GOOD MORNING!!!
SELLING PRESSURE CONTINUED AFTER A POSITIVE START IN THE MARKET ALMOST ALL THE OPENING GAINS HAVE BEEN WIPED OFF SLOWLY AND ENTERED INTO A NEGATIVE TERRITORY AND THEN IN THE AFTERNOON WE HAVE SEEN A FAST RECOVERY THOUGH COULD NOT BREAK INTRADAY HIGHS BUT MANAGED TO INCH UP HIGHER BUT AT THE FAG END OF THE TRADING SESSION MARKETS FELL ON PROFIT BOOKING NOTE AHEAD OF WEEKEND AND MARKETS MANAGED TO CLOSE ALMOST FLAT TO NEGATIVE. THERE WAS GOOD BUYING SEEN IN IT AND FERTILIZERS STOCKS.
TODAY MARKETS WOULD OPEN POSITIVE TRACKING POSITIVE CLOSING OF EUROPEAN & AMERICAN INDICES ON FRIDAY AND A POSITIVE START IN ASIAN INDICES WOULD HELP NIFTY TO OPEN ON A POSITIVE NOTE. IF NIFTY TRADES ABOVE 5490 THEN LIKELY TO MAKE AN UP MOVE TO 5510 LEVELS AND BREAK ABOVE THAT POINT WOULD TAKE IT TO 5545 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE IT TO 5560 WHICH WOULD ACT AS A TOUGH RESISTANCE AND ANY BREAK AND CLOSE ABOVE THIS POINT WOULD TAKE NIFTY TO FURTHER NEW HIGHS AND THERE IS EVERY POSSIBILITY THAT THERE WOULD BE LOT OF SHORT UNWINDING TO TAKE PLACE SO BE CAUTIOUS ABOVE 5560 LEVELS ON THE SHORT SIDE. ON THE NEGATIVE SIDE OF MARKET IF NIFTY TRADES BELOW 5474 WE MAY LIKELY TO SEE NIFTY TO COME DOWN TO 5438 AND THEN TO 5414 LEVELS AND ANY CLOSING BELOW 5450 IS CONSIDERED TO BE BEARISH IN A VERY SHORT TERM.
BUY BOSCH LTD SL 6267 TGT 6440/6553/6610 (SHORT TERM 7330)*
BUY HOTEL LEELA SL 54.6 TGT 55.90/56.60/57.80 (SHORT TERM 69)*
BUY KINGFISHER AIRLINES SL 63 TGT 64.25/65.50/66.15
BUY ESCORTS SL 214.3 TGT 220/224/227.9
SELLING PRESSURE CONTINUED AFTER A POSITIVE START IN THE MARKET ALMOST ALL THE OPENING GAINS HAVE BEEN WIPED OFF SLOWLY AND ENTERED INTO A NEGATIVE TERRITORY AND THEN IN THE AFTERNOON WE HAVE SEEN A FAST RECOVERY THOUGH COULD NOT BREAK INTRADAY HIGHS BUT MANAGED TO INCH UP HIGHER BUT AT THE FAG END OF THE TRADING SESSION MARKETS FELL ON PROFIT BOOKING NOTE AHEAD OF WEEKEND AND MARKETS MANAGED TO CLOSE ALMOST FLAT TO NEGATIVE. THERE WAS GOOD BUYING SEEN IN IT AND FERTILIZERS STOCKS.
TODAY MARKETS WOULD OPEN POSITIVE TRACKING POSITIVE CLOSING OF EUROPEAN & AMERICAN INDICES ON FRIDAY AND A POSITIVE START IN ASIAN INDICES WOULD HELP NIFTY TO OPEN ON A POSITIVE NOTE. IF NIFTY TRADES ABOVE 5490 THEN LIKELY TO MAKE AN UP MOVE TO 5510 LEVELS AND BREAK ABOVE THAT POINT WOULD TAKE IT TO 5545 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE IT TO 5560 WHICH WOULD ACT AS A TOUGH RESISTANCE AND ANY BREAK AND CLOSE ABOVE THIS POINT WOULD TAKE NIFTY TO FURTHER NEW HIGHS AND THERE IS EVERY POSSIBILITY THAT THERE WOULD BE LOT OF SHORT UNWINDING TO TAKE PLACE SO BE CAUTIOUS ABOVE 5560 LEVELS ON THE SHORT SIDE. ON THE NEGATIVE SIDE OF MARKET IF NIFTY TRADES BELOW 5474 WE MAY LIKELY TO SEE NIFTY TO COME DOWN TO 5438 AND THEN TO 5414 LEVELS AND ANY CLOSING BELOW 5450 IS CONSIDERED TO BE BEARISH IN A VERY SHORT TERM.
BUY BOSCH LTD SL 6267 TGT 6440/6553/6610 (SHORT TERM 7330)*
BUY HOTEL LEELA SL 54.6 TGT 55.90/56.60/57.80 (SHORT TERM 69)*
BUY KINGFISHER AIRLINES SL 63 TGT 64.25/65.50/66.15
BUY ESCORTS SL 214.3 TGT 220/224/227.9
POSITIONAL TRADES
BUY TV18 TGT 118
BUY TALWALKAR TGT 300
BUY VENKYS (I) TGT 1150/1400
