GOOD MORNING!!!
WE HAVE WITNESSED QUITE A RANGE BOUND SESSION WHERE INDICES CLOSED ON POSITIVE NOTE LED BY SOME GOOD BUYING IN HEAVYWEIGHT COUNTERS. IT WAS ALL IN ALL DIRECTIONLESS MARKET FOR THE ENTIRE DAY AS GLOBAL AND LOCAL TRIGGERS WERE MISSING ON ACCOUNT OF CLOSING OF US MARKETS ON ACCOUNT OF MEMORIAL DAY. THOUGH FOURTH QUARTER GDP NUMBER WHICH REMIANED IN LINE WITH THE EXPECTATION AT 8.6% FAILED TO IMPACT THE BOURSES. THE FOURTH QUARTER GROSS DOMESTIC PRODUCT (GDP) NUMBER, WHICH REMAINED MORE OR LESS ON EXPECTED LINES AT 8.6%, FAILED TO FUEL ANY SIGNIFICANT UP-MOVE ON THE BOURSES BUT THERE WAS SOME PARTICIPATION AT THE END. POSITIVE DEVELOPMENTS ON THE SOUTH-WEST MONSOON ALSO LIFTED INVESTOR SENTIMENT IN TRADE. THE SOUTH-WEST MONSOON HAS FURTHER ADVANCED INTO MOST PARTS OF SOUTH ARABIAN SEA, ENTIRE KERALA, SOUTH TAMILNADU AND SOME MORE PARTS OF SOUTHWEST BAY OF BENGAL.
TODAY WE MAY WITNESS ANOTHER RANGE BOUND SESSION, ONE HAS TO BE VERY CAREFUL AT THE CURRENT LEVELS AS THE TREND REMAINS UNCLEAR AND MARKETS MAY MAXIMUM MOVE-UP TO 5165 LEVELS AND MAY SEE A DECLINE IF RESISTED AT THAT PLACE AND MAY COME DOWN TO NEW LOWS. IF NIFTY TRADES ABOVE 5070 THEN WE MAY LIKELY TO SEE NIFTY TO 5100 AND ABOVE THIS POINT WOULD TAKE NIFTY TO AROUND 5165 LEVELS AND ANY CLOSE ABOVE 5165 IS CONSIDERED TO BE SHORT TERM TREND REVERSAL WE MAY EVEN INITIATE FRESH LONGS AT THAT STAGE IF IT CLOSES CONVINCINGLY. ON THE OTHER SIDE IF NFITY TRADES BELOW 5045 THEN LIKELY TO DIP DOWN TO 5018 AND ANY BREAK BELOW MAY HAVE A MINOR SUPPORT AT 5000 AND BREACH BELOW THIS LEVEL WITH GOOD VOLUMES THEN CAN SEE NIFTY TO SLIDE DOWN TO 4950 LEVELS CLOSE BELOW 4970 WOULD MAKE BEARS TO CAPTIVATE THE MARKET SLOWLY.
POSITIVE COUNTERS: CROMPTON GREAVES, STC INDIA, GSPL, BOMBAY DEYING, ESSAR OIL, NMDC, IBREAL, IFCI, HIND COPPER, DREDGING CORP, KFA,
BUY RECLTD SL 286.4 TGT 295/299/304.5
BUY UNIPHOS SL 180 TGT 185/193/197
BUY ONGC SL 1164 TGT 1175/1192/1204 (SHORT TERM TGT 1275)
POSITIONAL TRADES
BUY JM FINANCIALS SL 30 TGT 50%/100%
BUY KFA TGT 50%/100%/200%
WE HAVE WITNESSED QUITE A RANGE BOUND SESSION WHERE INDICES CLOSED ON POSITIVE NOTE LED BY SOME GOOD BUYING IN HEAVYWEIGHT COUNTERS. IT WAS ALL IN ALL DIRECTIONLESS MARKET FOR THE ENTIRE DAY AS GLOBAL AND LOCAL TRIGGERS WERE MISSING ON ACCOUNT OF CLOSING OF US MARKETS ON ACCOUNT OF MEMORIAL DAY. THOUGH FOURTH QUARTER GDP NUMBER WHICH REMIANED IN LINE WITH THE EXPECTATION AT 8.6% FAILED TO IMPACT THE BOURSES. THE FOURTH QUARTER GROSS DOMESTIC PRODUCT (GDP) NUMBER, WHICH REMAINED MORE OR LESS ON EXPECTED LINES AT 8.6%, FAILED TO FUEL ANY SIGNIFICANT UP-MOVE ON THE BOURSES BUT THERE WAS SOME PARTICIPATION AT THE END. POSITIVE DEVELOPMENTS ON THE SOUTH-WEST MONSOON ALSO LIFTED INVESTOR SENTIMENT IN TRADE. THE SOUTH-WEST MONSOON HAS FURTHER ADVANCED INTO MOST PARTS OF SOUTH ARABIAN SEA, ENTIRE KERALA, SOUTH TAMILNADU AND SOME MORE PARTS OF SOUTHWEST BAY OF BENGAL.
TODAY WE MAY WITNESS ANOTHER RANGE BOUND SESSION, ONE HAS TO BE VERY CAREFUL AT THE CURRENT LEVELS AS THE TREND REMAINS UNCLEAR AND MARKETS MAY MAXIMUM MOVE-UP TO 5165 LEVELS AND MAY SEE A DECLINE IF RESISTED AT THAT PLACE AND MAY COME DOWN TO NEW LOWS. IF NIFTY TRADES ABOVE 5070 THEN WE MAY LIKELY TO SEE NIFTY TO 5100 AND ABOVE THIS POINT WOULD TAKE NIFTY TO AROUND 5165 LEVELS AND ANY CLOSE ABOVE 5165 IS CONSIDERED TO BE SHORT TERM TREND REVERSAL WE MAY EVEN INITIATE FRESH LONGS AT THAT STAGE IF IT CLOSES CONVINCINGLY. ON THE OTHER SIDE IF NFITY TRADES BELOW 5045 THEN LIKELY TO DIP DOWN TO 5018 AND ANY BREAK BELOW MAY HAVE A MINOR SUPPORT AT 5000 AND BREACH BELOW THIS LEVEL WITH GOOD VOLUMES THEN CAN SEE NIFTY TO SLIDE DOWN TO 4950 LEVELS CLOSE BELOW 4970 WOULD MAKE BEARS TO CAPTIVATE THE MARKET SLOWLY.
POSITIVE COUNTERS: CROMPTON GREAVES, STC INDIA, GSPL, BOMBAY DEYING, ESSAR OIL, NMDC, IBREAL, IFCI, HIND COPPER, DREDGING CORP, KFA,
BUY RECLTD SL 286.4 TGT 295/299/304.5
BUY UNIPHOS SL 180 TGT 185/193/197
BUY ONGC SL 1164 TGT 1175/1192/1204 (SHORT TERM TGT 1275)
POSITIONAL TRADES
BUY JM FINANCIALS SL 30 TGT 50%/100%
BUY KFA TGT 50%/100%/200%
