INTRADAY TIPS FOR 02 SEPTEMBER 2010

GOOD MORNING!!!

STRONG GLOBAL CUES HAVE PUSHED THE BOURSES TO THE NEW INTRADAY HIGHS IN THE AFTERNOON SESSION OF THE MARKETS. MONTH STARTED ON A FIRM NOTE NULLIFYING ALMOST ALL THE LOSSES INCURRED IN THE LAST FEW TRADING SESSIONS. THE MAJOR TRIGGER IN THE MARKETS APART FROM THE GLOBAL CUES WERE STRONG AUTO SALES, DATA FROM MANUFACTURING SECTOR SHOWING EXPANSION AND RESUMPTION OF BUYING BY FOREIGN FUNDS THESE ALL THINGS HAVE UNDERPINNED THE SENTIMENT OF THE INVESTORS. MARKET INITIALLY OPENED HIGHER AND CONTINUED TO REMAIN IN A NARROW RANGE BOUND UNTIL AFTERNOON THERE AFTER TRACKING THE US AND EUROPEAN POSITIVE OPENING MARKET STARTED TO SHOW ITS MOMENTUM TOWARDS NORTH AND INCHED HIGHER. ALL THE SECTORAL INDICES WERE IN GREEN AND MARKET BREADTH IN THE OPENING WAS STRONG AND IT WAS MUCH STRONGER AT THE END OF THE TRADING DAY.

TODAY MARKETS LOOK POSITIVE ON GLOBAL CUES AS US AND EUROPE CLOSED POSITIVE AND POSITIVE OPENING OF ASIAN STOCKS WOULD TRIGGER INDIAN MARKETS IN THE OPENING BELL. NIFTY IN THE OPENING MAY GO UPTO 5520 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5545 LEVELS WHICH WILL ACT AS A TOUGH RESISTANCE AND IF THIS IS BREACHED WE CAN EXPECT IT TO TOUCH 5560 LEVELS THIS IS CONSIDERED TO BE A LONG TERM RESISTANCE IF NIFTY TRADES ABOVE 5560 THEN WE MAY SEE SOME SHORT COVERING AND BUILDUP IN OPEN LONGS AS WELL. ON THE DOWN SIDE NIFTY WOULD NOT LIKELY TO SEE ANY PRESSURE.

BUY HANUNG TOYS SL 308 TGT 316/324/333
BUY JSW STEEL SL 1170 TGT 1187/1199/1207
BUY DISH TV SL 53 TGT 54.8/56.3/57.20
BUY RUCHI SOYA SL 136 TGT 140/143.8/145.8*
BUY CENTURY TEXTILES SL 494 TGT 500/506/509

POSITIONAL TRADES
BUY FDC TGT 125/145