GOOD MORNING!!!
MARKETS WITNESSED HIGH VOLATILITY IN THE LATE TRADE WITH TRADERS ROLLING THEIR POSITIONS FROM THE CURRENT MONTH TO THE NEXT MONTH CONTRACTS, WEAKNESS IN GLOBAL STOCKS CAUSED BY US FEDERAL RESERVES MORE DOWNBEAT LANGUAGE ON ECONOMIC GROWTH IN THE WORLDS BIGGEST ECONOMY WEIGHTED ON INVESTORS SENTIMENTS. BANKING, IT AND AUTO STOCKS FELL. VOLATILITY WAS VERY HIGH DURING INTRADAY, MARKET DIDN’T CONSIDER THE GLOBAL INDICIES EARLY IN THE MORNING AND MANAGED TO POST GAINS IN THE OPENING SESSION BUT COULD NOT WITHSTAND AS THE DAY WENT BY WITH EUROPE TURNING VERY NEGATIVE.
TODAY MARKETS WOULD BE NEGATIVELY BIASED AND RANGE BOUND AND WOULD LIVE IN A CONSOLIDATION PHASE, THE NEGATIVITY OF WORLD MARKETS WOULD SHOW SOME IMPACT ON OUR MARKETS. TODAY ONE IS ADVISED TO GO LONG IF NIFTY TRADES ABOVE 5350 THEN LIKELY TO MOVE UP TO 5373 AND BREAK ABOVE THIS POINT WOULD TAKE IT TO 5400 AND ANY CLOSE ABOVE 5400 WOULD TAKE NIFTY TO NEW HIGHS OF THE YEAR. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5224 THEN LIKLEY TO COME DOWN TO 5300 AND ANY BREAK BELOW THIS POINT WOULD DRAG NIFTY TO 5257 AND THEN BELOW THIS POINT 5204. KEEP A WATCH ON TEXTILES. ON THE MEDIUM TERM KEEP A LOOK AT PHARMA AND IT.
BUY HINDOILEXP SL 221.9 TGT 230/239/245
BUY NAGARCONST SL 192 TGT 195/197/200
BUY PIRHEALTH SL 142 TGT 145/147/149
BUY BANKINDIA SL 347.7 TGT 351/355/357.8
BUY BRFL SL 254 TGT 260/266/270 (MEDIUM TERM TGT 300/385)
BUY GODREJIND SL 169.7 TGT 174/179/182 (MEDIUM TERM TGT 200)
MARKETS WITNESSED HIGH VOLATILITY IN THE LATE TRADE WITH TRADERS ROLLING THEIR POSITIONS FROM THE CURRENT MONTH TO THE NEXT MONTH CONTRACTS, WEAKNESS IN GLOBAL STOCKS CAUSED BY US FEDERAL RESERVES MORE DOWNBEAT LANGUAGE ON ECONOMIC GROWTH IN THE WORLDS BIGGEST ECONOMY WEIGHTED ON INVESTORS SENTIMENTS. BANKING, IT AND AUTO STOCKS FELL. VOLATILITY WAS VERY HIGH DURING INTRADAY, MARKET DIDN’T CONSIDER THE GLOBAL INDICIES EARLY IN THE MORNING AND MANAGED TO POST GAINS IN THE OPENING SESSION BUT COULD NOT WITHSTAND AS THE DAY WENT BY WITH EUROPE TURNING VERY NEGATIVE.
TODAY MARKETS WOULD BE NEGATIVELY BIASED AND RANGE BOUND AND WOULD LIVE IN A CONSOLIDATION PHASE, THE NEGATIVITY OF WORLD MARKETS WOULD SHOW SOME IMPACT ON OUR MARKETS. TODAY ONE IS ADVISED TO GO LONG IF NIFTY TRADES ABOVE 5350 THEN LIKELY TO MOVE UP TO 5373 AND BREAK ABOVE THIS POINT WOULD TAKE IT TO 5400 AND ANY CLOSE ABOVE 5400 WOULD TAKE NIFTY TO NEW HIGHS OF THE YEAR. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5224 THEN LIKLEY TO COME DOWN TO 5300 AND ANY BREAK BELOW THIS POINT WOULD DRAG NIFTY TO 5257 AND THEN BELOW THIS POINT 5204. KEEP A WATCH ON TEXTILES. ON THE MEDIUM TERM KEEP A LOOK AT PHARMA AND IT.
BUY HINDOILEXP SL 221.9 TGT 230/239/245
BUY NAGARCONST SL 192 TGT 195/197/200
BUY PIRHEALTH SL 142 TGT 145/147/149
BUY BANKINDIA SL 347.7 TGT 351/355/357.8
BUY BRFL SL 254 TGT 260/266/270 (MEDIUM TERM TGT 300/385)
BUY GODREJIND SL 169.7 TGT 174/179/182 (MEDIUM TERM TGT 200)
