GOOD MORNING!!!
MARKETS OPENED FIRM ONLY ON THE DATA SHOWING BUYING BY FOREIGN FUNDS ON MONDAY. MARKETS ROSE FOR THE STRAIGHT FOR THE STRAIGHT SIXTH DAY HITTING NEW HIGHS OF ALMOST 32 MONTHS, NIFTY HAS GONE UP BY 445 POINTS IN THIS CALENDAR MONTH. CONTINUOUS, SUSTAINED AND HEAVY BUYING BY FOREIGN FUNDS HAVE IGNITED RETAIL INVESTORS TO JOIN THE RALLY WHICH HAS PAVED WAY FOR NIFTY TO SCALE TO NEW HIGHS OF 32 MONTHS, IN THE PAST TWO TRADING SESSION FII’S HAVE BOUGHT IN HUGE QUANTITIES WHICH HAVE MADE RETAIL INVESTORS TO JOIN THE RALLY AND HUGE SHORT COVERINGS ALSO WERE UNWINDED TRACKING THE FIIS BUYING INTEREST. ANOTHER POSITIVE POINT IN THE MARKET WAS EASING OF INFLATION DATA WHICH HAS HELPED STOCKS TO INCH HIGHER. WE HAVE SEEN ONLY LARGE CAPS MOVING IN THE LAST TRADING SESSIONS AND WE HAVE ALSO WITNESSED SOME PROFIT BOOKING TAKING PLACE IN MIDCAPS AND SMALL CAPS. THOUGH MARKETS SCALED TO NEWS HIGHS THE BREADTH OF THE MARKET HAS WEAKENED.
TODAY MARKETS WOULD OPEN FLAT AND MAY REMAIN IN RANGE BOUND, EVERY SMALL UPSIDE WOULD TRIGGER PROFIT BOOKING AND WE MAY BE VERY NARROWLY RANGE BOUND ON THE UPSIDE UNTIL IT BREACHS 5834 LEVELS. IF NIFTY TRADES ABOVE 5834 THEN WE CAN SEE NIFTY TO GO UP TO 5868. ON THE DOWNSIDE IF NIFTY TRADES BELOW 5788 THEN WE CAN SEE NIFTY TO SLIDE DOWN TO 5765 AND TRADE BELOW 5765 LEVELS WOULD THEN TAKE NIFTY TO 5727. ONE HAS TO BE VERY CAUTIOUS ON THE UPSIDE THOUGH WE HAVE APPETITE ON THE UPSIDE IN FEW STOCK SPECIFIC COUNTERS THERE ARE MANY FRONT END STOCKS WHICH HAS REACHED THEIR PEAKS AND LIKELY TO DECLINE AT ANY POINT.
BUY RAMA NEWSPRINT SL 20 TGT 20.80/21.35/22.20
BUY DLF SL 338.90 TGT 343/345.90/349
BUY VGUARD SL 201 TGT 212/219/230
BUY VAKRANGEE SOFTWARE SL 246.7 TGT 259.9/268/282
BUY CESC SL 421.25 TGT 430/436/440
RISKY TRADERS CAN TAKE THESE OPTIONS WITHOUT STOPLOSS
BUY INFOSYS 2950 PA BELOW 38
BUY DISH TV 55 PA BELOW 0.75
BUY ICICI BANK 1060 PA BELOW 17
BUY SBI 3050 PA BELOW 64
BUY BANK NIFTY 11500 PE BELOW 90
