GOOD MORNING!!!
KEY INDICES CAME OFF HIGHS AFTER HITTING NEW 31 MONTH HIGHS IN THE LATE TRADE AS EUROPEAN STOCKS AND US INDEX FUTURES FELL. VOLATALITY WAS VERY HIGH ON THE BOURSES. INTEREST RATE SENSITIVE BANKING AND REALTY STOCKS FELL AHEAD OF A MONETARY POLICY REVIEW BY THE CENTRAL BANK ON 16 SEPTEMBER 2010. IT, METAL, CEMENT STOCKS ROSE. MARKET BREADTH WAS STRONG IN THE OPENING OF TRADE IN COMPARISION TO THE END OF THE SESSION. MARKETS STILL MANAGED TO CLOSE ON A POSITIVE NOTE AND THE STRUCTURE OF THE MARKETS STILL CONTINUE TO LOOK BULLISH.
TODAY MARKETS LOOK NEGATIVELY BIASED ON THE NEGATIVE CLOSING OF AMERICAN MARKETS AND WEAK OPENING OF ASIAN MARKETS. ALMOST ALL THE GLOBAL INDICES ARE TRADING IN NEGATIVE ZONES. TODAY, IF NIFTY TRADES BELOW 5575 THEN LIKELY TO MAKE 5560 LEVELS AND BREAK BELOW THIS POINT WE MAY SEE NIFTY TO DRAG DOWN TO 5514 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5600 THEN WE CAN SEE NIFTY TO TOUCH 5700 IN A VERY SHORT TIME. STOCK SPECIFIC MOVES CAN BE SEEN AND BE WITH THE TREND. CEMENTS HAVE GIVEN A BREAK OUT.
BUY UTTAM GALVA STEEL SL 162 TGT 172/179/182
BUY ACC SL 957 TGT 983/999/1009
BUY ULTATECH SL 988 TGT 1018/1031/1059
TODAY MARKETS LOOK NEGATIVELY BIASED ON THE NEGATIVE CLOSING OF AMERICAN MARKETS AND WEAK OPENING OF ASIAN MARKETS. ALMOST ALL THE GLOBAL INDICES ARE TRADING IN NEGATIVE ZONES. TODAY, IF NIFTY TRADES BELOW 5575 THEN LIKELY TO MAKE 5560 LEVELS AND BREAK BELOW THIS POINT WE MAY SEE NIFTY TO DRAG DOWN TO 5514 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5600 THEN WE CAN SEE NIFTY TO TOUCH 5700 IN A VERY SHORT TIME. STOCK SPECIFIC MOVES CAN BE SEEN AND BE WITH THE TREND. CEMENTS HAVE GIVEN A BREAK OUT.
BUY UTTAM GALVA STEEL SL 162 TGT 172/179/182
BUY ACC SL 957 TGT 983/999/1009
BUY ULTATECH SL 988 TGT 1018/1031/1059
