GOOD MORNING!!!
BIGGEST HURDLE IN THE LAST TRADING SESSION WAS GLOBAL PRESSURE AND DISAPPOINTING SBI RESULTS WHICH LEAD, EURO DEBT CRISIS HAS WEIGHED ON INVESTORS SENTIMENT ACROSS THE GLOBE EXCEPT OF HEALTHCARE AND FMCG ALL OTHER SECTORS LIKE OIL ANG GAS, METALS AND REALITY WERE THE BIGGEST LOOSERS OF THE INDEX. HARDEST HIT IN INDICES WERE METALS WHICH WERE DOWN BY 3.48% . BEARS HAVE COMPLETELY TAKEN THE MARKETS IN THEIR STRIDE. EVEN THE POSITIVE NEWS DIDN’T REALLY TURN SWEET FOR THE MARKETS THE HEADLINE INFLATION MEASURED BY THE WPI DECLINED MARGINALLY FROM 10.05% TO 9.59%.
TODAY MARKETS WOULD OPEN NEGATIVE AS WE HAVE WITNESSED LOT OF SELLING IN AMERICAN MARKETS AND EUROPEN INDICIES AND HAVE SEEN SELLING IN ASIAN MARKETS TOO WE MAY SEE WEAK OPENING AND MAY TAKE SUPPORT AT 5004 AND BREAK BELOW THIS LEVEL WOULD DRAG NIFTY TO 4976 AND ANY CLOSE BELOW 4950 IS CONSIDERED TO BE MAJOR TREND REVERSAL AND WOULD DRAG NIFTY DOWN TO 4675 LEVELS. SO STAY CAUTIOUS AND IF NIFTY TRADES ABOVE 4950 ONE CAN TAKE LONG POSITIONS KEEPING IN MIND 4950 AS STOPLOSS AND ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5130 THEN ONE CAN LOOK FOR SOME POSITIVENESS TO PERSIST IN THE MARKET UNTIL THEN THERE IS NO SCOPE OF POSITIVENESS IN THE MARKET EXCEPT IN THE FORM OF RETRACEMENT. SO ONE CAN TAKE INTRADAY EITHER SHORT OR LONG BUT TAKE POSITIONS BASED ON THE LEVELS SPECIFIED ABOVE.
BUY HCL TECH SL 397 TGT 409/415/435
BUY SCI SL 159 TGT 168/172/175
SELL BHUSHAN STEEL SL 1574 TGT 1550/1543/1531
SELL SAIL SL 210 TGT 204/201/197
SELL SBIN SL 2230 TGT 2200/2180/2137
SELL STERLITE SL 705 TGT 692/687/682
SELL ULTRATECH SL 941 TGT 923/910/900
NOTE: TAKE BUY CALLS WHEN MARKET OPENS NEGATIVE
POSITIONAL TRADES
BUY BERGER PAINTS TGT 86
BUY NAVNEET PUBLICATIONS TGT 62/73/85
BUY KIRLOSKAR FERROUS INDS TGT 43/48
BUY JAYASWAL NECO TGT 51/65
BUY FAIRFIELD ATLAS CMP 50 TGT 75/100/150 (BUY IN THE OPENING)
