GOOD MORNING!!!
MARKET OPENED FIRM ON FRIDAY AND HIT THE FRESH INTRADAY HIGHS AND LETER TRIMMED GAINS IN THE MID AFTERNOON AS INDEX HEAVY WEIGHT RELIANCE INDUSTRIES PARED GAINS, MARKET CAME OFF THE LOWER LEVEL IN THE LATE TRADE ON PROFIT TAKING ON THE WEEKEND. MARKET BREADTH WAS POSITIVE THOUGH IT GOT WEAKEND FROM THE STRONG BREADTH EARLIER IN THE DAY. STOCKS FROM REALITY, BANKING, IT AND CONSUMER DURABLE ROSE. SBI HAS PULLED THE MARKET FOR THE STRAIGHT SECOND DAY HITTING ITS LIFE HIGH. THE MAJOR CONCERN IN THE MARKET IN THE COMING DAYS WOULD BE FIIS AS THEY HAVE BOUGHT EQUITIES WORTH A NET OF 4016.02 CRORES TILL 12 AUGUST WHICH HAS ABSORBED SELLING TO THE TUNE OF 2348.35 FROM DOMESTIC FUNDS AND IN THE MONTH OF JULY THEY BOUGHT WORTH 8320.50 AND DIIS HAVE SOLD WORTH 6323.13 AND IN THE MONTH OF JUNE FII’S HAVE BOUGHT WORTH 7713.97 AND DII’S SOLD WORTH 4777.05 SO FOR THE PAST THREE MONTHS THEY WERE VERY AGGRESSIVE BUYERS IN THE MARKET. AND WHEN THEY START PROFIT BOOKING MARKETS MAY SEE A BAD PATCH.
TODAY MARKETS WOULD OPEN NEGATIVE IN THE OPENING BELL AND WOULD TRADE IN A RANGE BOUND. IF NIFTY TRADES 5450 THEN WOULD COME DOWN TO 5430 LEVELS AND ANY TRADE BELOW 5430 WOULD DRAG NIFTY TO 5400 AND ANY BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 5370 LEVELS. AND ON THE UPSIDE IF NIFTY TRADES ABOVE 5476 LEVELS THEN WOULD MOVE UP TO 5500 LEVELS AND ANY TRADE ABOVE 5500 LEVELS WILL TAKE NIFTY TO 5560 LEVELS. TRADE CAUTIOUSLY AT HIGHER LEVELS.
BUY KFA SL 52 TGT 56/57/58
BUY BOMBAY DYEING SL 654.7 TGT 689/709/723
BUY PATNI SL 511 TGT 540/562/573
BUY CENTURY TEXTILES SL 495 TGT 508/517/521*
BUY IBREAL SL 193 TGT 197.7/200/205 (SHORT TERM TGT 225)
BUY CAIRN SL 353 TGT 360/366/370 (SHORT TERM 450)
POSITIONAL TRADES
BUY KARNATAKA BANK TGT 210/240
BUY KPIT TGT 227
