GOOD MORNING!!!
INDICES OPENED NEGATIVE UNDER PRESSURE FROM ASIAN MARKETS AND CONTINUED ITS LOOSING STREAK TRACKING WEAK EUROPEAN MARKETS, BEARISH SENTIMENTS ACROSS GLOBAL MARKETS LEAD THE INDIAN BOURSES TO CLOSE IN THE RED. THOUGH NIFTY WAS NEGATIVE MANAGED TO CLOSE ABOVE 5500. ALL THE SECTORAL INDICIES WERE IN RED AND REALITY WAS THE MOST EFFECTED AMONGST ALL THE SECTORS, IT, MIDCAPS HAVE ALSO LOST THEIR GROUND. MARKETS AFTER A DROP OF 60 POINTS ENDED 26 POINTS LOWER RECOVERING ALMOST 35 POINTS FROM THE LOWS. MARKET BREADTH WAS WEAK.
TODAY MARKETS LOOK WEAK ON GLOBAL CUES AND MARKET MAY SEE SOME KIND OF PRESSURE BOTH FROM GLOBAL CUES AS WELL AS FNO EXPIRY ON THURSDAY. THOUGH MARKETS ARE TRADING IN NEGATIVE ZONE, STRUCTURALLY IT IS SHOWING LOT OF STRENGTH. ONE HAS TO BE VERY CAREFUL ON BOTH THE SHORT AS WELL AS LONG SIDE AS WE HAVE NOT ENTERED INTO ANY BEARISH PHASE AND WE ARE STILL BULLISH BUT ONLY THING IS MARKET ARE ALMOST IN THE OVER BOUGHT REGION WHERE ONE IS ADVISED TO STAY ON THE SIDE LINES. TRADE STOCK SPECIFIC FOR ANY UPMOVE AND NOT TO INVEST ALL THEIR CAPITAL AT THIS STAGE AS THE SCOPE OF UPMOVE ON IMMEDIATE BASIS IS NOT VERY HIGH AND POTENTIAL DOWNSIDE IS MUCH HIGHER SO RISK REWARD IS VERY HIGH SO BETTER STAY ON SIDELINES AND STAY ON CASH. TODAY IF NIFTY TRADES BELOW 5490 THEN LIKELY TO COME DOWN TO 5463 AND BREAK BELOW THIS LEVEL WOULD DRAG NIFTY FURTHER DOWN TO 5428 ANY CLOSE BELOW 5480 IS WEAK. ON THE POSITIVE SIDE IF NIFTY TRADES 5525 LIKELY TO MAKE AN UPMOVE TO 5540 AND ANY BREAK ABOVE THIS LEVEL WOULD TAKE IT TO 5560 AND THIS IS CONSIDERED TO BE THE TOUGHEST RESISTANCE ANY BREAK ABOVE WE WOULD HEAD HIGHER ON SHORT COVERING. PHARMA AND POWER LOOKS GOOD.
BUY PTC SL 123 TGT 126/128/129.6
BUY IND SWIFT LABS SL 113.9 TGT 121/125/132
BUY MID-DAY SL 35.7 TGT 36.45/37/37.8
BUY VOLTAMP SL 1099 TGT 1157/1175/1195
BUY SURYA PHARMA SL 285 TGT 300/315/333 (POSITIONAL 380/550)
POSITIONAL TRADES
BUY HCL INFOSYSTEMS TGT 137*
BUY AJANTA PHARMA TGT 300*
