GOOD MORNING!!!
INDICES PARED GAINS IN LATE TRADE AS PROFIT BOOKING EMERGED AT HIGHER LEVEL AFTER RECENT STRONG GAINS. THE MARKET GAINED FOR THE SECOND STRAIGHT TRADING SESSION REALTY, CAPITAL GOODS, METAL AND CONSUMER DURABLES STOCKS ROSE WHILE FMCG FELL AND. IT STOCKS TOO FELL ON A FIRM RUPEE. THE MARKET PARED GAINS AFTER HITTING A 32-MONTH HIGH AT THE ONSET OF THE TRADING SESSION. THE MARKET REGAINED STRENGTH IN MORNING TRADE. THE MARKET MOVED IN A NARROW RANGE IN MID-MORNING TRADE. THE MARKET HELD FIRM IN EARLY AFTERNOON TRADE. THE MARKET CAME OFF HIGHS IN AFTERNOON TRADE. FOREIGN FUNDS HAVE MADE HEAVY PURCHASES OF INDIAN STOCKS THIS MONTH. FII INFLOW IN SEPTEMBER 2010 TOTALED RS 18,649.23 CRORE, AS PER DATA FROM THE STOCK EXCHANGES. FII INFLOW IN CALENDAR YEAR 2010 TOTALED RS 38144.33 CRORE (TILL 24 SEPTEMBER 2010). STOCKS MAY REMAIN VOLATILE THIS WEEK AS TRADERS ROLL OVER POSITIONS FROM THE NEAR-MONTH SEPTEMBER 2010 SERIES TO OCTOBER 2010 SERIES AHEAD OF THE EXPIRY OF CONTRACTS ON THURSDAY, 30 SEPTEMBER 2010. THE LARGE INITIAL PUBLIC OFFER (IPO) OF STATE-RUN COAL INDIA IN MID-OCTOBER 2010 WOULD SOAK LIQUIDITY FROM THE SECONDARY EQUITY MARKETS. THE GOVERNMENT PLANS TO RAISE ABOUT RS 15000 CRORE FROM DIVESTMENT OF 10% STAKE IN COAL INDIA. THE IPO IS BILLED AS THE COUNTRY'S LARGEST ISSUE EVER.
TODAY WE MAY SEE MARKETS TO TRADE VOLATILE AND RANGE BOUND UNLESS AND BE VERY STOCK SPECIFIC. TODAY IF NIFTY TRADES ABOVE 6050 THEN WE CAN SEE NIFTY TO MOVE UP TO 6080 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO NEW HIGHS THOUGH 6100 WOULD ACT AS A GREAT RESISTANCE. ON THE NEGATIVE SIDE IF NIFTY TRADE BELOW 6009 THEN WOULD TAKE NIFTY TO 5987 AND THEN TO 5960 LEVELS AND ANY BREAK BELOW THIS POINT WOULD BE NEGATIVE FOR MARKETS IN THE NEAR TERM. AVOID HUGE BUYING AS WE ARE HEADING TOWARDS THE EXPIRY.
TODAY WE MAY SEE MARKETS TO TRADE VOLATILE AND RANGE BOUND UNLESS AND BE VERY STOCK SPECIFIC. TODAY IF NIFTY TRADES ABOVE 6050 THEN WE CAN SEE NIFTY TO MOVE UP TO 6080 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO NEW HIGHS THOUGH 6100 WOULD ACT AS A GREAT RESISTANCE. ON THE NEGATIVE SIDE IF NIFTY TRADE BELOW 6009 THEN WOULD TAKE NIFTY TO 5987 AND THEN TO 5960 LEVELS AND ANY BREAK BELOW THIS POINT WOULD BE NEGATIVE FOR MARKETS IN THE NEAR TERM. AVOID HUGE BUYING AS WE ARE HEADING TOWARDS THE EXPIRY.
POSITIONAL TRADES
BUY EDSERV TGT 350/500
