GOOD MORNING!!!
INDICES EXTENDED LOSSES TO HIT FRESH LOWS IN LATE INTRADAY TRADE TRACKING WEAK GLOBAL CUES. MARKET MOVED IN A NARROW RANGE UNTIL THE MID AFTERNOON BUT IN THE LAST HOUR OF TRADE SHRUGGED OFF EVERYTHING WHICH WAS RECOVERED AND HAS NOSE DIVED FURTHER. INDEX HEAVY WEIGHTS RELIANCE SLUMPED ALONG WITH BANKING, AUTO, REALITY AND METALS. MARKET BREADTH INDICATING THE STRENGTH OF THE MARKET TURNED NEGATIVE WHEN COMPARED TO EARLIER DAY. MARKET CLOSED AT A VERY CRUCIAL ZONE ABOVE 5240 WHICH SHOWS THAT THE BREADTH OF THE MARKET STILL REMAINS POSITIVE ON A POSITIONAL FRONT.
TODAY IF NIFTY TRADES ABOVE 5275 THEN LIKLEY TO GAIN MOMENTUM AND HIT 5320 LEVELS AND ANY TRADE ABOVE 5350 WOULD TAKE NIFTY TO 5400 AND ANY CLOSE ABOVE 5300 IS CONSIDERED TO BE VERY BULLISH AND WE MAY HEAD TOWARDS BREACHING THE RECENT HIGHS OF THE YEAR. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5240 THEN LIKELY TO DIP DOWN TO 5200 AND BELOW THIS LEVEL IT WOULD BREACH DOWN TO 5165 LEVELS. ANY CLOSE BELOW 5200 IS CONSIDERED TO BE WEAK ONE CAN STAY INVESTED ABOVE 5240 AND EXIT POSITIONS BELOW 5240 AND SHORT BELOW 5200 LEVELS. THOUGH WE DON’T EXPECT MARKET TO SLIDE DOWN BELOW 5240 WE FORESEE MARKETS TO MOVE BEYOND YEAR HIGHS.
BUY IFCI SL 57.45 TGT 59/60/61
BUY EVERONN SL 504 TGT 529/547/556
BUY RELCAPITAL SL 759 TGT 767/778/783 (MEDIUM TERM 1000)
BUY INDIANB SL 237 TGT 242/247/251
BUY PANTALOONR SL 463 TGT 472/479/490
BUY SOBHA SL 306 TGT 312/317/321 (MEDIUM TERM 345)
BUY VIVIMED LAB SL 179 TGT 187/191/194
BUY SREI INFRA SL 82.4 TGT 85/86.7/87.6
POSITIONAL TRADES
BUY SHOPERSTOP SL 618 TGT 850/1050
BUY IND SWIFT LAB TGT 100/150/200
INDICES EXTENDED LOSSES TO HIT FRESH LOWS IN LATE INTRADAY TRADE TRACKING WEAK GLOBAL CUES. MARKET MOVED IN A NARROW RANGE UNTIL THE MID AFTERNOON BUT IN THE LAST HOUR OF TRADE SHRUGGED OFF EVERYTHING WHICH WAS RECOVERED AND HAS NOSE DIVED FURTHER. INDEX HEAVY WEIGHTS RELIANCE SLUMPED ALONG WITH BANKING, AUTO, REALITY AND METALS. MARKET BREADTH INDICATING THE STRENGTH OF THE MARKET TURNED NEGATIVE WHEN COMPARED TO EARLIER DAY. MARKET CLOSED AT A VERY CRUCIAL ZONE ABOVE 5240 WHICH SHOWS THAT THE BREADTH OF THE MARKET STILL REMAINS POSITIVE ON A POSITIONAL FRONT.
TODAY IF NIFTY TRADES ABOVE 5275 THEN LIKLEY TO GAIN MOMENTUM AND HIT 5320 LEVELS AND ANY TRADE ABOVE 5350 WOULD TAKE NIFTY TO 5400 AND ANY CLOSE ABOVE 5300 IS CONSIDERED TO BE VERY BULLISH AND WE MAY HEAD TOWARDS BREACHING THE RECENT HIGHS OF THE YEAR. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5240 THEN LIKELY TO DIP DOWN TO 5200 AND BELOW THIS LEVEL IT WOULD BREACH DOWN TO 5165 LEVELS. ANY CLOSE BELOW 5200 IS CONSIDERED TO BE WEAK ONE CAN STAY INVESTED ABOVE 5240 AND EXIT POSITIONS BELOW 5240 AND SHORT BELOW 5200 LEVELS. THOUGH WE DON’T EXPECT MARKET TO SLIDE DOWN BELOW 5240 WE FORESEE MARKETS TO MOVE BEYOND YEAR HIGHS.
BUY IFCI SL 57.45 TGT 59/60/61
BUY EVERONN SL 504 TGT 529/547/556
BUY RELCAPITAL SL 759 TGT 767/778/783 (MEDIUM TERM 1000)
BUY INDIANB SL 237 TGT 242/247/251
BUY PANTALOONR SL 463 TGT 472/479/490
BUY SOBHA SL 306 TGT 312/317/321 (MEDIUM TERM 345)
BUY VIVIMED LAB SL 179 TGT 187/191/194
BUY SREI INFRA SL 82.4 TGT 85/86.7/87.6
POSITIONAL TRADES
BUY SHOPERSTOP SL 618 TGT 850/1050
BUY IND SWIFT LAB TGT 100/150/200
