GOOD MORNING!!!
MARKETS RECOVERED FROM A DEEP DOWNSIDE, EQUITY, MARKETS EXTENDED THEIR EARLY LOSSES IN LATE AFTERNOON TRADES LED BY SHARP CUTS IN SOME OF THE REGIONAL PEERS AND SUBDUED START FOR MOST OF THE EUROPEAN SHARES. THE MARKET BREADTH TURNED NEGATIVE ON THE BACK OF SELLING PRESSURE IN MID-CAP AND SMALL-CAP SPACE. IN SECTORAL SPACE METALS DOWN 2.04%, CAPITAL GOODS DOWN 1.41%, REALTY DOWN 1.36%, IT DOWN 1.26% AND POWER DOWN 1.23%. MARKETS HAVE BOUNCED BACK WITH VERY GOOD VOLUMES AND HAVE NEGATED ALL THE LOSSES MADE IN THE MORNING SESSION. ALMOST ALL THE STOCKS HAVE BOUNCED BACK ON BARGAIN HUNT. BANKING RECOVERED FROM LOWS AND THE SOLE PERFORMER IN YESTERDAYS MARKET WAS PHARMA
TODAY MARKET MAY OPEN IN DEEP RED WITH AMERICAN MARKETS RECORDING THE HIGHEST FALL IN A YEAR AND ASIAN MARKETS ARE TRADING IN NEGATIVE ZONES. TODAY NIFTY WOULD BLEED INITIALLY TAKING A SUPPORT AT 5000 LEVELS AND THEN MAJOR SUPPORT AT 4950. ONE CAN INITIATE LONGS NEAR TO 4950 LEVELS AND MOVE SEE TILL THE END OF THE DAY IF NIFTY CLOSES ABOVE 4950 THEN HOLD IT ELSE EXIT ALL YOUR LONGS AS MARKETS WOULD FALL MUCH MORE IF IT DOESN’T HOLD TO 4950 LEVELS. ON THE POSITIVE SIDE CHANCES ARE VERY REMOTE FOR TODAYS TRADING.
NOTE: BARGAIN HAUNTING CAN BE INITIATED WHEN MARKET FALLS AND COMES DOWN TO THE SUPPORT LEVELS INDICATED ABOVE.
MARKETS RECOVERED FROM A DEEP DOWNSIDE, EQUITY, MARKETS EXTENDED THEIR EARLY LOSSES IN LATE AFTERNOON TRADES LED BY SHARP CUTS IN SOME OF THE REGIONAL PEERS AND SUBDUED START FOR MOST OF THE EUROPEAN SHARES. THE MARKET BREADTH TURNED NEGATIVE ON THE BACK OF SELLING PRESSURE IN MID-CAP AND SMALL-CAP SPACE. IN SECTORAL SPACE METALS DOWN 2.04%, CAPITAL GOODS DOWN 1.41%, REALTY DOWN 1.36%, IT DOWN 1.26% AND POWER DOWN 1.23%. MARKETS HAVE BOUNCED BACK WITH VERY GOOD VOLUMES AND HAVE NEGATED ALL THE LOSSES MADE IN THE MORNING SESSION. ALMOST ALL THE STOCKS HAVE BOUNCED BACK ON BARGAIN HUNT. BANKING RECOVERED FROM LOWS AND THE SOLE PERFORMER IN YESTERDAYS MARKET WAS PHARMA
TODAY MARKET MAY OPEN IN DEEP RED WITH AMERICAN MARKETS RECORDING THE HIGHEST FALL IN A YEAR AND ASIAN MARKETS ARE TRADING IN NEGATIVE ZONES. TODAY NIFTY WOULD BLEED INITIALLY TAKING A SUPPORT AT 5000 LEVELS AND THEN MAJOR SUPPORT AT 4950. ONE CAN INITIATE LONGS NEAR TO 4950 LEVELS AND MOVE SEE TILL THE END OF THE DAY IF NIFTY CLOSES ABOVE 4950 THEN HOLD IT ELSE EXIT ALL YOUR LONGS AS MARKETS WOULD FALL MUCH MORE IF IT DOESN’T HOLD TO 4950 LEVELS. ON THE POSITIVE SIDE CHANCES ARE VERY REMOTE FOR TODAYS TRADING.
NOTE: BARGAIN HAUNTING CAN BE INITIATED WHEN MARKET FALLS AND COMES DOWN TO THE SUPPORT LEVELS INDICATED ABOVE.
