GOOD MORNING!!!
MARKETS WERE POSITIVE THROUGH OUT THE DAY THOUGH THERE WERE NEGATIVE NEWS FLOWS FROM EURO REGION THE ONLY SIGN OF RELIEF FOR BULLS WHICH HELD MARKETS TIGHT WAS CHINAS EXPORTS RISED BY 50% IN THE MONTH OF MAY WHICH HELD THE MARKET, METALS, HEALTHCARE AND OIL & GAS SHARES HAVE ROUTED AND HELD THE MARKETS ON THE POSITIVE TERRAIN, WHILE FMCG, IT AND POWER HAVE DISAPPOINTED AND COULDN’T ADD ANYTHING TO THE RISE IN INDICES. MARKETS IN THE AFTERNOON COULDN’T HOLD ANYTHING WHEN EUROPE STARTED FALLING SOON AFTER OPENING AND OUR MARKETS ALSO STARTED TAKING THE SAME PATH OF EUROPE AND STARTED DECLINING VERY SWIFTLY, FROM THE VERY POSITIVE ZONE MARKETS FELL TO NEGATIVE AND AT THE LAST HALF AN HOUR MARKETS MANAGED TO CLOSE SLIGHTLY POSITIVE BUT ALL IN ALL MARKETS BECAME WEAK AT THE CLOSING.
TODAY MARKETS WOULD OPEN FLAT AND REMAIN IN A NARRROW RANGE. ONE IS ADVISED TO STAY VERY CAUTIOUS AS EURO DEBT CRISIS ARE THE MAJOR CAUSE OF CONCERN IN THE MARKET IF THIS DEBT CRISIS INTENSIFIES WE MAY END UP IN DOUBLE RECESSION. WE HAVE SEEN MARKETS WITH LOT OF VOLATALITY WHICH IS NOT GIVING CLEAR DIRECTION OF THE MARKETS THOUGH TRADING IN NEGATIVE ZONES, MARKETS ARE VERY VOLATILE SO STAY CAUTIOUS IN THIS MARKETS. IF NIFTY TADES ABOVE 5025 THEN IT CAN REACH 5050 AND BREAK ABOVE THIS POINT CONVINCINGLY WOULD TAKE IT TO 5070 AND ON THE NEGATIVE SIDE IF NIFTY BREAKS BELOW 4980 THEN LIKELY TO GO TO 4950 AND BREAK BELOW THIS LEVEL WOULD TAKE IT TO 4900ONE IS ADVISED TO STAY VERY CAUTIOUS AND DON’T ENTER ANY TRADE IN BETWEEN 4980 AND 5025. KEEP AN EYE ON POWER STOCKS LIKE CESC, PTC, PFC AND OTHERS.
BUY STERLITE SL 622 TGT 638/642/645
BUY NAGARCONST SL 179 TGT 184/186/188
BUY DR REDDY SL 1463 TGT 1484/1490/1500
BUY PFC SL 300 TGT 304/306/309
BUY ORCHID SL 143 TGT 146/148/150
CAUTION BUY IN VERY LOW QTYS
MARKETS WERE POSITIVE THROUGH OUT THE DAY THOUGH THERE WERE NEGATIVE NEWS FLOWS FROM EURO REGION THE ONLY SIGN OF RELIEF FOR BULLS WHICH HELD MARKETS TIGHT WAS CHINAS EXPORTS RISED BY 50% IN THE MONTH OF MAY WHICH HELD THE MARKET, METALS, HEALTHCARE AND OIL & GAS SHARES HAVE ROUTED AND HELD THE MARKETS ON THE POSITIVE TERRAIN, WHILE FMCG, IT AND POWER HAVE DISAPPOINTED AND COULDN’T ADD ANYTHING TO THE RISE IN INDICES. MARKETS IN THE AFTERNOON COULDN’T HOLD ANYTHING WHEN EUROPE STARTED FALLING SOON AFTER OPENING AND OUR MARKETS ALSO STARTED TAKING THE SAME PATH OF EUROPE AND STARTED DECLINING VERY SWIFTLY, FROM THE VERY POSITIVE ZONE MARKETS FELL TO NEGATIVE AND AT THE LAST HALF AN HOUR MARKETS MANAGED TO CLOSE SLIGHTLY POSITIVE BUT ALL IN ALL MARKETS BECAME WEAK AT THE CLOSING.
TODAY MARKETS WOULD OPEN FLAT AND REMAIN IN A NARRROW RANGE. ONE IS ADVISED TO STAY VERY CAUTIOUS AS EURO DEBT CRISIS ARE THE MAJOR CAUSE OF CONCERN IN THE MARKET IF THIS DEBT CRISIS INTENSIFIES WE MAY END UP IN DOUBLE RECESSION. WE HAVE SEEN MARKETS WITH LOT OF VOLATALITY WHICH IS NOT GIVING CLEAR DIRECTION OF THE MARKETS THOUGH TRADING IN NEGATIVE ZONES, MARKETS ARE VERY VOLATILE SO STAY CAUTIOUS IN THIS MARKETS. IF NIFTY TADES ABOVE 5025 THEN IT CAN REACH 5050 AND BREAK ABOVE THIS POINT CONVINCINGLY WOULD TAKE IT TO 5070 AND ON THE NEGATIVE SIDE IF NIFTY BREAKS BELOW 4980 THEN LIKELY TO GO TO 4950 AND BREAK BELOW THIS LEVEL WOULD TAKE IT TO 4900ONE IS ADVISED TO STAY VERY CAUTIOUS AND DON’T ENTER ANY TRADE IN BETWEEN 4980 AND 5025. KEEP AN EYE ON POWER STOCKS LIKE CESC, PTC, PFC AND OTHERS.
BUY STERLITE SL 622 TGT 638/642/645
BUY NAGARCONST SL 179 TGT 184/186/188
BUY DR REDDY SL 1463 TGT 1484/1490/1500
BUY PFC SL 300 TGT 304/306/309
BUY ORCHID SL 143 TGT 146/148/150
CAUTION BUY IN VERY LOW QTYS
