GOOD MORNING!!!
MARKETS EXTENDED THEIR LOSSES IN THE LATE-AFTERNOON SESSION AFTER SOME MEDIA REPORTS INDICATED THAT MORGAN STANLEY WAS THE NEXT CORPORATE HOUSE ON THE US FEDERAL INVESTIGATORS' RADAR AFTER GOLDMAN SACHS IN THE MORTGAGE DERIVATIVE PRODUCTS CASE AND US INDEX FUTURES WHICH FELL. THOUGH THERE WAS LOWER THAN EXPECTED IIP DATA IT HAS PAVED WAY TO THE INCREASE IN INTEREST RATE SENSITIVE BANKING AND REALTY STOCKS ROSE AS LOWER-THAN-EXPECTED GROWTH IN INDUSTRIAL PRODUCTION EASED RATE-HIKE WORRIES. TELECOM SECTOR WAS THE WORST HIT AND MAIN CULPRIT FOR THE DECLINE IN THE INDICES. METAL MAKERS ALSO MELTED UNDER GLOBAL PRESSURE. ALL IN ALL VOLATILITY WAS IMMENSE AND MARKET BREADTH WAS WEAK AND THE SENTIMENT WITH IIP DATA HAS ALSO WEAKEND. STAY CAUTIOUS AT EVERY HIGHER LEVELS.
TODAY MARKETS WOULD OPEN POSITIVE AND MAY FACE A TOUGH RESISTANCE AT 5200 AND IF CROSSES WOULD TAKE IT TO 5240 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD LEAD TO 5300 WHICH IS CONSIDERED TO BE A VERY STRONG RESISTANCE WHICH MAY NOT BE BROKEN IN NEAR TERM AND NIFTY EXPECTED TO SLIDE FROM EVERY LEVEL INDICATED ABOVE. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5137 THEN WOULD LIKELY TO COME DOWN TO 5098 AND BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 5062 AND FURTHER WEAKNESS INDICATES MARKET WOULD COME DOWN TO MUCH LOWER LEVELS SO IF NIFTY TRADES BELOW 5050 IT IS A CAUTION TO TRADE WISE.
BUY AVAYAGCL ABOVE 302 SL 293.90 TGT 314.7/327/346*
BUY BAJAJFINSV ABOVE 472 SL 465 TGT 481.7/492/507 *
BUY WELGUJ SL 262 TGT 268/274/278*
MARKETS EXTENDED THEIR LOSSES IN THE LATE-AFTERNOON SESSION AFTER SOME MEDIA REPORTS INDICATED THAT MORGAN STANLEY WAS THE NEXT CORPORATE HOUSE ON THE US FEDERAL INVESTIGATORS' RADAR AFTER GOLDMAN SACHS IN THE MORTGAGE DERIVATIVE PRODUCTS CASE AND US INDEX FUTURES WHICH FELL. THOUGH THERE WAS LOWER THAN EXPECTED IIP DATA IT HAS PAVED WAY TO THE INCREASE IN INTEREST RATE SENSITIVE BANKING AND REALTY STOCKS ROSE AS LOWER-THAN-EXPECTED GROWTH IN INDUSTRIAL PRODUCTION EASED RATE-HIKE WORRIES. TELECOM SECTOR WAS THE WORST HIT AND MAIN CULPRIT FOR THE DECLINE IN THE INDICES. METAL MAKERS ALSO MELTED UNDER GLOBAL PRESSURE. ALL IN ALL VOLATILITY WAS IMMENSE AND MARKET BREADTH WAS WEAK AND THE SENTIMENT WITH IIP DATA HAS ALSO WEAKEND. STAY CAUTIOUS AT EVERY HIGHER LEVELS.
TODAY MARKETS WOULD OPEN POSITIVE AND MAY FACE A TOUGH RESISTANCE AT 5200 AND IF CROSSES WOULD TAKE IT TO 5240 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD LEAD TO 5300 WHICH IS CONSIDERED TO BE A VERY STRONG RESISTANCE WHICH MAY NOT BE BROKEN IN NEAR TERM AND NIFTY EXPECTED TO SLIDE FROM EVERY LEVEL INDICATED ABOVE. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5137 THEN WOULD LIKELY TO COME DOWN TO 5098 AND BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 5062 AND FURTHER WEAKNESS INDICATES MARKET WOULD COME DOWN TO MUCH LOWER LEVELS SO IF NIFTY TRADES BELOW 5050 IT IS A CAUTION TO TRADE WISE.
BUY AVAYAGCL ABOVE 302 SL 293.90 TGT 314.7/327/346*
BUY BAJAJFINSV ABOVE 472 SL 465 TGT 481.7/492/507 *
BUY WELGUJ SL 262 TGT 268/274/278*
BUY DR REDDY ABOVE 1260.5 SL 1251 TGT 1272/1285/1307 *
BUY KOTAKBANK SL 762 TGT 775/782/790
BUY CANBK SL 421 TGT 429/434/440
SELL BHEL BELOW CLOSING PRICE SL 2381 TGT 2359/2345/2328
SELL SUZLON BELOW CLOSING PRICE SL 67.7 TGT 66/65/64
BUY CANBK SL 421 TGT 429/434/440
SELL BHEL BELOW CLOSING PRICE SL 2381 TGT 2359/2345/2328
SELL SUZLON BELOW CLOSING PRICE SL 67.7 TGT 66/65/64
