GOOD MORNING!!!
LAST TRADING DAY MARKETS HAVE OPENED HIGHER BUT COULDNT SUSTAIN AT HIGHER LEVELS, MARKETS STARTED CRAKING NO SOONER IT REACHED HIGHER LEVELS AND DRAGGED DOWN ON CONCERNS OF EUROPEAN AND US INDICIES. MARKETS AT THE END RETRACED. BANKING, IT AND REALITY ALL THE SECTORAL INDICES FELL AND CLOSED IN RED.
WE HAVE SEEN ONLY STOCK SPECIFIC MOVES AND WE MAY CONTINUE TO SEE STOCK SPECIFIC MOVES BASED ON THE FIRST QUARTER RESULTS. WE MAY SEE SOME PROMINENT FIRST QUARTER RESULTS AND MONETARY POLICY MEETING OF US FEDERAL RESERVE WHICH WOULD BE IN FOCUS IN THE WEEK AHEAD, WE MAY SEE SOME KIND OF CONSOLIDATION AT HIGHER LEVELS. THE MANSOON ARE EXCEPTIONALLY GOOD IN THE COUNTRY THIS IS ONE OF VERY POSITIVE SIGN. THE COMBINED NET PROFIT OF A TOTAL OF 2080 COMPANIES FELL 9.2% TO 57560 CRORES ON 20.7% RISE IN SALES TO 707925 CRORES IN Q1 JUNE 2010 OVER Q1 JUNE 2009. FOOD INFLATION HAS EASED TO 13 MONTH LOW . TODAY MARKETS WOULD OPEN FLAT TO NEGATIVE AND TRADE IN A NARROW RANGE, IF NIFTY TRADES BELOW 5430 THEN LIKELY TO COME DOWN TO 5400 AND BREAK BELOW 5397 WOULD DRAG NIFTY TO 5376 LEVLES AND ANY BREAK BELOW THIS LEVEL WOULD TAKE IT TO 5350 LEVELS AND CLOSE BELOW 5400 WOULD BE CONSIDERED NEGATIVE IN THE NEAR TERM. ON THE POSITIVE SIDE IF NIFTY TRADE ABOVE 5476 THEN LIKELY TO TAKE NIFTY TO 5493 LEVELS AND ANY BREAK ABOVE 5500 THEN WE MAY SEE NIFTY TO GO TO 5560 LEVELS. ONE IS ADVISED TO STAY OUT WITH CASH IN THE MARKETS AS MARKETS HAVE POTENTIAL UPSIDE OF ONLY 100 POINTS BUT HAS A GOOD AMOUNT OF DOWNSIDE ON RETRACEMENT FRONT SO STAY CAUTIOUS AND TAKE ONLY STOCK SPECIFIC ON UPSIDE. MAY SEE SOME GOOD MOVEMENT IN FERTILIZERS.
BUY ABB SL 804 TGT 820/827/838
BUY HINDUJA TMT SL 445 TGT 476/485/494
BUY GSPL SL 110 TGT 112/113/114.8
BUY MAYTAS SL 232 TGT 238/241/246
BUY GJHL SL 163 TGT 168/171/175
