GOOD MORNING!!!
INDICES SURGED TO HIT FRESH INTRADAY HIGH IN THE LATE TRADE OF THE DAY. ONE AND THE ONLY KEY DRIVING FORCE IN THE MARKET IS FOREIGN FUNDS CONSISTANT AND SUSTAINED BUYING FOR THE PAST FEW DAYS. IT, METALS, AUTO, FMCG AND FERTILIZERS SURGED ALONG WITH BANKING. INITIALLY THOUGH MARKET OPEN HIGHER AND CONTINUED ITS RALLY TILL NOON AND GAVE UP ALL ITS GAINS IN THE AFTERNOON AND HIT FRESH INTRADAY LOWS AND THEN IN THE LATE AFTERNOON MARKETS TOOK OFF ON CONTINUED AND SUSTAINED BUYING AT A LIGHTENING SPEED WITH GOOD VOLUMES. IF ONE LOOKS AT THE FOREIGN FUND BUYING IN JULY IT STANDS AROUND 8320.5 CRORES WHICH HAS OBSORBED THE DOMESTIC FUNDS SELLING WORTH 6323.13 CRORES AND IN THE MONTH OF JUNE IT STANDS AT 7713.97 WHICH HAS OBSORBED THE SELLING OF 4777.05 CRORES OF DOMESTIC FUNDS.
TODAY MARKET LOOKS POSITIVELY FLAT, AS NIFTY CLOSED AT HIGHER LEVELS OF TRADE IN THE LAST TRADING DAY WHICH INDICATES A POSITIVE SIGN. AS MARKETS ARE AT HIGHER ZONES AND PSYCHOLOGICALLY IT MAY RESIST TO MOVE ABOVE 5500 LEVELS BUT ONCE IF THIS LEVEL IS BROKEN THEN WE MAY SEE NIFTY TO MOVE UP TO 5560 LEVELS AND WE MAY EVEN SEE SOME GOOD SHORT COVERING AT THIS STAGE AND WE MAY HEAD FURTHER UPSIDE. BUT ANY NEGATIVE NEWS IN THE MARKET MAY DRAG NIFTY TO UNIMAGINABLE FIGURES AT THIS POINT IN TIME AS THERE IS HARDLY ANY RETAIL PARTICIPATION ON THE UPSIDE AND THERE MAY BE LOT OF SHORTS ADDING IN THE MARKET IF ANY EXTERNAL NEGATIVE FACTORS CROP-IN. ON THE NEGATIVE SIDE IF NIFTY TRADE BELOW 5470 THEN WE MAY SEE NIFTY COME DOWN TO 5445 AND THEN TO 5409 LEVELS. FERTILIZER STOCKS LOOK GOOD.
BUY HINDALCO SL 173 TGT 178/180/183.75
BUY UNITED PHOSPHOROUS SL 194 TGT 198/200/203
BUY RANBAXY SL 470 TGT 478/483/490
BUY HDFC BANK SL 2185 TGT 2215/2230/2256
BUY DEEPAK FERTILIZERS SL 160 TGT 165.75/168.9/174
BUY INDIAN HOTELS SL 108 TGT 110.2/111.3/113
POSITIONAL TRADES
KFA TGT 70/85
