GOOD MORNING!!!
INDICES AS EXPECTED OPENED NEGATIVE BUT REGAINED INTO POSITIVE TERRITORY SOON AFTER TRACKING ASIAN STOCKS RECOVERY AND CONTINUED THE RALLY TO HIT INTRADAY HIGHS AND SOON AFTER TRACKING EUROPEAN MARKETS MARKETS HAVE FURTHER STRENGTHENED AND HIT THE HIGHS OF THE DAY BUT COULD NOT HOLD THE GAINS AT THE END AS INDEX HEAVYWEIGHT RELIANCE INDUSTRIES GAVE AWAY ITS GAINS. SENTIMENT OF INVESTORS ALSO BOOSTED WITH THE REVIVAL OF MANSOON RAINS IN THE PAST FEW DAYS AFTER WEAK RAINS LAST MONTH, THE DEFICIENCY OF RAINFALL HAS ALSO NARROWED DOWN. OVERALL MARKET BREADTH WAS STRONG AND ALL THE SECTORAL INDICES WERE IN GREEN. AFTER MANSOONS THE NEXT MAJOR TRIGGER IN THE MARKET WOULD BE THE RESULTS WHICH WOULD START ITS INFLOW IN THE MARKET BY THE SECOND WEEK OF THIS MONTH, IT IS EXPECTED TO BE ROBUST SINCE THE ADVANCE TAX COLLECTIONS FOR THE QUARTER POINT TO STRONG GROWTH IN THE CORPORATE SECTOR PROFITS.
TODAY MARKETS WOULD OPEN FLAT AND RANGE BOUND, BUT STRENGTH REMAINS INTACT. IF NIFTY TRADES ABOVE 5300 THEN LIKLEY TO MAKE AN UPMOVE TO 5350 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE TO PREVIOUS HIGHS OF THE YEAR. ON THE NEGATIVE SIDE IF NIFTY 5290 THEN LIKELY TO DIP DOWN TO 5260 AND BREAK BELOW THIS LEVEL WOULD TAKE SUPPORT AT 5240 AND ANY BREAK BELOW THIS POINT WOULD BE WEAK AND CAN DRAG NIFTY TO 5204 LEVELS.
BUY HINDOILEXP ABOVE 240 SL 237 TGT 244/250/254
BUY KTKBANK SL 180 TGT 184.5/187.8/190.5
BUY POLARIS SL 191 TGT 195/197/199
BUY BOMDYEING SL 509 TGT 522/531/538
BUY ROLTA SL 173 TGT 176/179/181.8
POSITIONAL TRADES
BUY BANKINDIA TGT 400/440/490
BUY SWARAJ MAZDA TGT 450/600
INDICES AS EXPECTED OPENED NEGATIVE BUT REGAINED INTO POSITIVE TERRITORY SOON AFTER TRACKING ASIAN STOCKS RECOVERY AND CONTINUED THE RALLY TO HIT INTRADAY HIGHS AND SOON AFTER TRACKING EUROPEAN MARKETS MARKETS HAVE FURTHER STRENGTHENED AND HIT THE HIGHS OF THE DAY BUT COULD NOT HOLD THE GAINS AT THE END AS INDEX HEAVYWEIGHT RELIANCE INDUSTRIES GAVE AWAY ITS GAINS. SENTIMENT OF INVESTORS ALSO BOOSTED WITH THE REVIVAL OF MANSOON RAINS IN THE PAST FEW DAYS AFTER WEAK RAINS LAST MONTH, THE DEFICIENCY OF RAINFALL HAS ALSO NARROWED DOWN. OVERALL MARKET BREADTH WAS STRONG AND ALL THE SECTORAL INDICES WERE IN GREEN. AFTER MANSOONS THE NEXT MAJOR TRIGGER IN THE MARKET WOULD BE THE RESULTS WHICH WOULD START ITS INFLOW IN THE MARKET BY THE SECOND WEEK OF THIS MONTH, IT IS EXPECTED TO BE ROBUST SINCE THE ADVANCE TAX COLLECTIONS FOR THE QUARTER POINT TO STRONG GROWTH IN THE CORPORATE SECTOR PROFITS.
TODAY MARKETS WOULD OPEN FLAT AND RANGE BOUND, BUT STRENGTH REMAINS INTACT. IF NIFTY TRADES ABOVE 5300 THEN LIKLEY TO MAKE AN UPMOVE TO 5350 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE TO PREVIOUS HIGHS OF THE YEAR. ON THE NEGATIVE SIDE IF NIFTY 5290 THEN LIKELY TO DIP DOWN TO 5260 AND BREAK BELOW THIS LEVEL WOULD TAKE SUPPORT AT 5240 AND ANY BREAK BELOW THIS POINT WOULD BE WEAK AND CAN DRAG NIFTY TO 5204 LEVELS.
BUY HINDOILEXP ABOVE 240 SL 237 TGT 244/250/254
BUY KTKBANK SL 180 TGT 184.5/187.8/190.5
BUY POLARIS SL 191 TGT 195/197/199
BUY BOMDYEING SL 509 TGT 522/531/538
BUY ROLTA SL 173 TGT 176/179/181.8
POSITIONAL TRADES
BUY BANKINDIA TGT 400/440/490
BUY SWARAJ MAZDA TGT 450/600
