GOOD MORNING!!!
INDICES ARE TOTTERED UNDER THE INTENSE SELLING PRESSURE INITIALLY TRACKING ASIAN MARKETS AND THEN EUROPEAN MARKETS ADDED FUEL TO THE FIRE IN THE SECOND HALF OF THE TRADING SESSION. INITIALLY THE DOWNFALL IN THE MARKET STARTED BY A MAJOR TRIGGER BY A FREAK TRADE IN RIL INSTEAD OF SELLING ICICI BANK AT RS 840.55 PER SHARE. EXCEPT FOR THE HEALTHCARE SECTOR ALL OTHER SECTORS WHERE IN RED, OVERALL HEALTH OF THE MARKET HAS BECOME NEGATIVE.
TODAY MARKETS ARE TO REMAIN FLAT AND RANGE BOUND, IF NIFTY TRADES BELOW 4930 THEN ONE CAN SEE NIFTY TO SLIDE DOWN TO 4900 AND THEN BREAK BELOW THIS LEVEL CAN TAKE IT TO 4865 LEVELS AND ANY CLOSE BELOW 4900 WILL BE HIT HARD BY BEARS IN THE MARKET. ON THE OTHER HAND IF NIFTY TRADES ABOVE 4980 THEN IT MAY GO UP TO 5000 AND THEN TO 5023 LEVELS AND ABOVE THAT MAY TAKE NIFTY 5050 BUT BE CAUTIOUS IN LONGS AS WE ARE NOW TRADING IN A WEAKER ZONE. ONE THING WHERE ONE EVERYONE NEEDS TO CONSIDER IS THE MAJOR TRIGGER IN THE MARKETS WOULD BE MANSOONS AND DISINVESTMENT SO ANY POSITIVE TRIGGER IN MANSOONS WOULD TAKE NIFTY TO A VERY BULLISH ZONE AND DISINVESTMENT WILL ALSO CONTRIBUTE TO IT AND MAY TAKE NIFTY TO FURTHER NEW HIGHS SO EVEN ON THE SHORTER SIDE STAY WITH CAUTION AS THERE IS EVERY CHANCE THAT MARKET CAN MOVE TO THE NEW HIGHS OF THE YEAR. STAY FOCUSED ON THE ISSUES STATED AND STAY SHORT FOR NOW AND FOLLOW THE LEVELS SPECIFIED ABOVE.
INDICES ARE TOTTERED UNDER THE INTENSE SELLING PRESSURE INITIALLY TRACKING ASIAN MARKETS AND THEN EUROPEAN MARKETS ADDED FUEL TO THE FIRE IN THE SECOND HALF OF THE TRADING SESSION. INITIALLY THE DOWNFALL IN THE MARKET STARTED BY A MAJOR TRIGGER BY A FREAK TRADE IN RIL INSTEAD OF SELLING ICICI BANK AT RS 840.55 PER SHARE. EXCEPT FOR THE HEALTHCARE SECTOR ALL OTHER SECTORS WHERE IN RED, OVERALL HEALTH OF THE MARKET HAS BECOME NEGATIVE.
TODAY MARKETS ARE TO REMAIN FLAT AND RANGE BOUND, IF NIFTY TRADES BELOW 4930 THEN ONE CAN SEE NIFTY TO SLIDE DOWN TO 4900 AND THEN BREAK BELOW THIS LEVEL CAN TAKE IT TO 4865 LEVELS AND ANY CLOSE BELOW 4900 WILL BE HIT HARD BY BEARS IN THE MARKET. ON THE OTHER HAND IF NIFTY TRADES ABOVE 4980 THEN IT MAY GO UP TO 5000 AND THEN TO 5023 LEVELS AND ABOVE THAT MAY TAKE NIFTY 5050 BUT BE CAUTIOUS IN LONGS AS WE ARE NOW TRADING IN A WEAKER ZONE. ONE THING WHERE ONE EVERYONE NEEDS TO CONSIDER IS THE MAJOR TRIGGER IN THE MARKETS WOULD BE MANSOONS AND DISINVESTMENT SO ANY POSITIVE TRIGGER IN MANSOONS WOULD TAKE NIFTY TO A VERY BULLISH ZONE AND DISINVESTMENT WILL ALSO CONTRIBUTE TO IT AND MAY TAKE NIFTY TO FURTHER NEW HIGHS SO EVEN ON THE SHORTER SIDE STAY WITH CAUTION AS THERE IS EVERY CHANCE THAT MARKET CAN MOVE TO THE NEW HIGHS OF THE YEAR. STAY FOCUSED ON THE ISSUES STATED AND STAY SHORT FOR NOW AND FOLLOW THE LEVELS SPECIFIED ABOVE.
NO RECOS FOR THE DAY
