GOOD MORNING!!!
INDICES LOST ITS STRENGTH RIGHT FROM THE OPENING OF THE MARKETS, IT OPENED FIRM TRACKING ASIAN MARKETS BUT COULD NOT SUSTAIN THE OPENING GAINS IT SLOWLY STARTED DECLINING FROM THE OPENING HIGHS AND LOST COMPLETE CONTROL WHEN US AND EUROPEAN STOCKS STARTED FALLING IN THE MID AFTERNOON, INDICES TUMBLED QUITE FAST AND DRAGGED DOWN TO NEW INTRADAY LOWS AND MARKETS CLOSED IN LOWS OF THE DAY. AUTO AND BANKING STOCKS REVERSED ALL THE INITIAL GAINS, HEALTHCARE STOCKS ALSO ADDED FUEL TO THE DECLINE BUT REALITY IS THE SECTOR WHICH HELD ITS GAINS TILL THE END OF THE SESSION. MARKET BREADTH AT THE END TURNED NEGATIVE.
TODAY MARKETS WOULD REMAIN IN RANGE BOUND, NIFTY LIKELY TO REMAIN UNDER TREMENDOUS PRESSURE AT HIGHER LEVELS AND 5450 REMAINS STIFF RESISTANCE FOR ANY UP MOVE FROM HERE ON EVERY RISE MAY WELCOME SELLING PRESSURE AND ANY MOVE ABOVE 5450 WOULD TAKE NIFTY 100 POINTS UPSIDE FROM THERE ON. TODAY IF NIFTY TRADES ABOVE 5400 ONE CAN SEE IT TO GO UP TO 5420 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5450 LEVELS AND ANY CLOSE ABOVE 5450 ONE IS ADVISED TO EXIT SHORTS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5350 LIKELY TO DIP DOWN TO 5320 AND BREAK BELOW THIS LEVEL WOULD TAKE IT TO 5304 AND ANY CLOSE BELOW 5300 IS CONSIDERED TO BE WEAK AND WOULD DRAG NIFTY DOWN FURTHER. WE MAY SEE VERY STOCK SPECIFIC MOVES IN THE MARKET AHEAD OF Q1 RESULTS. STRICTLY FOLLOW THE LEVELS SPECIFIED.
BUY DLF SL 318 TGT 322/324/235.75
BUY AUTOLINE IND SL 154 TGT 163/169/177
BUY JYOTISTRUC SL 165 TGT 170/172/173.5 (POSITIONAL TGT 195)
BUY NILKAMAL SL 309 TGT 313/317/320
POSITIONAL TRADES
BUY AMTEKAUTO CMP 194.40 TGT 230
BUY PHILIPCARB CMP 210.20 TGT 250
BUY TATAMTRDVR CMP 565.15 TGT 675/725*
INDICES LOST ITS STRENGTH RIGHT FROM THE OPENING OF THE MARKETS, IT OPENED FIRM TRACKING ASIAN MARKETS BUT COULD NOT SUSTAIN THE OPENING GAINS IT SLOWLY STARTED DECLINING FROM THE OPENING HIGHS AND LOST COMPLETE CONTROL WHEN US AND EUROPEAN STOCKS STARTED FALLING IN THE MID AFTERNOON, INDICES TUMBLED QUITE FAST AND DRAGGED DOWN TO NEW INTRADAY LOWS AND MARKETS CLOSED IN LOWS OF THE DAY. AUTO AND BANKING STOCKS REVERSED ALL THE INITIAL GAINS, HEALTHCARE STOCKS ALSO ADDED FUEL TO THE DECLINE BUT REALITY IS THE SECTOR WHICH HELD ITS GAINS TILL THE END OF THE SESSION. MARKET BREADTH AT THE END TURNED NEGATIVE.
TODAY MARKETS WOULD REMAIN IN RANGE BOUND, NIFTY LIKELY TO REMAIN UNDER TREMENDOUS PRESSURE AT HIGHER LEVELS AND 5450 REMAINS STIFF RESISTANCE FOR ANY UP MOVE FROM HERE ON EVERY RISE MAY WELCOME SELLING PRESSURE AND ANY MOVE ABOVE 5450 WOULD TAKE NIFTY 100 POINTS UPSIDE FROM THERE ON. TODAY IF NIFTY TRADES ABOVE 5400 ONE CAN SEE IT TO GO UP TO 5420 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5450 LEVELS AND ANY CLOSE ABOVE 5450 ONE IS ADVISED TO EXIT SHORTS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5350 LIKELY TO DIP DOWN TO 5320 AND BREAK BELOW THIS LEVEL WOULD TAKE IT TO 5304 AND ANY CLOSE BELOW 5300 IS CONSIDERED TO BE WEAK AND WOULD DRAG NIFTY DOWN FURTHER. WE MAY SEE VERY STOCK SPECIFIC MOVES IN THE MARKET AHEAD OF Q1 RESULTS. STRICTLY FOLLOW THE LEVELS SPECIFIED.
BUY DLF SL 318 TGT 322/324/235.75
BUY AUTOLINE IND SL 154 TGT 163/169/177
BUY JYOTISTRUC SL 165 TGT 170/172/173.5 (POSITIONAL TGT 195)
BUY NILKAMAL SL 309 TGT 313/317/320
POSITIONAL TRADES
BUY AMTEKAUTO CMP 194.40 TGT 230
BUY PHILIPCARB CMP 210.20 TGT 250
BUY TATAMTRDVR CMP 565.15 TGT 675/725*
