GOOD MORNING!!!
KEY INDICES ENDED IN A LOOSING STREAK IN A VERY VOLATILE TRADE TRACKING EUROPEAN STOCKS. MARKETS WERE TRADING WEAK RIGHT FROM THE MORNING TRACKING ASIAN STOCKS AND LATER WITH EUROPEAN STOCKS, MARKET BREADTH TURNED FURTHER MORE NEGATIVE WHEN REPORTS SAID THAT RAINS WERE 24% BELOW NORMAL IN THE WEEK TO 14 JULY 2010 THIS HAS WEIGHED ON THE SENTIMENTS OF INVESTORS. MARKET BREADTH TURNED NEGATIVE IN CONTRAST TO A STRONG BREADTH EARLIER IN THE DAY. FMCG AND IT STOCKS ROSE WHILE CAPITAL GOODS AND REALITY STOCKS FELL. THOUGH MARKETS OPENED POSITIVE SOON TURNED NEGATIVE AND IN THE LATER PART OF THE DAY THE RECOVERY CROPPED IN AT A GOOD PACE BUT THE RECOVERY PROVED TO BE SHORT LIVED AND AGAIN MARKETS PAIRED GAINS.
TODAY MARKETS LOOKS VERY VOLATILE AND RANGE BOUND. IF NIFTY TRADES BELOW 5375 THEN LIKLEY TO COME DOWN TO 5360 LEVELS AND BREACH BELOW THIS POINT WOULD HALT AT 5340 LEVELS AND ANY TRADE BELOW THIS POINT WILL DRAG NIFTY TO 5300 LEVELS AND CLOSE BELOW 5365 IS SHORT TERM NEGATIVE FOR THE MARKET AND ONE CAN TAKE SHORT POSITIONS BELOW 5365 ON CLOSING BASIS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5420 ONLY THEN ONE IS ADVISED TO SEE LONG POSITIONS. IF NIFTY TRADES 5420 THEN LIKELY TO MAKE AN UPMOVE TO 5450 LEVLES AND ANY CLOSE ABOVE 5400 IS CONSIDERED TO BE STRONG.
BUY THOMAS COOK SL 66 TGT 67.5/68.25/69 (MEDIUM TERM 80)
BUY CROMPTON GREAVES SL 260 TGT 265/267/270
BUY SKUMARS SL 79 TGT 82/84/85.80
BUY LICHSGFIN SL 1068 TGT 1097/1127/1141
BUY TWILIGHT LITAKA PHARMA SL 180 TGT 190/197/206
BUY PUNJABCHEM SL 156 TGT 162/166/172
NOTE: BUY STOCKS ONLY WHEN THEY ARE ABOVE THEIR CLOSING PRICES AND ONE CAN RE-ENTER IF STOCKS TRADES ABOVE THEIR CLOSING PRICES AFTER HITTING STOPLOSS BUT MAINTAIN THE SAME STOPLOSS STRICTLY.
KEY INDICES ENDED IN A LOOSING STREAK IN A VERY VOLATILE TRADE TRACKING EUROPEAN STOCKS. MARKETS WERE TRADING WEAK RIGHT FROM THE MORNING TRACKING ASIAN STOCKS AND LATER WITH EUROPEAN STOCKS, MARKET BREADTH TURNED FURTHER MORE NEGATIVE WHEN REPORTS SAID THAT RAINS WERE 24% BELOW NORMAL IN THE WEEK TO 14 JULY 2010 THIS HAS WEIGHED ON THE SENTIMENTS OF INVESTORS. MARKET BREADTH TURNED NEGATIVE IN CONTRAST TO A STRONG BREADTH EARLIER IN THE DAY. FMCG AND IT STOCKS ROSE WHILE CAPITAL GOODS AND REALITY STOCKS FELL. THOUGH MARKETS OPENED POSITIVE SOON TURNED NEGATIVE AND IN THE LATER PART OF THE DAY THE RECOVERY CROPPED IN AT A GOOD PACE BUT THE RECOVERY PROVED TO BE SHORT LIVED AND AGAIN MARKETS PAIRED GAINS.
TODAY MARKETS LOOKS VERY VOLATILE AND RANGE BOUND. IF NIFTY TRADES BELOW 5375 THEN LIKLEY TO COME DOWN TO 5360 LEVELS AND BREACH BELOW THIS POINT WOULD HALT AT 5340 LEVELS AND ANY TRADE BELOW THIS POINT WILL DRAG NIFTY TO 5300 LEVELS AND CLOSE BELOW 5365 IS SHORT TERM NEGATIVE FOR THE MARKET AND ONE CAN TAKE SHORT POSITIONS BELOW 5365 ON CLOSING BASIS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5420 ONLY THEN ONE IS ADVISED TO SEE LONG POSITIONS. IF NIFTY TRADES 5420 THEN LIKELY TO MAKE AN UPMOVE TO 5450 LEVLES AND ANY CLOSE ABOVE 5400 IS CONSIDERED TO BE STRONG.
BUY THOMAS COOK SL 66 TGT 67.5/68.25/69 (MEDIUM TERM 80)
BUY CROMPTON GREAVES SL 260 TGT 265/267/270
BUY SKUMARS SL 79 TGT 82/84/85.80
BUY LICHSGFIN SL 1068 TGT 1097/1127/1141
BUY TWILIGHT LITAKA PHARMA SL 180 TGT 190/197/206
BUY PUNJABCHEM SL 156 TGT 162/166/172
NOTE: BUY STOCKS ONLY WHEN THEY ARE ABOVE THEIR CLOSING PRICES AND ONE CAN RE-ENTER IF STOCKS TRADES ABOVE THEIR CLOSING PRICES AFTER HITTING STOPLOSS BUT MAINTAIN THE SAME STOPLOSS STRICTLY.
