GOOD MORNING!!!
INDICES HAVE GIVEN UP SOME OF ITS GAINS IN THE LATER PART OF THE DAY AS US INDEX FUTURES WERE TRADING IN NEGATIVE ZONES AFTER A STRONG INTRADAY RALLY. THIS RALLY WAS BOOSTED TRACKING STRONG CLOSING OF US INDEX FUTURES ON THE PREVIOUS DAY ALONG WITH IT ALL THE OTHER ASIAN INDICES HAVE ADDED FUEL TO THE INDIAN MARKETS TO SURGE TO THE NEW HIGHS ON INTRADAY TERMS. MARKETS HELD FIRM TILL AFTERNOON BUT GAVE UP AFTER THE INFLATION ROSE TO NEW HIGHS AND EUROPEAN STOCKS TRADING SLIGHTLY NEGATIVE. OVERALL HEALTH OF THE MARKET REMAINED BULLISH.
TODAY MARKETS WOULD BE IN A NARROW RANGE BAND. IF NIFTY TRADES ABOVE 5320 THEN LIKELY TO MAKE AN UPMOVE TO 5350 AND THEN TO 5400 LEVELS BUT ONE IS ADVISED TO STAY CAUTIOUS AT HIGHER LEVELS UNTIL 5400 IS BREACHED, IF 5400 IS BREACHED IN NIFTY THEN IT’S A STRONG INDICATION THAT MARKETS WOULD TRAVEL MUCH HIGHER THAN ANTICIPATED AND WOULD TOUCH IN A VERY SHORT SPAN OF TIME 5500 AND THEN TO 5700 LEVELS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5300 THEN LIKLEY TO MAKE A NOSE DIVE TO 5240 LEVELS. ON IS ADVISED TO EXIT POSITIONS BELOW 5240 AND BELOW 5200 ONE IS ADVISED TO SHORT. OIL STOCKS LOOKING VERY BULLISH ALONG WITH IT IN THE NEAR TERM.
BUY HINDPETRO SL 475 TGT 483/490/495
BUY IBREALEST SL 158 TGT 161/163/165 (MEDIUM TERM 185)*
BUY BPCL SL 695 TGT 715/729/738
BUY GODREJIND SL 175 TGT 180/183/185
BUY JETAIRWAYS SL 557 TGT 570/575/587
BUY AMTEKAUTO SL 187 TGT 191.5/195.5/198
POSTIONAL TRADES
BUY MCLEODRUSS TGT 388
INDICES HAVE GIVEN UP SOME OF ITS GAINS IN THE LATER PART OF THE DAY AS US INDEX FUTURES WERE TRADING IN NEGATIVE ZONES AFTER A STRONG INTRADAY RALLY. THIS RALLY WAS BOOSTED TRACKING STRONG CLOSING OF US INDEX FUTURES ON THE PREVIOUS DAY ALONG WITH IT ALL THE OTHER ASIAN INDICES HAVE ADDED FUEL TO THE INDIAN MARKETS TO SURGE TO THE NEW HIGHS ON INTRADAY TERMS. MARKETS HELD FIRM TILL AFTERNOON BUT GAVE UP AFTER THE INFLATION ROSE TO NEW HIGHS AND EUROPEAN STOCKS TRADING SLIGHTLY NEGATIVE. OVERALL HEALTH OF THE MARKET REMAINED BULLISH.
TODAY MARKETS WOULD BE IN A NARROW RANGE BAND. IF NIFTY TRADES ABOVE 5320 THEN LIKELY TO MAKE AN UPMOVE TO 5350 AND THEN TO 5400 LEVELS BUT ONE IS ADVISED TO STAY CAUTIOUS AT HIGHER LEVELS UNTIL 5400 IS BREACHED, IF 5400 IS BREACHED IN NIFTY THEN IT’S A STRONG INDICATION THAT MARKETS WOULD TRAVEL MUCH HIGHER THAN ANTICIPATED AND WOULD TOUCH IN A VERY SHORT SPAN OF TIME 5500 AND THEN TO 5700 LEVELS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5300 THEN LIKLEY TO MAKE A NOSE DIVE TO 5240 LEVELS. ON IS ADVISED TO EXIT POSITIONS BELOW 5240 AND BELOW 5200 ONE IS ADVISED TO SHORT. OIL STOCKS LOOKING VERY BULLISH ALONG WITH IT IN THE NEAR TERM.
BUY HINDPETRO SL 475 TGT 483/490/495
BUY IBREALEST SL 158 TGT 161/163/165 (MEDIUM TERM 185)*
BUY BPCL SL 695 TGT 715/729/738
BUY GODREJIND SL 175 TGT 180/183/185
BUY JETAIRWAYS SL 557 TGT 570/575/587
BUY AMTEKAUTO SL 187 TGT 191.5/195.5/198
POSTIONAL TRADES
BUY MCLEODRUSS TGT 388
