GOOD MORNING!!!
MARKETS WERE ON A SEE-SAW MOVE RIGHT FROM THE BEGINNING OF THE TRADE, VOLATALITY RULED THE ROOST AS THE INDICES HAVE ERASED THE ENTIRE INTRADAY LOSSES IN THE LATE TRADE. INITIAL DOWNFALL IN THE MARKETS WERE TRIGGERED ON DATA SHOWING STRONG ECONOMIC EXPANSION IN THE FIRST QUARTER, THE ECONOMY EXPANDED AT THE FASTEST PACE IN TWO AND HALF YEARS IN Q1 JUNE 2010. THOUGH WEAKNESS PERSISTED ALL OVER THE WORLD INDICES MARKETS STILL MANAGED TO REBOUND, DESPITE MARKET TURNING TO CLOSE AROUND POSITIVE ZONE MARKET WAS WEAK AS ALMOST ALL THE SECTORAL INDICES WERE IN RED.
TODAY MARKETS WOULD REMAIN FLAT. GLOBAL MARKETS ARE MIXED WE MAY SEE OUR MARKETS TO REMAIN FLAT. IF NIFTY TRADES ABOVE 5424 THEN LIKELY TO MOVE UP TO 5450 AND BREAK ABOVE THIS POINT WOULD LEAD TO 5470. ON THE DOWN SIDE IF NIFTY TRADES BELOW 5389 THEN LIKELY TO COME DOWN TO 5356 AND TRADE BELOW THIS LEVEL WOULD TAKE IT FURTHER DOWN TO 5306 AND THEN TO 5240.
BUY UNITED SPIRITS SL 1429 TGT 1447/1467/1479
BUY RANBAXY SL 489 TGT 496/499/506
BUY AMBUJA CEMENTS SL 125 TGT 127.7/129.5/132
BUY KAVERI TELE SL 139.5 TGT 143.8/146.3/150
BUY AP PAPER SL 201.70 TGT 217/228/242
POSITIONAL TRADES
BUY AXIS IT &T TGT 100/120
