GOOD MORNING!!!
MARKETS COMPLETELY OUT PERFORMED AFTER CHINA SIGNALLED SUPPORT FOR THE EURO ZONE. INITIALLY MARKETS MIRRORING A RECOVERY IN ASIAN STOCKS AND STRUGGLED TO SURPASS 5000 MARK BUT NO SOONER THE MARKET GOT THE NEWS OF CHINA’S SUPPORT FOR EURO ZONE MARKETS BLASTED AND TRADERS ROLLED OVER POSITIONS IN DERIVATIVE SEGMENT FROM MAY TO JUNE CONTRACT AHEAD OF EXPIRY. THE OVERALL MARKET BREADTH REMAINED STRONG, AS THE DAY PROGRESSED THE MARKET HAS BECOME STRONGER. BANKING, METAL, AUTO, CAPITAL GOODS AND IT PIVOTALS SHARES ADVANCED GAINED ON FRESH BUYING. ALL IN ALL IT WAS A HEALTHY ENDING OF MAY CONTRACTS.
TODAY MARKETS LOOK POSITIVE ON GLOBAL CUES AS EUROPEAN AND AMERICAN STOCKS ENDED ABOVE 3% AND WITH ASIAN STOCKS SURGING, WE MAY INITIALLY WITNESS MARKETS TO MOVE UP BUT ONE NEEDS TO BE ON A VERY CAUTIOUS AS THE SURGE IS PURELY ON THE ANNOUNCEMENT OF CHINA SIGNALLING SUPPORT FOR EURO ZONE AND IT IS WISE TO TAKE LESS LONG POSITIONS AS WE SEE MARKETS STILL AT A VERY CRUCIAL JUNCTURE AND DIDN’T SIGNAL BUYING. IF NIFTY TRADES ABOVE 5000 THEN LIKELY TO GO TO 5050 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY 5070 WE MAY SEE NIFTY TO WEAKEN WHEN IT TRADES ABOVE 5050 LEVELS, ONE NEEDS TO BE VERY CAUTIOUS ON A SHORT TERM VIEW THOUGH LONG TERM VIEW ON NIFTY STILL HOLDS STRENGTH. IF NIFTY TRADES BELOW 4990 THEN ONE CAN SEE NIFTY TO SLIDE DOWN TO 4940 LEVELS AND BREAK BELOW THIS WOULD THEN TAKE TO 4940. FOR TODAY MARKETS LIKELY TO BOUNCE AND TRAIL WITH STRICT STOPLOSS.
BUY TATASTEEL SL 486 TGT 498/504/509
BUY JSWSTEEL SL 1074 TGT 1090/1098/1111
BUY TATAMOTORS SL 738 TGT 757/769/779
BUY ESCORTS SL 176 TGT 182/185/187
BUY HINDOIL EXPLORATION SL 179 TGT 190/193/197
MARKETS COMPLETELY OUT PERFORMED AFTER CHINA SIGNALLED SUPPORT FOR THE EURO ZONE. INITIALLY MARKETS MIRRORING A RECOVERY IN ASIAN STOCKS AND STRUGGLED TO SURPASS 5000 MARK BUT NO SOONER THE MARKET GOT THE NEWS OF CHINA’S SUPPORT FOR EURO ZONE MARKETS BLASTED AND TRADERS ROLLED OVER POSITIONS IN DERIVATIVE SEGMENT FROM MAY TO JUNE CONTRACT AHEAD OF EXPIRY. THE OVERALL MARKET BREADTH REMAINED STRONG, AS THE DAY PROGRESSED THE MARKET HAS BECOME STRONGER. BANKING, METAL, AUTO, CAPITAL GOODS AND IT PIVOTALS SHARES ADVANCED GAINED ON FRESH BUYING. ALL IN ALL IT WAS A HEALTHY ENDING OF MAY CONTRACTS.
TODAY MARKETS LOOK POSITIVE ON GLOBAL CUES AS EUROPEAN AND AMERICAN STOCKS ENDED ABOVE 3% AND WITH ASIAN STOCKS SURGING, WE MAY INITIALLY WITNESS MARKETS TO MOVE UP BUT ONE NEEDS TO BE ON A VERY CAUTIOUS AS THE SURGE IS PURELY ON THE ANNOUNCEMENT OF CHINA SIGNALLING SUPPORT FOR EURO ZONE AND IT IS WISE TO TAKE LESS LONG POSITIONS AS WE SEE MARKETS STILL AT A VERY CRUCIAL JUNCTURE AND DIDN’T SIGNAL BUYING. IF NIFTY TRADES ABOVE 5000 THEN LIKELY TO GO TO 5050 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY 5070 WE MAY SEE NIFTY TO WEAKEN WHEN IT TRADES ABOVE 5050 LEVELS, ONE NEEDS TO BE VERY CAUTIOUS ON A SHORT TERM VIEW THOUGH LONG TERM VIEW ON NIFTY STILL HOLDS STRENGTH. IF NIFTY TRADES BELOW 4990 THEN ONE CAN SEE NIFTY TO SLIDE DOWN TO 4940 LEVELS AND BREAK BELOW THIS WOULD THEN TAKE TO 4940. FOR TODAY MARKETS LIKELY TO BOUNCE AND TRAIL WITH STRICT STOPLOSS.
BUY TATASTEEL SL 486 TGT 498/504/509
BUY JSWSTEEL SL 1074 TGT 1090/1098/1111
BUY TATAMOTORS SL 738 TGT 757/769/779
BUY ESCORTS SL 176 TGT 182/185/187
BUY HINDOIL EXPLORATION SL 179 TGT 190/193/197
