GOOD MORNING!!!
INDICES END FLAT WHILE VOLATALITY WAS HIGH AS TRADERS ROLLED OVER POSITIONS FROM THE CURRENT MONTH TO THE NEXT MONTH AHEAD OF EXPIR. NIFTY HAS HIT 31 MONTH HIGH ON THE INDEX. THE MARKET WAS VOLATILE. THE MARKET LOST GROUND SOON AFTER A POSITIVE START. THE MARKET ONCE AGAIN SLIPPED INTO THE RED LATER. THE MARKET MOVED IN A NARROW RANGE IN THE MID MORNING TRADE. FRESH BUYING HAS PAVED WAY FOR THE MARKETS TO 31 MONTHS HIGH. THE MARKET BREADTH WAS STRONG THERE WAS FRESH BUYING SEEN ON STOCK SPECIFIC BANKING SECTOR AND AUTO SHARES.
TODAY MARKETS LIKELY TO OPEN NEGATIVE TRACKING NEGATIVE US INDICES AND WEAK ASIAN MARKETS. WE MAY SEE MARKETS TO BE VERY VOLATILE AND REMAIN IN A RANGE BOUND AHEAD OF EXPIRY IN THIS WEEK. TODAY IF NIFTY TRADES BELOW 5524 THEN LIKELY TO COME DOWN TO 5507 AND BELOW THIS LEVEL WOULD TAKE NIFTY TO 5480 AND ANY CLOSE BELOW 5500 IS WEAK AND ONE CAN SEE FURTHER DOWNSIDE THIS LEVEL ON A POSITIONAL TRADE. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5540 THEN LIKELY TO MOVE UP TO 5560 AND THEN ANY BREAK AND TRADE ABOVE THAT POINT WOULD TAKE NIFTY TO 5590 AND ANY CLOSE ABOVE THIS POINT WOULD DRIVE MARKETS CRAZY ON SHORT COVERING AND MAY HEAD MUCH HIGHER THAN ANTICIPATED.
BUY INDIAN HOTELS SL 108 TGT 110/111/112
BUY JINDAL SOUTH WEST HOLDINGS SL 1854 TGT 1890/1915/1940
BUY APOLLO TYRE SL 75.8 TGT 78/79.9/80.7
BUY LANCO INFRATECH SL 73.3 TGT 75/76/77
BUY JINDALY POLY FILMS SL 755 TGT 800/833/850 (SHORT TERM 1000)
BUY JINDAL PHOTO SL 255.8 TGT 272/283/290
POSITIONAL TRADES
BUY VIDEOCON INDUSTRIES TGT 297/350
BUY GLENMARK TGT 350
