GOOD MORNING!!!
KEY BENCHMARK INDICES SLUMPED TO INTRADAY LOWS FOLLOWING THE DECLINE IN EUROPE AND US STOCKS AND INDEX FUTURES. THE MAJOR TRIGGER IN THE MARKET WHICH WAS BEYOND THE EXPECTATION OF COMMON MAN WAS DECONTROLING OF OIL AND GAS PRICES. OIL AND GAS STOCKS SURGED LIKE A ROCKET SOON AFTER THE GOVERNMENT FREE PETROL PRICES IT IS ALSO SAID THAT GOVERNMENT WILL EVENTUALLY DECONTROL DIESEL PRICES TOO. AUTO SOME OF THE AUTO SHARES FELL ON WORRIES OF THE LATEST GOVERNMENT DECISION ON FUEL PRICE INCREASE. BANKING STOCKS TOO NOSE DIVED ON THE INFLATION CONCERNS OVER THE PETROL PRICE HIKE DECISION. ALL IN ALL THE MARKET BREADTH WAS WEAK.
TODAY MARKETS WOULD REMAIN NEGATIVE ON THE CONCERNS OF INFLATOR CONCERNS. TODAY IF NIFTY TRADES BELOW 5276 THEN LIKELY TO COME DOWN TO 5240 AND THEN TO 5204 AND BELOW 5200 ITS WEAKNESS WOULD PERSIST FURTHER AND ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5310 THEN LIKLEY TO MAKE AN UPMOVE TO 5354 AND THEN TO 5400 LEVELS. NIFTY ON THE POSITIONAL FRONT STILL REMAINS STRONG AND LIKLEY TO MAKE AN UPMOVE ANY POSITIVE TRIGGERS FROM MANSOONS WOULD TAKE NIFTY TO NEW HIGHS OF THE YEAR. ONE CAN SEE PETROLEUM STOCKS TO MOVE POSITIVE. PHARMA AND IT REMAINS BULLISH.
BUY HINDPETRO SL 397 TGT 410/421/438
BUY IOC SL 377 TGT 398/411/420
BUY BPCL SL 618 TGT 637/650/673
BUY AMTEKAUTO SL 177 TGT 180/183/186
BUY APIL SL 659 TGT 679/689/708
BUY MRPL SL 72 TGT 75//76.5/77.5
BUY ESSAR OIL SL 136 TGT 142/144/149
POSITIONAL TRADES
BUY SURYAPHARM TGT 226
BUY SUTLEJTEX TGT 208
BUY PROVOGUE @55 TGT 69
BUY CCL TGT 250/280
BUY MSP STEEL & POWER LTD @42.15 TGT 53/59
BUY PRECOT MERIDIAN LTD TGT 286
BUY GHCL @ 48.10 TGT 55/61
BUY SANWARIA AGRO OILS @ 45.90 TGT 58
BUY LUMAXIND TGT 355
KEY BENCHMARK INDICES SLUMPED TO INTRADAY LOWS FOLLOWING THE DECLINE IN EUROPE AND US STOCKS AND INDEX FUTURES. THE MAJOR TRIGGER IN THE MARKET WHICH WAS BEYOND THE EXPECTATION OF COMMON MAN WAS DECONTROLING OF OIL AND GAS PRICES. OIL AND GAS STOCKS SURGED LIKE A ROCKET SOON AFTER THE GOVERNMENT FREE PETROL PRICES IT IS ALSO SAID THAT GOVERNMENT WILL EVENTUALLY DECONTROL DIESEL PRICES TOO. AUTO SOME OF THE AUTO SHARES FELL ON WORRIES OF THE LATEST GOVERNMENT DECISION ON FUEL PRICE INCREASE. BANKING STOCKS TOO NOSE DIVED ON THE INFLATION CONCERNS OVER THE PETROL PRICE HIKE DECISION. ALL IN ALL THE MARKET BREADTH WAS WEAK.
TODAY MARKETS WOULD REMAIN NEGATIVE ON THE CONCERNS OF INFLATOR CONCERNS. TODAY IF NIFTY TRADES BELOW 5276 THEN LIKELY TO COME DOWN TO 5240 AND THEN TO 5204 AND BELOW 5200 ITS WEAKNESS WOULD PERSIST FURTHER AND ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5310 THEN LIKLEY TO MAKE AN UPMOVE TO 5354 AND THEN TO 5400 LEVELS. NIFTY ON THE POSITIONAL FRONT STILL REMAINS STRONG AND LIKLEY TO MAKE AN UPMOVE ANY POSITIVE TRIGGERS FROM MANSOONS WOULD TAKE NIFTY TO NEW HIGHS OF THE YEAR. ONE CAN SEE PETROLEUM STOCKS TO MOVE POSITIVE. PHARMA AND IT REMAINS BULLISH.
BUY HINDPETRO SL 397 TGT 410/421/438
BUY IOC SL 377 TGT 398/411/420
BUY BPCL SL 618 TGT 637/650/673
BUY AMTEKAUTO SL 177 TGT 180/183/186
BUY APIL SL 659 TGT 679/689/708
BUY MRPL SL 72 TGT 75//76.5/77.5
BUY ESSAR OIL SL 136 TGT 142/144/149
POSITIONAL TRADES
BUY SURYAPHARM TGT 226
BUY SUTLEJTEX TGT 208
BUY PROVOGUE @55 TGT 69
BUY CCL TGT 250/280
BUY MSP STEEL & POWER LTD @42.15 TGT 53/59
BUY PRECOT MERIDIAN LTD TGT 286
BUY GHCL @ 48.10 TGT 55/61
BUY SANWARIA AGRO OILS @ 45.90 TGT 58
BUY LUMAXIND TGT 355
