GOOD MORNING!!!
LATE TRADE AS PLAYED A SPOIL SPORT IN THE MARKETS, INDICES HIT FRESH INTRADAY LOWS IN THE LATE TRADE AS EUROPEAN STOCKS TUREND SOUR. INDEX HEAVYWEIGHT RELIANCE INDUSTRIES FELL AFTER IT RESULTS AS KEY PRODUCTION IS LIKELY TO STAGNATE AT 60 MILLION STANDARD CUBIC METRES OF GAS A DAY FOR THE NEXT 9 TO 12 MONTHS. MARKET INITIALLY FLEW UP HIGH ON HIGHER ASIAN MARKETS BUT COULDNT MANAGE TO HOLD IT AND SLID DOWN BY MORE THAN 200 POINTS IN THE SECOND HALF OF THE DAY, DURING THE ENTIRE DAY MARKET WAS HOVERING AROUND A NARROW RANGE BUT LATER GAVE UP THERE WAS A VERY HIGH VOLATALITY ON ACCOUNT OF EXPIRY.
TODAY MARKETS WOULD OPEN NEGATIVE AND WILL HAVE A VERY VOLATILE SESSION AHEAD OF EXPIRY. IF NIFTY TRADES BELOW 5375 THEN LIKELY TO COME DOWN TO 5350 LEVLES AND ANY BREAK BELOW THIS LEVEL WOULD DRAG NIFTY TO FURTHER DOWNSIDE. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5390 THEN WE MAY SEE NIFTY TO MOVE UP TO 5411 AND ANY TRADE ABOVE THIS LEVEL WOULD TAKE NIFTY TO 5450 LEVELS. ONE HAS TO STAY VERY CAUTIOUS IN THE MARKET AT THE CURRENT SITUATION AND DONT TAKE ANY FRESH POSITIONS FOR CARRY OVER WAIT TILL THE NEXT CONTRACT STARTS WITH CAUTION. WE MAY SEE VERY STOCK SPECIFIC MOVE ON THE UPSIDE.
SELL WIPRO SL 414 TGT 405/401/398
SELL HINDPETRO SL 445 TGT 433/429/425
SELL RELIANCE SL 1023 TGT 1010/1005/1000
SELL TATA MOTORS SL 860 TGT 848/840/834
