GOOD MORNING!!!
THE DOMESTIC EQUITY MARKETS REMAINED SLUGGISH FOR THE ENTIRE TRADES AS THE IMPACT OF THE BIG DIP IN THE WEEKLY FOOD PRICE INFLATION WAS OFFSET BY GAP-DOWN START FOR EUROPEAN SHARES. THE REGIONAL PEERS ALSO CONTINUED TO LANGUISH IN THE RED. INDICES WERE OSCILLATING IN A NARROW RANGE. THE ENTIRE SECTORAL INDICES WERE IN RED, THE BREADTH OF THE MARKET REMAINED NEGATIVE FOR THE ENTIRE DAY AND THERE WAS NO SPACE OF RECOVERY SEEN IN THE MARKETS.
TODAY WE MAY SEE MARKETS TO REMAIN FLAT AND RANGE BOUND, IF NIFTY TRADES BELOW 5240 THEN LIKELY TO COME DOWN TO 5200 AND BELOW THIS POINT NIFTY WOULD BECOME VERY WEAK AND ON IS ADVISED TO STAY INVESTED IF NIFTY IS CLOSING ABOVE 5200 MARK AND ANY CLOSE BELOW 5200 COULD BE DANGEROUS HOLDING LOT OF POSITIONS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5275 ONE CAN TAKE LONG POSITIONS FOR A TARGET OF 5300 AND ABOVE 5320 LIKELY TO MAKE AN UPMOVE TO 5350 LEVELS AND ANY CLOSE ABOVE 5300 IS CONSIDERED TO BE STRONG IN NIFTY POINT OF VIEW AND IF NIFTY CLOSES ABOVE 5240 IS ALSO A HEALTHY SIGN.
BUY RELIANCE MEDIA SL 222 TGT 238/243/247
BANKINDIA SL 355 TGT 363/367/370 (MEDIUM TERM 395)
BUY IFCI SL 55 TGT 58.5/59.4/60.6
MCSOUTHBANK SL 169 TGT 172/174/176 (MEDIUM TERM 184)
THE DOMESTIC EQUITY MARKETS REMAINED SLUGGISH FOR THE ENTIRE TRADES AS THE IMPACT OF THE BIG DIP IN THE WEEKLY FOOD PRICE INFLATION WAS OFFSET BY GAP-DOWN START FOR EUROPEAN SHARES. THE REGIONAL PEERS ALSO CONTINUED TO LANGUISH IN THE RED. INDICES WERE OSCILLATING IN A NARROW RANGE. THE ENTIRE SECTORAL INDICES WERE IN RED, THE BREADTH OF THE MARKET REMAINED NEGATIVE FOR THE ENTIRE DAY AND THERE WAS NO SPACE OF RECOVERY SEEN IN THE MARKETS.
TODAY WE MAY SEE MARKETS TO REMAIN FLAT AND RANGE BOUND, IF NIFTY TRADES BELOW 5240 THEN LIKELY TO COME DOWN TO 5200 AND BELOW THIS POINT NIFTY WOULD BECOME VERY WEAK AND ON IS ADVISED TO STAY INVESTED IF NIFTY IS CLOSING ABOVE 5200 MARK AND ANY CLOSE BELOW 5200 COULD BE DANGEROUS HOLDING LOT OF POSITIONS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5275 ONE CAN TAKE LONG POSITIONS FOR A TARGET OF 5300 AND ABOVE 5320 LIKELY TO MAKE AN UPMOVE TO 5350 LEVELS AND ANY CLOSE ABOVE 5300 IS CONSIDERED TO BE STRONG IN NIFTY POINT OF VIEW AND IF NIFTY CLOSES ABOVE 5240 IS ALSO A HEALTHY SIGN.
BUY RELIANCE MEDIA SL 222 TGT 238/243/247
BANKINDIA SL 355 TGT 363/367/370 (MEDIUM TERM 395)
BUY IFCI SL 55 TGT 58.5/59.4/60.6
MCSOUTHBANK SL 169 TGT 172/174/176 (MEDIUM TERM 184)
