GOOD MORNING!!!
INDICES INCHED HIGHER AT THE CLOSING OF THE TRADING SESSION THOUGH THERE WAS STRONG PROFIT TAKING AFTER MARKETS HAVE RALLIED TO 29 MONTH HIGH. THE MARKET BREADTH WEAKENED, REVERSING FROM A STRONG BREADTH EARLIER IN THE DAY. REALTY STOCKS SLIPPED ON RATE HIKE WORRIES. METAL STOCKS DECLINED IN VOLATILE TRADE. BUT, SUGAR STOCKS GAINED ON REPORTS THE GOVERNMENT WILL SOON DECONTROL SUGAR PRICES. AUTO, SOFTWARE AND BANKING STOCKS SAW MIXED TREND. STOCKS WERE VOLATILE AS TRADERS ROLLED OVER POSITIONS IN THE DERIVATIVES SEGMENT FROM JULY 2010 SERIES TO AUGUST 2010 SERIES AHEAD OF THE EXPIRY OF THE NEAR-MONTH JULY 2010 CONTRACTS NEXT THURSDAY, 29 JULY 2010.
TODAY MARKETS WOULD BE VOLATILE THOUGH INITIALLY MARKETS MAY TAKE A SURGE BUT PROFIT BOOKING WOULD CROP UP AT EVERY HIGHER LEVELS, THE STRONG RALLY IS BEING SUPPORTED BY FOREIGN FUNDS AND EVERY SELL OFF IS BEING TRIGGERED IN THE MARKET BY DOMESTIC PLAYERS, ONE IS ADVISED TO STAY CAUTIOUS AT HIGHER LEVELS AS MARKETS HAVE INCHED HIGHER AND AT STAGE WHERE IT REQUIRES SOME KIND OF CONSOLIDATION OR CORRECTION IN THE FORM OF RETRACEMENT AS OVERALL MARKETS STILL LOOK HEALTHY ON GLOBAL FRONT. IF NIFTY TRADES ABOVE 5460 THEN LIKELY TO MAKE AN UP MOVE TO 5490 LEVELS AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5428 LEVELS WOULD DRAG NIFTY DOWN TO 5411 AND BREAK BELOW THIS LEVEL WOULD FURTHER WEAKEN TO 5375 LEVELS. ONE HAS TO CLOSELY WATCH OUT FOR RBI RATE HIKE ON 27 JULY 2010.
INDICES INCHED HIGHER AT THE CLOSING OF THE TRADING SESSION THOUGH THERE WAS STRONG PROFIT TAKING AFTER MARKETS HAVE RALLIED TO 29 MONTH HIGH. THE MARKET BREADTH WEAKENED, REVERSING FROM A STRONG BREADTH EARLIER IN THE DAY. REALTY STOCKS SLIPPED ON RATE HIKE WORRIES. METAL STOCKS DECLINED IN VOLATILE TRADE. BUT, SUGAR STOCKS GAINED ON REPORTS THE GOVERNMENT WILL SOON DECONTROL SUGAR PRICES. AUTO, SOFTWARE AND BANKING STOCKS SAW MIXED TREND. STOCKS WERE VOLATILE AS TRADERS ROLLED OVER POSITIONS IN THE DERIVATIVES SEGMENT FROM JULY 2010 SERIES TO AUGUST 2010 SERIES AHEAD OF THE EXPIRY OF THE NEAR-MONTH JULY 2010 CONTRACTS NEXT THURSDAY, 29 JULY 2010.
TODAY MARKETS WOULD BE VOLATILE THOUGH INITIALLY MARKETS MAY TAKE A SURGE BUT PROFIT BOOKING WOULD CROP UP AT EVERY HIGHER LEVELS, THE STRONG RALLY IS BEING SUPPORTED BY FOREIGN FUNDS AND EVERY SELL OFF IS BEING TRIGGERED IN THE MARKET BY DOMESTIC PLAYERS, ONE IS ADVISED TO STAY CAUTIOUS AT HIGHER LEVELS AS MARKETS HAVE INCHED HIGHER AND AT STAGE WHERE IT REQUIRES SOME KIND OF CONSOLIDATION OR CORRECTION IN THE FORM OF RETRACEMENT AS OVERALL MARKETS STILL LOOK HEALTHY ON GLOBAL FRONT. IF NIFTY TRADES ABOVE 5460 THEN LIKELY TO MAKE AN UP MOVE TO 5490 LEVELS AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 5428 LEVELS WOULD DRAG NIFTY DOWN TO 5411 AND BREAK BELOW THIS LEVEL WOULD FURTHER WEAKEN TO 5375 LEVELS. ONE HAS TO CLOSELY WATCH OUT FOR RBI RATE HIKE ON 27 JULY 2010.
NO RECOS FOR THE DAY
