GOOD MORNING!!!
THE MARKETS SURGED ON THE NEWS THAT CHINA WILL ALLOW ITS CURRENCY MORE FREEDOM TO MOVE AGAINST THE US DOLLAR AND LATER WITH THE END OF UNIT LINKNED INSURANCE PRODUCTS (ULIPS) SAGA THESE BOTH HAVE AIDED THE RALLY. METALS AND REALITY MADE A GOOD MOVE IN THE MARKETS IT HAS UNDERPERFORMED ON RUPEE SURGE AGAINST DOLLAR. MARKETS CONTINUED TO REMAIN ON THE UPTREND WITH NEWS COMING IN INFAVOUR OF MARKETS AFTER ULIPS MET DEPARTMENT SAID MANSOON RAINS REACHED SOME REGIONS OF GUJRAT SO THESE ALL NEWS KEPT MARKET ON STEADY PACE. METALS OUTPERFORMED IN THE MARKETS AS CHINA PLEDGED TO MAKE ITS CURRENCY MORE FLEXIBLE LIFTED COPPER AND OTHER BASE METALS IN SHANGHAI MARKET ON HOPES INCREASED PURCHASING POWER WILL BOOST THE DEMAND. OVERALL MARKETS WERE IN GOOD SHAPE AND VERY HEALTHY.
TODAY MARKETS LOOKS VERY VOLATILE ON FNO EXPIRY FRONT. WE MAY SEE LOT OF BIG MOVES IN THE MARKETS ONE HAS TO BE VERY CAUTIOUS NOW AT THIS STAGE IN THE MARKETS AS WE MAY SEE IRRATIC MOVES IN THE MARKETS. IF NIFTY TRADES ABOVE 5373 IN NIFTY ONLY THEN TAKE LONG POSITION AND WE MAY SEE TOUGH RESISTANCE AT 5400 LEVELS AND BREAK ABOVE THIS LEVEL ON CONVINCING NOTE WOULD TAKE NIFTY TO 5450 LEVELS AND ONE SHOULD REMEMBER THAT THOUGH MARKET IS ON A BULLISH ZONE WE MAY HAVE IRRATIC UP AND DOWN MOVES AHEAD OF EXPIRY SO ONE NEEDS TO STAY VERY CATIOUS AT HIGHER LEVELS, OVERALL MARKETS LOOK VERY BULLISH ON NEAR TERM. ON THE NEGATIVE ZONE IF NIFTY TRADES BELOW 5325 THEN TAKE SHORT POSITON FOR A TARGET OF 5200 AND THEN BREAK BELOW THIS LEVEL WOULD FURTHER BREACH NIFTY TO 5257. STAY CATIOUS AT HIGHER LEVELS
BUY LIBERTY PHOSPHAT SL 37.9 TGT 39.6/40.4/41.9 *
BUY ICICIBANK SL 895 TGT 915/922/930
BUY VIPIND SL 293 TGT 307/317/330 (MEDIUM TERM 360/ 400)*
BUY BANKRAJAS SL 173 TGT 179/183/186
BUY FCH SL 203 TGT 212/217/226*
BUY VOLTAS SL 195 TGT 199/202/205*
BUY FIEM IND TGT 186/197/226*
POSITIONAL TRADES
BUY RAMA PHOSPHATED LTD TGT 45
