GOOD MORNING!!!
INDICES JOINED RALLY OF GLOBAL STOCKS AND ROSE TO 31 MONTHS HIGH, THE MAJOR TRIGGERS IN THE MARKETS WERE
· US BETTER THAN EXPECTED US PAYROLLS DATA EASED MARKET ANXIETY OVER CHANCES OF DOUBLE DIP RECESSION IN THE WORLD BIGGEST ECONOMY.
· CONTINUAL AND SUSTAINED BUYING FROM FOREIGN FUDNS
· GOOD MONSOON RAINS
ALL THE ABOVE THREE FACTORS HAVE LIFTED THE SENTIMENT OF THE INVESTORS AND IGNITED THE MARKETS TO THE NEW HIGHS OF MORE THAN TWO AND HALF YEARS. THE RALLY HAS COVERED ALL THE SECTORS AND THERE WAS VERY GOOD BUYING SEEN IN ALL THE COUNTERS. INITIALLY MARKETS SURGED IN THE OPENING OF THE TRADE AND STARTED MOVING AT A CONSTANT PACE TOWARDS NORTH AND THERE WAS ABSOLUTE BUYING SEEN IN ALL THE COUNTERS. THOUGH INFLATION WAS LITTLE HIGHER THE DATA DIDN’T DISAPPOINT ANYTHING IN THE MARKETS. THE MARKET BREADTH IN THE OPENING WAS STRONG AND CONTINUED TO GET STRONGER AS THE DAY PROGRESSED AND CLOSED AT A VERY POSITIVE NOTE.
· US BETTER THAN EXPECTED US PAYROLLS DATA EASED MARKET ANXIETY OVER CHANCES OF DOUBLE DIP RECESSION IN THE WORLD BIGGEST ECONOMY.
· CONTINUAL AND SUSTAINED BUYING FROM FOREIGN FUDNS
· GOOD MONSOON RAINS
ALL THE ABOVE THREE FACTORS HAVE LIFTED THE SENTIMENT OF THE INVESTORS AND IGNITED THE MARKETS TO THE NEW HIGHS OF MORE THAN TWO AND HALF YEARS. THE RALLY HAS COVERED ALL THE SECTORS AND THERE WAS VERY GOOD BUYING SEEN IN ALL THE COUNTERS. INITIALLY MARKETS SURGED IN THE OPENING OF THE TRADE AND STARTED MOVING AT A CONSTANT PACE TOWARDS NORTH AND THERE WAS ABSOLUTE BUYING SEEN IN ALL THE COUNTERS. THOUGH INFLATION WAS LITTLE HIGHER THE DATA DIDN’T DISAPPOINT ANYTHING IN THE MARKETS. THE MARKET BREADTH IN THE OPENING WAS STRONG AND CONTINUED TO GET STRONGER AS THE DAY PROGRESSED AND CLOSED AT A VERY POSITIVE NOTE.
TODAY MARKETS WOULD OPEN POSITIVE AND REMAIN RANGE BOUND TILL NIFTY IS BELOW 5600 LEVELS ONE CAN SEE NIFTY TO TRADE RANGE BOUND AS LONG AS NIFTY IS BELOW 5600 LEVELS, IF NIFTY TRADES ABOVE 5600 WE CAN SEE NIFTY TO MOVE TO 5700 IN A VERY SHORT NOTE ANY LEG OF BUYING FROM HERE ON WOULD FORCE THE BEARS TO COVER THEIR SHORTS THEREBY IGNITING THE MARKETS TO SHOOT UP TO 5700 LEVELS. ONE HAS TO BE VERY CAUTIOUS IN THE MARKET BUT BE WITH THE TREND. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5570 WE MAY SEE A LITTLE DECLINE TILL 5547 LEVELS AND BREAK BELOW THIS POINT WOULD TAKE DOWN TO 5510 LEVELS.
BUY CEAT SL 188 TGT 195/200/206
BUY VOLTAS SL 216 TGT 219.60/221.40/224.50
BUY STERLING BIOTECH SL 114.4 TGT 118.25/120.25/123
POSITIONAL TRADES
BUY KINGFISHER 85/93
BUY BEML TGT 1400/1500*
BUY ISPAT INDS TGT 23*
