GOOD MORNING!!!
INDICES LOST ITS HOLD IN LATE TRADE TO HIT FRESH INTRADAY LOWS AS INVESTORS HAVE RESORTED TO PROFIT TAKING ON ACCOUNT OF WEEKEND. EARLIER IN THE DAY THE BREADTH OF THE MARKET WAS STRONG AND LATER GONE WEAK, BANKING, REALITY AND METAL STOCKS FELL. NOW THE NEXT TRIGGER IN THE MARKET WOULD BE THE MANSOONS, INVESTORS WOULD CLOSELY WATCH THE PROGRESS OF THE MANSOONS. THE MAJOR CONCERN IS THE MANSOON WAS 16% BELOW THE NORMAL IN JUNE 2010. THE HAS GONE WORST IN THE CENTRAL AND NORTH-WEST REGIONS OF THE COUNTRY WITH DEFICIENCIES OF 26% AND 18% RESPECTIVELY.
TODAY NIFTY MAY OPEN NEGATIVE ON ACCOUNT OF RBI’S NEW POLICY TOWARDS HIKE IN BASE RATES, BUT WOULD RECOVER AFTER INITIAL SLIDE AS THE RATE HIKE IS MUCH BELOW THE EXPECTATIONS OF THE MARKET. WE MAY SEE LOT OF ACTIVITY TO TAKE PLACE IN THE COUNTERS LIKE RNRL AND RPOWER WITH THE ONGOING ISSUE OF DEMERGER. TODAY IF NIFTY TRADES BELOW 5240 THEN LIKELY TO DIP DOWN TO 5206 LEVELS AND BREAK BELOW 5200 WOULD TAKE NIFTY TO 5167 LEVELS AND ANY CLOSE BELOW 5200 IS CONSIDERED TO BE WEAK CLOSING FOR THE MARKETS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5275 THEN LIKELY TO MAKE AN UPMOVE TO 5300 AND THEN TO 5350 LEVELS AND ANY CLOSE ABOVE 5300 IS CONSIDERED TO BE POSITIVE AND HEALTHLY SIGN FOR THE MARKETS AHEAD.
BUY RPOWER SL 175 TGT 178/182/185 (MEDIUM TERM 200/285)
BUY ENGINERSIN SL 357 TGT 373/389/400
BUY GNFC SL 111 TGT 118/121/125
BUY PERSISTENT SYSTEM LTD SL 471 TGT 492/512/527 (MEDIUM TERM 625)
BUY MONET ISPAT SL 462 TGT 488/512/527 (MEDIUM TERM 600)
BUY KFA SL 48 TGT 52/54/56
POSITIONAL TRADES
BUY IGL 335/450
INDICES LOST ITS HOLD IN LATE TRADE TO HIT FRESH INTRADAY LOWS AS INVESTORS HAVE RESORTED TO PROFIT TAKING ON ACCOUNT OF WEEKEND. EARLIER IN THE DAY THE BREADTH OF THE MARKET WAS STRONG AND LATER GONE WEAK, BANKING, REALITY AND METAL STOCKS FELL. NOW THE NEXT TRIGGER IN THE MARKET WOULD BE THE MANSOONS, INVESTORS WOULD CLOSELY WATCH THE PROGRESS OF THE MANSOONS. THE MAJOR CONCERN IS THE MANSOON WAS 16% BELOW THE NORMAL IN JUNE 2010. THE HAS GONE WORST IN THE CENTRAL AND NORTH-WEST REGIONS OF THE COUNTRY WITH DEFICIENCIES OF 26% AND 18% RESPECTIVELY.
TODAY NIFTY MAY OPEN NEGATIVE ON ACCOUNT OF RBI’S NEW POLICY TOWARDS HIKE IN BASE RATES, BUT WOULD RECOVER AFTER INITIAL SLIDE AS THE RATE HIKE IS MUCH BELOW THE EXPECTATIONS OF THE MARKET. WE MAY SEE LOT OF ACTIVITY TO TAKE PLACE IN THE COUNTERS LIKE RNRL AND RPOWER WITH THE ONGOING ISSUE OF DEMERGER. TODAY IF NIFTY TRADES BELOW 5240 THEN LIKELY TO DIP DOWN TO 5206 LEVELS AND BREAK BELOW 5200 WOULD TAKE NIFTY TO 5167 LEVELS AND ANY CLOSE BELOW 5200 IS CONSIDERED TO BE WEAK CLOSING FOR THE MARKETS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5275 THEN LIKELY TO MAKE AN UPMOVE TO 5300 AND THEN TO 5350 LEVELS AND ANY CLOSE ABOVE 5300 IS CONSIDERED TO BE POSITIVE AND HEALTHLY SIGN FOR THE MARKETS AHEAD.
BUY RPOWER SL 175 TGT 178/182/185 (MEDIUM TERM 200/285)
BUY ENGINERSIN SL 357 TGT 373/389/400
BUY GNFC SL 111 TGT 118/121/125
BUY PERSISTENT SYSTEM LTD SL 471 TGT 492/512/527 (MEDIUM TERM 625)
BUY MONET ISPAT SL 462 TGT 488/512/527 (MEDIUM TERM 600)
BUY KFA SL 48 TGT 52/54/56
POSITIONAL TRADES
BUY IGL 335/450
