GOOD MORNING !!!
MARKETS EDGED LOWER IN EARLY TRADE ON WEAK ASIAN STOCKS. MARKET WAS VERY VOLATILE MOVING BETWEEN POSITIVE AND NEGATIVE TERRAIN NEAR THE FLAT LINE EARLIER IN THE DAY AND SLIPPED TO RED FOR A BRIEF PERIOD IN LATE TRADE BUT LATER TOOK OFF TO FRESH INTRADAY HIGHS AT THE FAG END OF THE TRADING SESSION AS THE GLOBAL STOCKS ROSE, ALONG WITH LATEST DATA SHOWING REVIVAL IN MANSOON RAINS THIS MONTH AND EASING OF FOOD INFLATION SUPPORTED THE SENTIMENT AT THE END OF THE SESSION, THOUGH MARKET WAS POSITIVE OVER ALL MARKET BREADTH WAS NEGATIVE.
TODAY NIFTY WOULD TRADE LOWER IN THE OPENING, BUT LIKELY TO REMAIN IN A RANGE BOUND AND CONSOLIDATE AT THE CURRENT LEVEL TO GIVE ANY FURTHER BREAKOUT EITHER UPSIDE OR DOWNSIDE, WE EXPECT NIFTY TO MOVE UP TO 5700 BUT CORRECTION AT THE CURRENT LEVELS IS MUCH EXPECTED BEFORE GIVING ANY CORRECTION IT WOULD NOT BE A HEALTHY SIGN OF UP MOVE FROM HERE ON AS INVESTORS WOULD NEED TO BE VERY CAUTIOUS IF NIFTY DOESNT MAKE A COME BACK FROM THE CURRENT LEVELS BUT ANY BUYING SHOULD BE ENCOURAGED ONLY ABOVE 5450 LEVELS AND 5350 WOULD ACT AS A GOOD SUPPORT AND ANY SELLING IN THE MARKET IS MOST APPROPRIATE BELOW 5350 ON POSITIONALLY. ON THE INTRADAY FRONT IF NIFTY TRADES BELOW 5380 THEN LIKELY TO COME DOWN TO 5350 AND ANY BREAK BELOW THIS LEVEL WOULD DRAG FURTHER DOWN TO 5320 LEVLES AND ON THE UPSIDE IF NIFTY TRADES ABOVE 5411 THEN LIKELY TO MOVE UP TO 5450 LEVELS AND ANY BREAK ABOVE 5450 WOULD TAKE TOUGH RESISTANCE AROUND 5480 LEVELS ANY BREAK ABOVE 5480 WOULD TAKE NIFTY UPSIDE ON A FAST NOTE. STAY CAUTIOUS AT HIGHER LEVELS AND THERE ARE FEW DISAPPOINTING RESULTS ON THE BOARD SO STAY CAUTIOUS.
SELL SIEMENS SL 726 TGT 711/706/698
SELL DLF SL 313 TGT 307/304/301
SELL HEROHONDA SL 1881 TGT 1854/1825/1800
BUY INOX SL 70 TGT 75/78/80
