GOOD MORNING!!!
MARKETS HAVE OPENED FIRM TRACKING ON ASIAN STOCKS AND DOW FUTURES. MARKETS HAVE EXTENDED THEIR GAINS TO HIT FRESH INTRADAY HIGHS TRACKING EXTENDED GAINS BY ASIAN INDICES, MARKET CONTINUED ITS UPWARD RALLY TILL MID AFTERNOON BUT LATER GAVE AWAY SOME OF ITS GAINS AS RELIANCE CAME OFF THE HIGHER LEVELS. ALL IN ALL MARKETS WERE VERY BULLISH AND SHOWS A SIGN STRONG UPMOVE, MARKETS HAVE GONE UP FOR THE STRAIGHT SECOND DAY ON THE FOLLOWING GROUNDS
(A) EXPECTATIONS OF STRONG QUARTER RESULTS
(B) REVISION IN INDIA’S GDP GROWTH FORECAST BY IMF
(C) DECISION TO CUT EXPOSURE MARGIN ON STOCK DERIVATIVES BY SEBI.
(D) POSITIVE ECONOMIC DATA, JOBLESS CLAIMS FALLING IN US ALSO BOOSTED THE SENTIMENT IN THE MARKETS
(E) FEW RETAILERS REPORTING SOLID SALES IN US
HAVE BOOSTED THE MARKET SENTIMENTS. ALL THE SECTORAL INDICES WERE ON GREEM EXCEPT FOR FMCG.
TODAY MARKE LOOKS POSITIVE BUT WOULD REMAIN IN RANGE BOUND. IF NIFTY TRADES ABOVE 5376 THEN LIKELY TO MOVE UP TO 5400 LEVELS AND ANY BREAK ABOVE 5400 WOULD TAKE NIFTY TO NEW HIGHS OF THE YEAR, NIFTY LIKELY TO MAKE AN UP MOVE TO 5500 LEVELS IN A VERY SHORT SPAN OF TIME. ANY CLOSING ABOVE 5400 LEVELS IS A FRESH ENTRY FOR BUYING. ON THE NEGATIVE SIDE IF NIFTY TRADES 5340 THEN LIKELY TO ROLL DOWN TO 5305 LEVELS AND ANY BREAK BELOW 5300 LEVELS WOULD TAKE NIFTY TO 5260 LEVELS BUT NIFTY THOUGH ROLLS DOWN ONE SHOULD NOT CONSIDER THE TREND TO BE REVERSAL AS NIFTY IS RIDING VERY BULLISH. AVOID SHORTING AT THIS POINT IN TIME ESPECIALLY IF IT CROSSES 5400 LEVELS ONE CAN TAKE CHANCE BEFORE 5400 LEVELS BUT SHOULD WIND UP THEIR SHORTS IF IT BREACHES 5400. WE MAY SEE SOME MOVEMENT TO CROP IN REALITY SPACE.
BUY ORIENTBANK SL 351 TGT 359/363/370*
BUY 20 MICRONS SL 43.4 TGT 45/48/50*
BUY SOUTHBANK SL 187 TGT 191/193.9/198.9
BUY MONNETISPA SL 494 TGT 511/524/540 (MEDIUM TERM 660)
BUY DLF SL 296 TGT 301/304/309
BUY BHARTIARTL SL 306 TGT 317/324/335
BUY INDIABULLS FINANCIAL SERVICE SL 160 TGT 165/169/173.4
BUY HDFCBANK SL 1999 TGT 2021/2036/2060
POSITIONAL TRADES
BUY ORCHIDCHEM TGT 215*
BUY DABUR TGT 254*
BUY MUDRA LIFESTYLE CMP 47.25 TGT 58/66
BUY PIRHEALTH TGT 700/850
BUY PERSISTENT TGT 550/640
MARKETS HAVE OPENED FIRM TRACKING ON ASIAN STOCKS AND DOW FUTURES. MARKETS HAVE EXTENDED THEIR GAINS TO HIT FRESH INTRADAY HIGHS TRACKING EXTENDED GAINS BY ASIAN INDICES, MARKET CONTINUED ITS UPWARD RALLY TILL MID AFTERNOON BUT LATER GAVE AWAY SOME OF ITS GAINS AS RELIANCE CAME OFF THE HIGHER LEVELS. ALL IN ALL MARKETS WERE VERY BULLISH AND SHOWS A SIGN STRONG UPMOVE, MARKETS HAVE GONE UP FOR THE STRAIGHT SECOND DAY ON THE FOLLOWING GROUNDS
(A) EXPECTATIONS OF STRONG QUARTER RESULTS
(B) REVISION IN INDIA’S GDP GROWTH FORECAST BY IMF
(C) DECISION TO CUT EXPOSURE MARGIN ON STOCK DERIVATIVES BY SEBI.
(D) POSITIVE ECONOMIC DATA, JOBLESS CLAIMS FALLING IN US ALSO BOOSTED THE SENTIMENT IN THE MARKETS
(E) FEW RETAILERS REPORTING SOLID SALES IN US
HAVE BOOSTED THE MARKET SENTIMENTS. ALL THE SECTORAL INDICES WERE ON GREEM EXCEPT FOR FMCG.
TODAY MARKE LOOKS POSITIVE BUT WOULD REMAIN IN RANGE BOUND. IF NIFTY TRADES ABOVE 5376 THEN LIKELY TO MOVE UP TO 5400 LEVELS AND ANY BREAK ABOVE 5400 WOULD TAKE NIFTY TO NEW HIGHS OF THE YEAR, NIFTY LIKELY TO MAKE AN UP MOVE TO 5500 LEVELS IN A VERY SHORT SPAN OF TIME. ANY CLOSING ABOVE 5400 LEVELS IS A FRESH ENTRY FOR BUYING. ON THE NEGATIVE SIDE IF NIFTY TRADES 5340 THEN LIKELY TO ROLL DOWN TO 5305 LEVELS AND ANY BREAK BELOW 5300 LEVELS WOULD TAKE NIFTY TO 5260 LEVELS BUT NIFTY THOUGH ROLLS DOWN ONE SHOULD NOT CONSIDER THE TREND TO BE REVERSAL AS NIFTY IS RIDING VERY BULLISH. AVOID SHORTING AT THIS POINT IN TIME ESPECIALLY IF IT CROSSES 5400 LEVELS ONE CAN TAKE CHANCE BEFORE 5400 LEVELS BUT SHOULD WIND UP THEIR SHORTS IF IT BREACHES 5400. WE MAY SEE SOME MOVEMENT TO CROP IN REALITY SPACE.
BUY ORIENTBANK SL 351 TGT 359/363/370*
BUY 20 MICRONS SL 43.4 TGT 45/48/50*
BUY SOUTHBANK SL 187 TGT 191/193.9/198.9
BUY MONNETISPA SL 494 TGT 511/524/540 (MEDIUM TERM 660)
BUY DLF SL 296 TGT 301/304/309
BUY BHARTIARTL SL 306 TGT 317/324/335
BUY INDIABULLS FINANCIAL SERVICE SL 160 TGT 165/169/173.4
BUY HDFCBANK SL 1999 TGT 2021/2036/2060
POSITIONAL TRADES
BUY ORCHIDCHEM TGT 215*
BUY DABUR TGT 254*
BUY MUDRA LIFESTYLE CMP 47.25 TGT 58/66
BUY PIRHEALTH TGT 700/850
BUY PERSISTENT TGT 550/640
