GOOD MORNING!!!
YESTERDAY WE HAVE WITNESSED SEE-SAW MARKET, THOUGH MARKET GAVE UPSIDE BREAK DIDNT QUITE HOLD AT THE HIGHER LEVELS. MARKETS TRADED IN A NARROW RANGE TILL MID AFTERNOON AND THEN MOVED UPSIDE FOR A BRIEF PERIOD AND DIDNT STAY LONG THE FALSE BREAKOUT HAS PUT PANIC IN THE TRADERS AND MARKET CLOSED WEAKER WHEN COMPARED TO THE MARKET BREADTH OF THE EARLY TRADE. ALL-IN-ALL MARKET CRUCIAL LEVELS. WE HAVE SEEN SHIPPING OUTPERFORMING IN THE MARKETS.
TODAY NIFTY MAY OPEN RANGE BOUND. UNTIL THE VOLUMES CROP IN NIFTY MAY BE ON A NARROW RANGE, AS WE HAVE SEEN FOR THE LAST FEW DAYS THE VOLUMES ARE INCHING DOWN ON THE UPWARD JOURNEY WE EXPECT MARKET TO BREAK DOWN ONLY WHEN THE VOLUMES COME IN SO JUST SEE WHEN MARKET COMES DOWN IT HAS TO COME DOWN WITH VOLUMES ONLY THEN ONE CAN SEE SHORTING FOR A GOOD PROFIT IF NIFTY TRADES BELOW 5450 THEN LIKLEY TO COME DOWN TO 5420 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY 5397 AND ANY CLOSE BELOW 5400 IS CONSIDERED TO BE WEAK. ON THE UPSIDE IF NIFTY TRADES ABOVE 5476 ONLY THEN ONE CAN SEE ON THE CLOSING BASIS THAT NIFTY TO GO UP TO 5560 LEVELS.
BUY HCL TECH SL 410 TGT 416/419/421
BUY PRIME FOCUS SL 484 TGT 497/506/515
BUY ARVIND MILLS SL 36.6 TGT 37.6/38.1/38.5
BUY ESSAR SHIPPING SL 107.5 TGT 114/118/120
BUY HIND ZINC SL 1106 TGT 1126/1134/1145
BUY BANK NIFTY 10400 PUT AT 140 SL 75 TGT 300/400/500
BUY SBI 2650 PUT AT 62 SL 36 TGT 100/150/200
SELL SESA GOA FUTURES SL 390 TGT 300/270
SELL TATA STEEL FUTURES SL 570 TGT 500/450/410
