GOOD MORNING!!!
ON FRIDAY THE DOMESTIC MARKETS CONTINUED TO TRADE IN A TIGHT RANGE BUT GAINED STRENGTH IN THE LATE AFTERNOON TRADE TRACKING POSITIVE EUROPEAN SHARES. MOST OF THE ASIAN MARKETS WERE ON THE POSITIVE LINES BOOSTING THE INVESTORS CONFIDENCE AT THE LOCAL MARKETS TOO. BOTH NIFTY AND SENSEX HIT INTRADAY HIGHS BY AFTERNOON TRADE BUT RESISTING 5150 LEVELS. AMONGST THE SECTORS CONSUMER GOODS, BANKING INCHED HIGHER WHILE METALS AND REALITY DECLINED.
THE MOST IMPORTANT FACTOR IN THE UPWARD RALLY IN THE LAST FEW SESSIONS OF TRADE WAS OF UTMOST CONCERN AS THERE IS NO CONVINCING PARTICIPATION FROM EITHER FII OR DII’S IN BUYING AREA WHERE MARKET HAVE RALLIED. THIS IMPLIES THAT THERE IS NO INTREST ON THE BUYING SIDE. WE HAVE CLEARLY INDICATED THAT THE MARKET ARE ON THE RETRACEMENT ZONE WHICH MAY TAKE NIFTY TO 5165 LEVLES TO THE MAXIMUM AND ONE IS ADVISED FROM THE PAST FEW DAYS THAT ONE SHOULD REMAIN VERY CAUTIOUS AND CLEARLY STATED TO STAY SHORT TILL 5165 AND ABOVE THAT ONE CAN TAKE LONG POSITIONS, TODAY MARKETS MAY INCH LOWER AND LOWER, NIFTY IN SHORT TIME BREACH THE PREVIOUS LOWS AND WILL HEAD TOWARDS 4675 BEFORE THAT NIFTY WOULD TAKE SUPPORT AT 4950 LEVELS ONE HAS TO STAY SHORT BELOW 4950 WITH THE SAME LEVEL AS STOPLOSS TILL 4675 LEVELS AND WE MAY SEE SOME BUYING ON BARGAIN HUNT AT THIS LEVELS. ONE IS ADVISED TO START BUYING ONLY AT LEVELS INDICATED AS SUPPORTS AS NIFTY ON THE LONG TERM REMAINS VERY BULLISH.
ONE IS ADVISED TO CONCENTRATE ON ONGC, GSPL, COMMUNICATION STOCKS LIKE RCOM, IDEA AND BHARTI FOR BUYING AT LOWER LEVELS THESE ARE THE STOCKS WHERE ONE CAN LOOK FOR BARGAIN HUNTING THEY CAN MOVE FAST ON DECLINES INCLUDING SUGAR AND AUTO SPACE. ONE HAS TO JUST IGNORE STOCKS FROM BANKING SECTOR. ONE CAN TAKE RISKY BUY CALLS ON THE ABOVE COUNTERS. NIFTY LIKLEY TO COME DOWN BYAROUND 180 POINTS.
BANKING AND METALS MAY OUT PERFORM IN THE UNDER PERFORMERS ZONE FOR TODAY
SELL ICICI BANK SL 871 TGT 851/840/832
SELL TATA STEEL SL 485 TGT 478/470/461
SELL SESAGOA SL 374 TGT 362/354/340
ON FRIDAY THE DOMESTIC MARKETS CONTINUED TO TRADE IN A TIGHT RANGE BUT GAINED STRENGTH IN THE LATE AFTERNOON TRADE TRACKING POSITIVE EUROPEAN SHARES. MOST OF THE ASIAN MARKETS WERE ON THE POSITIVE LINES BOOSTING THE INVESTORS CONFIDENCE AT THE LOCAL MARKETS TOO. BOTH NIFTY AND SENSEX HIT INTRADAY HIGHS BY AFTERNOON TRADE BUT RESISTING 5150 LEVELS. AMONGST THE SECTORS CONSUMER GOODS, BANKING INCHED HIGHER WHILE METALS AND REALITY DECLINED.
THE MOST IMPORTANT FACTOR IN THE UPWARD RALLY IN THE LAST FEW SESSIONS OF TRADE WAS OF UTMOST CONCERN AS THERE IS NO CONVINCING PARTICIPATION FROM EITHER FII OR DII’S IN BUYING AREA WHERE MARKET HAVE RALLIED. THIS IMPLIES THAT THERE IS NO INTREST ON THE BUYING SIDE. WE HAVE CLEARLY INDICATED THAT THE MARKET ARE ON THE RETRACEMENT ZONE WHICH MAY TAKE NIFTY TO 5165 LEVLES TO THE MAXIMUM AND ONE IS ADVISED FROM THE PAST FEW DAYS THAT ONE SHOULD REMAIN VERY CAUTIOUS AND CLEARLY STATED TO STAY SHORT TILL 5165 AND ABOVE THAT ONE CAN TAKE LONG POSITIONS, TODAY MARKETS MAY INCH LOWER AND LOWER, NIFTY IN SHORT TIME BREACH THE PREVIOUS LOWS AND WILL HEAD TOWARDS 4675 BEFORE THAT NIFTY WOULD TAKE SUPPORT AT 4950 LEVELS ONE HAS TO STAY SHORT BELOW 4950 WITH THE SAME LEVEL AS STOPLOSS TILL 4675 LEVELS AND WE MAY SEE SOME BUYING ON BARGAIN HUNT AT THIS LEVELS. ONE IS ADVISED TO START BUYING ONLY AT LEVELS INDICATED AS SUPPORTS AS NIFTY ON THE LONG TERM REMAINS VERY BULLISH.
ONE IS ADVISED TO CONCENTRATE ON ONGC, GSPL, COMMUNICATION STOCKS LIKE RCOM, IDEA AND BHARTI FOR BUYING AT LOWER LEVELS THESE ARE THE STOCKS WHERE ONE CAN LOOK FOR BARGAIN HUNTING THEY CAN MOVE FAST ON DECLINES INCLUDING SUGAR AND AUTO SPACE. ONE HAS TO JUST IGNORE STOCKS FROM BANKING SECTOR. ONE CAN TAKE RISKY BUY CALLS ON THE ABOVE COUNTERS. NIFTY LIKLEY TO COME DOWN BYAROUND 180 POINTS.
BANKING AND METALS MAY OUT PERFORM IN THE UNDER PERFORMERS ZONE FOR TODAY
SELL ICICI BANK SL 871 TGT 851/840/832
SELL TATA STEEL SL 485 TGT 478/470/461
SELL SESAGOA SL 374 TGT 362/354/340
