GOOD MORNING!!!
MARKETS LAST DAY TRADED IN A NARROW RANGE BAND AND LATER IN CLOSING SESSION SLIPPED INTO RED TRACKING ALL THE ASIAN COUNTER PARTS. MARKET INITIALLY OPENED NEGATIVE AND TOOK OFF FROM LOWS TO HIT 5400 MARK TRACKING CHINESE MARKETS AND US INDEX FUTURES AS BOTH OF THEM EDGED HIGHER BUT COULDN’T SUSTAIN IT MUCH LONGER AND SLIPPED INTO RED AGAIN IN THE LATE TRADE. STOCKS FROM SECTORS LIKE REALITY, FMCG, HEALTHCARE AND CONSUMER DURABLE FELL WHILE CAPITAL GOODS STOCKS ROSE. ALL-IN-ALL OUR MARKETS WERE ABLE TO DIGEST THE FALL OF US MARKETS AFTER US CONSUMER CONFIDENCE WEAKENED AND CORPORATE RESULTS FELL SHORT OF EXPECTATIONS. THE MARKET BREADTH, INDICATING THE STRENGTH OF THE BROADER MARKET WAS POSITIVE.
TODAY MARKET LOOKS FLAT AND RANGE BOUND, IF NIFTY TRADES ABOVE 5410 THEN LIKELY TO MAKE AN UP MOVE TO 5450 LEVELS AND ANY BREAK ABOVE 5450 WOULD TAKE NIFTY TO 5560 IN A VERY SHORT TIME. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5370 THEN LIKELY TO MAKE A DOWN MOVE TO 5340 LEVELS AND ANY CLOSE BELOW 5340 IS CONSIDERED TO BE WEAK. MARKETS WOULD BE VERY VOLATILE IN THE DAYS AHEAD AS WE ARE IN A CONSOLIDATION PHASE AND MARKETS WOULD TRY TO BREAK ANY OF THE LEVELS EITHER UPSIDE OR DOWNSIDE. WE MAY SEE STOCK SPECIFIC MOVES AHEAD ON RESULT FRONT, MIDCAPS STILL LOOK PROSPECTIVE. ONE SHOULD TAKE POSITIONS VERY PRECISELY.
BUY COREPROTEC SL 264 TGT 267/270/272
BUY MCDOWELL-N SL 1395 TGT 1421/1432/1447
BUY ZYLOG SL 525 TGT 536/547/555
BUY GSPL SL 104 TGT 105.8/107.65/108.65
BUY SRF SL 253 TGT 259/264/268
POSITIONAL TRADES
BUY CAPRIHANS (I) CMP 90.7 TGT 125
MARKETS LAST DAY TRADED IN A NARROW RANGE BAND AND LATER IN CLOSING SESSION SLIPPED INTO RED TRACKING ALL THE ASIAN COUNTER PARTS. MARKET INITIALLY OPENED NEGATIVE AND TOOK OFF FROM LOWS TO HIT 5400 MARK TRACKING CHINESE MARKETS AND US INDEX FUTURES AS BOTH OF THEM EDGED HIGHER BUT COULDN’T SUSTAIN IT MUCH LONGER AND SLIPPED INTO RED AGAIN IN THE LATE TRADE. STOCKS FROM SECTORS LIKE REALITY, FMCG, HEALTHCARE AND CONSUMER DURABLE FELL WHILE CAPITAL GOODS STOCKS ROSE. ALL-IN-ALL OUR MARKETS WERE ABLE TO DIGEST THE FALL OF US MARKETS AFTER US CONSUMER CONFIDENCE WEAKENED AND CORPORATE RESULTS FELL SHORT OF EXPECTATIONS. THE MARKET BREADTH, INDICATING THE STRENGTH OF THE BROADER MARKET WAS POSITIVE.
TODAY MARKET LOOKS FLAT AND RANGE BOUND, IF NIFTY TRADES ABOVE 5410 THEN LIKELY TO MAKE AN UP MOVE TO 5450 LEVELS AND ANY BREAK ABOVE 5450 WOULD TAKE NIFTY TO 5560 IN A VERY SHORT TIME. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5370 THEN LIKELY TO MAKE A DOWN MOVE TO 5340 LEVELS AND ANY CLOSE BELOW 5340 IS CONSIDERED TO BE WEAK. MARKETS WOULD BE VERY VOLATILE IN THE DAYS AHEAD AS WE ARE IN A CONSOLIDATION PHASE AND MARKETS WOULD TRY TO BREAK ANY OF THE LEVELS EITHER UPSIDE OR DOWNSIDE. WE MAY SEE STOCK SPECIFIC MOVES AHEAD ON RESULT FRONT, MIDCAPS STILL LOOK PROSPECTIVE. ONE SHOULD TAKE POSITIONS VERY PRECISELY.
BUY COREPROTEC SL 264 TGT 267/270/272
BUY MCDOWELL-N SL 1395 TGT 1421/1432/1447
BUY ZYLOG SL 525 TGT 536/547/555
BUY GSPL SL 104 TGT 105.8/107.65/108.65
BUY SRF SL 253 TGT 259/264/268
POSITIONAL TRADES
BUY CAPRIHANS (I) CMP 90.7 TGT 125
