSPORT FOR THE DALAL STREET IN THE SECOND HALF OF THE SESSION. THE SELLING GOT INTENSIFIED IN LATE TRADES WHICH DRAGGED THE NIFTY BELOW THE CRUCIAL SUPPORT LEVEL OF 5150. THE BREADTH OF THE MARKET TURNED VERY WEAK.
TODAY MARKETS WOULD OPEN GAP DOWN AND WOULD REMAIN IN A NARROW RANGE BOUND WE SEE TODAY BEARS WOULD CAPTIVATE THE MARKETS ON EVERY RISE AND NIFTY TO TAKE SUPPORT AT 5050 LEVELS WHICH IS VERY CRUCIAL IF THIS LEVEL IS BREACHED THEN NIFTY COULD COME DOWN TO 4940 LEVELS WHICH IS CONSIDERED TO BE THE VERY VERY CRUCIAL LONG TERM SUPPORT FOR NIFTY. ON THE POSITIVE SIDE TODAY NIFTY CHANCES OF ANY POSITIVENESS IS REMOTE BUT ONE CAN INITIATE LONG POSITIONS AT THE FOLLOWING PLACES WITH STRICT STOPLOSS, TAKE NIFTY AROUND 5060 TO 5070 LEVELS WITH STRICT STOPLOSS OF 5050 AND ONCE THIS IS BREACHED AGAIN TAKE A POSITION AT 5010 TO 5020 LEVELS WITH STRICT STOPLOSS OF 5000.
NOTE: THERE IS EVERY CHANCE OF RECOVERY IN THE SECOND HALF SO BE CAREFUL IN THE MARKET.
SELL JSPL SL 923 TGT 696/678/665
SELL HINDALCO SL 165 TGT 158/155/152
SELL JSWSTEEL SL 1156 TGT 1125/1116/1105
