GOOD MORNING!!!
AT THE LAST HALF HOUR OF TRADE BULLS STRUCK WITH VENGENCE AND GAVE A VERY GOOD COME BACK AFTER A WEAK CLOSING LAST TRADING DAY. INITIALLY IN THE START OF THE DAY MARKETS EDGED LOWER TRACKING BACK SUBDUED REGIONAL PEERS AND EDGED LITTLE LOWER AND TRADEDED IN A NARROW RANGE UNTIL THE EUROPEAN MARKETS GOT OPENED AND SOON AFTER THAT MARKETS NOSE DIVED 45 POINTS AND TRADED IN A NARROW BAND AND IN THE LAST HALF AN HOUR OF TRADE MARKETS BOUNCED BACK ON HEAVY BUYING IN ALL THE FRONT END COUNTERS. THE MOST IMPORTANT FACT IN THE RALLY WAS ON THE POSITIVE COMMENTS FROM THE HONBLE PRIME MINISTER MANMOHAN SINGH ON THE ECONOMY BOOSTED INVESTORS CONFIDENCE IN THE TRADE, THE PRIME MINISTER IN HIS COMMENTS ADDRESSED THAT THE INDIAN ECONOMY WAS LIKELY TO GROW AT A MUCH FASTER PACE THAN 8.5% IN THIS FINANCIAL YEAR.
AT THE LAST HALF HOUR OF TRADE BULLS STRUCK WITH VENGENCE AND GAVE A VERY GOOD COME BACK AFTER A WEAK CLOSING LAST TRADING DAY. INITIALLY IN THE START OF THE DAY MARKETS EDGED LOWER TRACKING BACK SUBDUED REGIONAL PEERS AND EDGED LITTLE LOWER AND TRADEDED IN A NARROW RANGE UNTIL THE EUROPEAN MARKETS GOT OPENED AND SOON AFTER THAT MARKETS NOSE DIVED 45 POINTS AND TRADED IN A NARROW BAND AND IN THE LAST HALF AN HOUR OF TRADE MARKETS BOUNCED BACK ON HEAVY BUYING IN ALL THE FRONT END COUNTERS. THE MOST IMPORTANT FACT IN THE RALLY WAS ON THE POSITIVE COMMENTS FROM THE HONBLE PRIME MINISTER MANMOHAN SINGH ON THE ECONOMY BOOSTED INVESTORS CONFIDENCE IN THE TRADE, THE PRIME MINISTER IN HIS COMMENTS ADDRESSED THAT THE INDIAN ECONOMY WAS LIKELY TO GROW AT A MUCH FASTER PACE THAN 8.5% IN THIS FINANCIAL YEAR.
TODAY MARKETS WOULD OPEN ON A POSITIVE NOTE AND MAY CONTINUE THE RALLY BUT 5165 LEVEL IS AGAIN A CONCERN IN RESPECT TO INVESTORS, ONE HAS TO WATCH OUT FOR THE LEVELS SPECIFIED BELOW. IF NIFTY TRADES ABOVE 5020 THEN LIKLEY TO MOVE UP TO 5065 LEVELS AND ANY BREAK ABOVE THIS POINT CONVINCINGLY WITH VOLUMES WOULD SURPASS 5100 AND SUSTAINING ABOVE 5100 WOULD TAKE NIFTY TO THE LEVELS EXPECTED I.E., 5165 LEVELS WHICH IS ONE OF THE VERY CRUCIAL LEVEL AT THIS STAGE FOR FURTHER UPSIDE OR DECLINE FROM THERE ON AS WE ARE IN THE RETRACEMENT PHASE IN DECLINING TREND SO EVERY POSSIBILITY OF NIFTY TO DECLINE AFTER REACHING 5165 LEVELS TO THE MAXIMUM BUT IF IT SUSTAINS ABOVE THAT AGAIN ONE HAS TO JUST GO WITH THE TREND THAN THINKING OF ANY DECLINE. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 4980 ONE IS ADVISED TO STAY SHORT FOR A TARGET OF 4950 AND BREAK BELOW WOULD TAKE IT TO 4900 LEVELS. ANYTHING BELOW 4950 IS BETTER TO STAY AWAY FROM LONGS.
BUY RCOM SL 153.4 TGT 160/163.5/168 *
BUY GSPL SL 98 TGT 101/103/105*
BUY ONGC SL 1174 TGT 1197/1214/1223*
BUY HEROHONDA SL 1980 TGT 2011/2032/2065 *
BUY ENIL SL 223 TGT 230/236/241
BUY ONMOBILE SL 287 TGT 299/309/322
***NOTE: RECOS INDICATED WITH * ARE EVEN POSITIONAL CALLS FOR A VERY SHORT TERM ONE CAN HOLD FOR A VERY GOOD APPRECIATION.
POSITIONAL TRADES
BUY FOUR SOFT TGT 50%/100%/200%
