GOOD MORNING!!!
MARKETS OPENED FIRM BUT COULD NOT HOLD THE GAINS IN THE TRADE, MARKETS HAVE SHOWN WEAKNESS ON EVERY RISE, THERE WAS PROFIT BOOKING SEEN IN EVERY RISE IN THE MARKETS. THE SELLING BECAME INTENSE IN THE MID AFTERNOON ON SPECULATION ON AYODHYA VERDICT WHICH WAS SCHEDULED TO BE TODAY, NO SOONER THE ANNOUNCEMENT WAS MADE ON POSTPONING THE VERDICT TO 29 SEP 10 MARKETS MANAGED TO RECOVER FROM LOWS BUT COULD NOT MANAGE TO COME IN POSITIVE ZONE. MIDCAPS AND IT WERE THE ONLY TWO SECTORS WHICH TRADED IN POSITIVE ZONE ON SECTORAL INDICES. REALITY AND BANKING WERE THE HIGHEST LOOSER OF THE DAY. INDEX HEAVYWEIGHT RELIANCE INDUSTRIES WAS DOWN BY 2.27% AND MANAGED TO CLOSE IN THE DAYS LOW. BREADTH OF THE MARKETS WEAKENED WHEN COMPARED TO THE OPENING BREADTH OF THE TRADE BUT OVERALL MARKETS BREADTH WAS WEAK.
TODAY MARKETS LOOK WEAK ON NEGATIVE CLOSING OF GLOBAL CUES AND WEAK OPENING OF ASIAN MARKETS. MARKETS WOULD OPEN WEAK AND CONTINUE TO TRADE IN RANGE BOUND WE MAY SEE VERY GOOD VOLATILITY IN THE TRADE. WE MAY SEE MARKETS TO COME INTO PRESSURE AT THE FAG END OF THE TRADING SESSION ON WEEKEND AS MARKETS ARE OVER STRETCHED. IF NIFTY TRADES BELOW 5940 THEN LIKELY TO COME DOWN TO 5909 LEVELS AND ANY BREAK BELOW 5909 CAN TAKE NIFTY TO 5860 LEVELS. ON THE POSITIVE FRONT IF NIFTY TRADES 5990 LEVEL CAN MOVE UPTO 6011 AND ANY BREAK ABOVE 6011 CAN TAKE NIFTY TO 6050 LEVELS. TRADERS CAN TAKE SHORT POSITION WITH STOPLOSS OF 6011 IN THE OPENING.
BUY ORCHID CHEMICALS SL 207.8 TGT 212.90/215.90/218.30
BUY DALMIA CEMENTS SL 263.70 TGT 275/282/287
BUY COLPAL SL 887 TGT 902/911/924
TODAY MARKETS LOOK WEAK ON NEGATIVE CLOSING OF GLOBAL CUES AND WEAK OPENING OF ASIAN MARKETS. MARKETS WOULD OPEN WEAK AND CONTINUE TO TRADE IN RANGE BOUND WE MAY SEE VERY GOOD VOLATILITY IN THE TRADE. WE MAY SEE MARKETS TO COME INTO PRESSURE AT THE FAG END OF THE TRADING SESSION ON WEEKEND AS MARKETS ARE OVER STRETCHED. IF NIFTY TRADES BELOW 5940 THEN LIKELY TO COME DOWN TO 5909 LEVELS AND ANY BREAK BELOW 5909 CAN TAKE NIFTY TO 5860 LEVELS. ON THE POSITIVE FRONT IF NIFTY TRADES 5990 LEVEL CAN MOVE UPTO 6011 AND ANY BREAK ABOVE 6011 CAN TAKE NIFTY TO 6050 LEVELS. TRADERS CAN TAKE SHORT POSITION WITH STOPLOSS OF 6011 IN THE OPENING.
BUY ORCHID CHEMICALS SL 207.8 TGT 212.90/215.90/218.30
BUY DALMIA CEMENTS SL 263.70 TGT 275/282/287
BUY COLPAL SL 887 TGT 902/911/924
POSITIONAL TRADES
BUY PUNJLLOYD TGT 160
BUY PBA INFRA TGT 110
