GOOD MORNING!!!
DESPITE OF STRONG GLOBAL CUES INDIAN MARKETS TRADED SIDEWAYS DURING THE START OF THE MARKETS BUT CONTINUED THE RALLY FOR THE SEVENTH DAY IN A ROW TO SETTLE AT ONE AND HALF MONTH HIGHS AFTER SPANISH BOND AUCTION EASED WORRIES ABOUT THE EURO-ZONE CRISIS. EXPECTATIONS ON STRONG EARNINGS HAVE BOOSTED THE SENTIMENT AS FIRMS HAVE PAID HIGHER ADVANCED TAX IN Q1 JUNE 2010. THE BREADTH OF THE MARKET WAS POSITIVE, MARKETS HAVE MOVED UP ON THE STRONG BUYING FROM FII’S IN THE RECENT PAST I.E., FROM 10 JUN TO 16 JUN 10 THEY HAVE MADE PURCHASES OF AROUND 2787.45 CRORES AND THE NET INFLOW TOTALLED TO 1698.75 CRORES, WHEN COMPARED TO MAY 2010 THERE WAS A VERY HIGH OUTFLOW WHICH HAS FIGURED TO BE 12071.13 CRORES. ALL IN ALL THE MARKETS HAVE REGAINED THE STRENGTH.
TODAY MARKETS WOULD OPEN FLAT AND TRADE IN NARROW RANGE BOUND. ONE HAS TO BE VERY CAUTIOUS ON THE MARKETS TO TAKE POSITIONS, MAKE A NOTE OF THE FOLLOWING LEVELS TO ENTER INTO THE MARKETS FOR WISE TRADING. IF NIFTY TRADES ABOVE 5300 MARKETS WOULD MOVE UP TO 5344 AND ABOVE THAT POINT WOULD TAKE NIFTY TO 5400 ANY CLOSE ABOVE 5300 IS CONSIDERED TO BE VERY BULLISH AND ONE NEEDN’T TO WORRY ABOUT MINOR UPS AND DOWNS IN THE MARKETS AS NIFTY LIKELY TO MAKE FRESH HIGHS OF THE YEAR. ON THE DOWN SIDE IF NIFTY TRADES BELOW 5268 THEN ONE CAN SEE NIFTY TO MOVE DOWN TO 5250 AND THEN TO 5224 ANY BREAK BELOW 5224 WOULD DRAG NIFTY TO 5200. ONE HAS TO REMEMBER THAT OVERALL STRENGTH OF THE MARKET REMAINS STRONG SO ONE HAS TO ONLY THINK OF GOING LONG AND CAPITALIZE EVERY DOWNFALL TO ACCUMULATE AND TRADERS CAN FOLLOW THE ABOVE LEVELS FOR TRADING.
DESPITE OF STRONG GLOBAL CUES INDIAN MARKETS TRADED SIDEWAYS DURING THE START OF THE MARKETS BUT CONTINUED THE RALLY FOR THE SEVENTH DAY IN A ROW TO SETTLE AT ONE AND HALF MONTH HIGHS AFTER SPANISH BOND AUCTION EASED WORRIES ABOUT THE EURO-ZONE CRISIS. EXPECTATIONS ON STRONG EARNINGS HAVE BOOSTED THE SENTIMENT AS FIRMS HAVE PAID HIGHER ADVANCED TAX IN Q1 JUNE 2010. THE BREADTH OF THE MARKET WAS POSITIVE, MARKETS HAVE MOVED UP ON THE STRONG BUYING FROM FII’S IN THE RECENT PAST I.E., FROM 10 JUN TO 16 JUN 10 THEY HAVE MADE PURCHASES OF AROUND 2787.45 CRORES AND THE NET INFLOW TOTALLED TO 1698.75 CRORES, WHEN COMPARED TO MAY 2010 THERE WAS A VERY HIGH OUTFLOW WHICH HAS FIGURED TO BE 12071.13 CRORES. ALL IN ALL THE MARKETS HAVE REGAINED THE STRENGTH.
TODAY MARKETS WOULD OPEN FLAT AND TRADE IN NARROW RANGE BOUND. ONE HAS TO BE VERY CAUTIOUS ON THE MARKETS TO TAKE POSITIONS, MAKE A NOTE OF THE FOLLOWING LEVELS TO ENTER INTO THE MARKETS FOR WISE TRADING. IF NIFTY TRADES ABOVE 5300 MARKETS WOULD MOVE UP TO 5344 AND ABOVE THAT POINT WOULD TAKE NIFTY TO 5400 ANY CLOSE ABOVE 5300 IS CONSIDERED TO BE VERY BULLISH AND ONE NEEDN’T TO WORRY ABOUT MINOR UPS AND DOWNS IN THE MARKETS AS NIFTY LIKELY TO MAKE FRESH HIGHS OF THE YEAR. ON THE DOWN SIDE IF NIFTY TRADES BELOW 5268 THEN ONE CAN SEE NIFTY TO MOVE DOWN TO 5250 AND THEN TO 5224 ANY BREAK BELOW 5224 WOULD DRAG NIFTY TO 5200. ONE HAS TO REMEMBER THAT OVERALL STRENGTH OF THE MARKET REMAINS STRONG SO ONE HAS TO ONLY THINK OF GOING LONG AND CAPITALIZE EVERY DOWNFALL TO ACCUMULATE AND TRADERS CAN FOLLOW THE ABOVE LEVELS FOR TRADING.
NOTE: TODAY RIL AGM, KEEP AN EYE ON BOTH AMBANI BROTHERS STOCKS
BUY ICICIBANK SL 879 TGT 897/916/927
BUY RELCAP SL 757 TGT 773/781/798
BUY LT SL 1770 TGT 1797/1827/1848
BUY TTKPRESTIG SL 919 TGT 949/965/984 (POSITIONAL TGT 1150/1500)
POSITIONAL TRADES
BUY ADORWELD TGT 250
BUY HDFC TGT 3400
BUY ICICIBANK SL 879 TGT 897/916/927
BUY RELCAP SL 757 TGT 773/781/798
BUY LT SL 1770 TGT 1797/1827/1848
BUY TTKPRESTIG SL 919 TGT 949/965/984 (POSITIONAL TGT 1150/1500)
POSITIONAL TRADES
BUY ADORWELD TGT 250
BUY HDFC TGT 3400
