GOOD MORNING!!!
INDICES HIT FRESH INTRADAY HIT LOWS IN THE LATE TRADE AS EUROPEAN STOCKS TURNED SOUR. BANKING STOCKS DIDN’T REALLY MIND THE UNEXPECTED RATE HIKE AS THE EXPECTATION WAS MUCH LESSER THAN WHAT WAS ANTICIPATED IN THE MONTH END. METALS, REALITY AND PSU’S WERE THE WORST HIT IN THE TRADE. THOUGH THE MARKET WAS NEGATIVE THERE WAS SOME BUYING WITNESSED IN SELECT MID CAPS AND SMALL CAPS THE VOLUMES WERE MUCH LOWER ON ACCOUNT OF BHARAT BHANDH. MARKET TRADED IN A TIGHT RANGE AND REMAINED NEGATIVE MOST OF THE DAY. MANSOONS RAINS HAVE REVIVED AFTER WEAK RAINS LAST MONTH, RAINS HAVE ADVANCED AND HAS FORECAST TO PROGRESS FURTHER. AND SHORTFALL HAS NARROWED AND WOULD BE BETTER IN THE COMING DAYS THIS WILL ENABLE THE MARKETS TO GROW MUCH HIGHER AND BREACH ALL THE BARRIERS OF THE MARKET IN THE DAYS AHEAD.
TODAY MARKETS WOULD OPEN NEGATIVE ON GLOBAL CUES AND THERE WOULD BE STOCK SPECIFIC MOVES IN THE MARKET. IF NIFTY TRADES ABOVE 5265 THEN WILL TAKE-OFF TO 5300 AND THERE AFTER ANY TRADE ABOVE THIS POINT WOULD TAKE IT TO 5350 LEVELS AND ANY CLOSING ABOVE 5300 IS A CALL FOR FRESH BUY. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5240 THEN LIKELY TO COME DOWN TO 5220 AND BREAK BELOW THIS LEVEL WOULD TAKE IT TO 5206 AND ANY BREAK BELOW 5200 WOULD LIKELY TO PUT PRESSURE IN THE INDICES AND DRAG IT TO 5160 LEVELS AND ANY BREAK BELOW 5200 IS WEAK FOR THE MARKETS AND IS A CALL FOR SHORTING AND BELOW 5240 IS BETTER TO STAY AWAY ON THE CLOSING BASIS. AGRO SECTOR IS A GOOD BET FOR COMING DAYS
BUY EDSERV SL 215 TGT 226/235/242
BUY JUBL FOOD SL 330 TGT 340/349/356*
BUY FIEM INDS SL 173 TGT 184/194/200*
BUY HERITAGE FOODS 189 TGT 200/211/217*
BUY KARUR VYSYA BANK SL 577 TGT 601/625/638*
BUY INOX SL 63.5 TGT 66/67.5/68.6
BUY RCF SL 89 TGT 92/93.5/95
POSITIONAL TRADES
BUY POLARIS TGT 200/215
BUY BAJAJ AUTO FINANCE TGT 585/660
BUY BOMBAY DYEING TGT 775
INDICES HIT FRESH INTRADAY HIT LOWS IN THE LATE TRADE AS EUROPEAN STOCKS TURNED SOUR. BANKING STOCKS DIDN’T REALLY MIND THE UNEXPECTED RATE HIKE AS THE EXPECTATION WAS MUCH LESSER THAN WHAT WAS ANTICIPATED IN THE MONTH END. METALS, REALITY AND PSU’S WERE THE WORST HIT IN THE TRADE. THOUGH THE MARKET WAS NEGATIVE THERE WAS SOME BUYING WITNESSED IN SELECT MID CAPS AND SMALL CAPS THE VOLUMES WERE MUCH LOWER ON ACCOUNT OF BHARAT BHANDH. MARKET TRADED IN A TIGHT RANGE AND REMAINED NEGATIVE MOST OF THE DAY. MANSOONS RAINS HAVE REVIVED AFTER WEAK RAINS LAST MONTH, RAINS HAVE ADVANCED AND HAS FORECAST TO PROGRESS FURTHER. AND SHORTFALL HAS NARROWED AND WOULD BE BETTER IN THE COMING DAYS THIS WILL ENABLE THE MARKETS TO GROW MUCH HIGHER AND BREACH ALL THE BARRIERS OF THE MARKET IN THE DAYS AHEAD.
TODAY MARKETS WOULD OPEN NEGATIVE ON GLOBAL CUES AND THERE WOULD BE STOCK SPECIFIC MOVES IN THE MARKET. IF NIFTY TRADES ABOVE 5265 THEN WILL TAKE-OFF TO 5300 AND THERE AFTER ANY TRADE ABOVE THIS POINT WOULD TAKE IT TO 5350 LEVELS AND ANY CLOSING ABOVE 5300 IS A CALL FOR FRESH BUY. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5240 THEN LIKELY TO COME DOWN TO 5220 AND BREAK BELOW THIS LEVEL WOULD TAKE IT TO 5206 AND ANY BREAK BELOW 5200 WOULD LIKELY TO PUT PRESSURE IN THE INDICES AND DRAG IT TO 5160 LEVELS AND ANY BREAK BELOW 5200 IS WEAK FOR THE MARKETS AND IS A CALL FOR SHORTING AND BELOW 5240 IS BETTER TO STAY AWAY ON THE CLOSING BASIS. AGRO SECTOR IS A GOOD BET FOR COMING DAYS
BUY EDSERV SL 215 TGT 226/235/242
BUY JUBL FOOD SL 330 TGT 340/349/356*
BUY FIEM INDS SL 173 TGT 184/194/200*
BUY HERITAGE FOODS 189 TGT 200/211/217*
BUY KARUR VYSYA BANK SL 577 TGT 601/625/638*
BUY INOX SL 63.5 TGT 66/67.5/68.6
BUY RCF SL 89 TGT 92/93.5/95
POSITIONAL TRADES
BUY POLARIS TGT 200/215
BUY BAJAJ AUTO FINANCE TGT 585/660
BUY BOMBAY DYEING TGT 775
