GOOD MORNING!!!
WEAKNESS IN THE ASIAN MARKETS HAS HAMPERED THE GAINS AND EDGED INDIAN MARKETS LOWER, AS INVESTORS BECAME APPREHENSIVE ON MARKETS AND OPTED TO TAKE SOME PROFITS OFF THE TABLE ON ACCOUNT OF A BIG BIG RALLY ON MONDAY WHICH HAS TRIGGERED ON THE ANNOUNCEMENT OF 750 BILLION EURO RESCUE PACKAGE BY EUROPEAN UNION FINANCE MINISTERS. INITIALLY MARKET OPENED ON A FLAT NOTE TRACKING WEAK GLOBAL CUES AND AFTER SOMETIME MARKETS TURNED SORE, IT WAS COMPLETELY A DAY OF TRADERS AND MARKET WAS ON A SWINGING NOTE UP AND DOWN BUT ALL IN ALL EDGED LOWER AND WEAKNESS PERSISTED THROUGH OUT THE DAY AND BREACHED THE PSYCOLOGICAL BARIER OF 5150 MARK AND OVERALL HEALTH OF THE MARKET TURNED WEAK.
MARKETS TODAY WOULD BE HIGHLY VOLATILE AND IN A NARROW RANGE BAND. ONE HAS TO BEAR IT IN MIND THAT MARKETS ARE VERY ERRATIC AND IS NOT GIVING CLEAR TREND AFTER A 180 POINT SURGE MARKET HAS LOST 80 POINTS WHICH INDICATES THAT THE STRENGTH OF MARKET IS YET NOT CONFIRMED ON THE POSITIVE SIDE. ONE IS ADVISED TO STAY VERY CAUTIOUS AND GET OUT OF MARKETS IN INTRADAY TILL THE CLEAR TREND IS FORMED. TODAY IF NIFTY TRADES BELOW 5125 THEN LIKELY TO COME DOWN TO 5083 AND THEN TO 5062 AND IF BREACHES BELOW THIS LEVEL THEN WOULD SLIDE DOWN TO 5037. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5160 THEN LIKELY TO MOVE UP TO 5200, BREAK AND TRADE ABOVE 5200 WOULD TAKE NIFTY TO 5240, ONE IS ADVISED TO STAY LONG IF NIFTY TRADES ABOVE 5200.
SELL UCO BANK SL 71 TGT 70/69/68
SELL ABAN SL 1048 TGT 1032/1018/1007
BUY UNIPHOS ABOVE 175 SL 173.80 TGT 177/178.5/179.7
BUY MUNDRA PORT ABOVE 705 SL 700 TGT 714/719/724
BUY IFCI ABOVE 52.5 SL 51.90 TGT 53.4/54.6/55.4
WEAKNESS IN THE ASIAN MARKETS HAS HAMPERED THE GAINS AND EDGED INDIAN MARKETS LOWER, AS INVESTORS BECAME APPREHENSIVE ON MARKETS AND OPTED TO TAKE SOME PROFITS OFF THE TABLE ON ACCOUNT OF A BIG BIG RALLY ON MONDAY WHICH HAS TRIGGERED ON THE ANNOUNCEMENT OF 750 BILLION EURO RESCUE PACKAGE BY EUROPEAN UNION FINANCE MINISTERS. INITIALLY MARKET OPENED ON A FLAT NOTE TRACKING WEAK GLOBAL CUES AND AFTER SOMETIME MARKETS TURNED SORE, IT WAS COMPLETELY A DAY OF TRADERS AND MARKET WAS ON A SWINGING NOTE UP AND DOWN BUT ALL IN ALL EDGED LOWER AND WEAKNESS PERSISTED THROUGH OUT THE DAY AND BREACHED THE PSYCOLOGICAL BARIER OF 5150 MARK AND OVERALL HEALTH OF THE MARKET TURNED WEAK.
MARKETS TODAY WOULD BE HIGHLY VOLATILE AND IN A NARROW RANGE BAND. ONE HAS TO BEAR IT IN MIND THAT MARKETS ARE VERY ERRATIC AND IS NOT GIVING CLEAR TREND AFTER A 180 POINT SURGE MARKET HAS LOST 80 POINTS WHICH INDICATES THAT THE STRENGTH OF MARKET IS YET NOT CONFIRMED ON THE POSITIVE SIDE. ONE IS ADVISED TO STAY VERY CAUTIOUS AND GET OUT OF MARKETS IN INTRADAY TILL THE CLEAR TREND IS FORMED. TODAY IF NIFTY TRADES BELOW 5125 THEN LIKELY TO COME DOWN TO 5083 AND THEN TO 5062 AND IF BREACHES BELOW THIS LEVEL THEN WOULD SLIDE DOWN TO 5037. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5160 THEN LIKELY TO MOVE UP TO 5200, BREAK AND TRADE ABOVE 5200 WOULD TAKE NIFTY TO 5240, ONE IS ADVISED TO STAY LONG IF NIFTY TRADES ABOVE 5200.
SELL UCO BANK SL 71 TGT 70/69/68
SELL ABAN SL 1048 TGT 1032/1018/1007
BUY UNIPHOS ABOVE 175 SL 173.80 TGT 177/178.5/179.7
BUY MUNDRA PORT ABOVE 705 SL 700 TGT 714/719/724
BUY IFCI ABOVE 52.5 SL 51.90 TGT 53.4/54.6/55.4
