GOOD MORNING!!!
INDICES PARED GAINS, SOON AFTER AN INITIAL SURGE TRIGGERED BY FIRM ASIAN STOCKS. THE MARKET SLIPPED INTO THE RED LATER. THE MARKET HIT A FRESH INTRADAY LOW IN MID-MORNING TRADE. AND SELL OFF CONTINUED IN THE AFTERNOON TRADE ON TRACKING REVERSAL OF EARLY GAINS EUROPEAN STOCKS AND TRADERS ROLLED OVER THEIR POSITIONS FROM THE CURRENT MONTH TO THE NEXT MONTH AHEAD OF EXPIRY. THE MARKET HIT A FRESH INTRADAY LOW IN THE LATE TRADE. THE BREADTH OF THE MARKETS WAS WEAK IN THE CONTRAST TO THE STRONG BREADTH EARLIER IN THE DAY. TATA MOTORS, INFOSYS HIT RECORD HIGHS IN THE TRADE. PROFIT TAKING WAS SEEN IN COUNTERS LIKE METALS, REALITY, CONSUMER DURABLES AND FMCG STOCKS WE HAVE SEEN ALL THE SECTORAL INDICES IN RED EXPECT FOR THE IT INDUSTRY. STERLITE INDUSTRIES TUMBLED AFTER THE MADRAS HIGH COURT ORDERED CLOSURE OF STERLITE INDUSTRIES COPPER SMELTING PLANT AT TUTICORIN AS THE COMPANY HAS FAILED TO COMPLY WITH ENVIRONMENTAL NORMS. MARKET ENTERED INTO NEGATIVE ZONE AND CLOSED AT LOWER LOWS WHICH INDICATED NEGATIVE CLOSING.
TODAY MARKET WOULD BE HIGHLY VOLATILE AND RANGE BOUND, WE MAY WITNESS A BOUT OF VOLATILITY IN THE TRADE AS TODAY BEING THE EXPIRY OF THE CURRENT MONTH CONTRACT. WE MAY SEE NIFTY TO OPEN NEGATIVE AS NIFTY HAS CLOSED AT LOWER LOWS WHICH INDICATES WEAKNESS ON TECHNICAL PARAMETERS. WE MAY TECHNICALLY FORESEE NIFTY TO COME DOWN FURTHER. IF NIFTY TRADES BELOW 5990 THEN LIKELY TO COME DOWN TO 5954 AND BREAK BELOW THIS LEVEL 5921 LEVELS. ON THE POSITIVE SIDE WE MAY SEE UPMOVE ONLY IF NIFTY TRADE ABOVE 6011, ON CROSSING THIS LEVEL WE MAY SEE NIFTY TO MOVE UP TO 6037 LEVELS AND BREAK ABOVE THIS WOULD TAKE TO 6054 AND ANY CLOSE ABOVE THIS WE WOULD HEAD UP TO 6150 LEVELS. WE MAY SEE SOME STOCK SPECIFIC ACTIVITY TO HOG THE LIMELIGHT OF THE TRADERS ON THE LAST DAY OF EXPIRY.
TODAY MARKET WOULD BE HIGHLY VOLATILE AND RANGE BOUND, WE MAY WITNESS A BOUT OF VOLATILITY IN THE TRADE AS TODAY BEING THE EXPIRY OF THE CURRENT MONTH CONTRACT. WE MAY SEE NIFTY TO OPEN NEGATIVE AS NIFTY HAS CLOSED AT LOWER LOWS WHICH INDICATES WEAKNESS ON TECHNICAL PARAMETERS. WE MAY TECHNICALLY FORESEE NIFTY TO COME DOWN FURTHER. IF NIFTY TRADES BELOW 5990 THEN LIKELY TO COME DOWN TO 5954 AND BREAK BELOW THIS LEVEL 5921 LEVELS. ON THE POSITIVE SIDE WE MAY SEE UPMOVE ONLY IF NIFTY TRADE ABOVE 6011, ON CROSSING THIS LEVEL WE MAY SEE NIFTY TO MOVE UP TO 6037 LEVELS AND BREAK ABOVE THIS WOULD TAKE TO 6054 AND ANY CLOSE ABOVE THIS WE WOULD HEAD UP TO 6150 LEVELS. WE MAY SEE SOME STOCK SPECIFIC ACTIVITY TO HOG THE LIMELIGHT OF THE TRADERS ON THE LAST DAY OF EXPIRY.
BUY AQUA LOGISTICS ABOVE 660 SL 654 TGT 669/677/690
BUY ALSTOM PROJECTS SL 808 TGT 820/828/833
BUY LITL SL 71.4 TGT 72.7/73.3/74
BUY TINPLATE SL 85 TGT 87.3/88.5/89.25
BUY NELCAST SL 95 TGT 100/104/106.7
