GOOD MORNING!!!
THE MARKET MOVED BETWEEN POSITIVE AND NEGATIVE TERRAIN IN EARLY TRADE. IT SLUMPED TO INTRA-DAY LOW IN MORNING TRADE. THE MARKET EXTENDED LOSSES TO HIT FRESH INTRA-DAY LOW IN MID-MORNING TRADE. THE MARKET PARED LOSSES AFTER HITTING FRESH INTRADAY LOW IN EARLY AFTERNOON TRADE. THE INTRADAY RECOVERY GATHERED STEAM IN AFTERNOON TRADE. THE MARKET WEAKENED ONCE AGAIN AFTER TURNING POSITIVE FOR A BRIEF PERIOD IN MID-AFTERNOON TRADE. IT REVERSED LOSSES TO HIT FRESH INTRADAY HIGH IN LATE TRADE. INDICES REVERSED LOSSES TO HIT FRESH INTRADAY HIGHS IN LATE TRADE. INTRADAY VOLATILITY WAS HIGH AS TRADERS ROLLED OVER POSITIONS IN THE DERIVATIVES SEGMENT, FROM THE NEAR-MONTH SEPTEMBER 2010 SERIES, TO OCTOBER 2010 SERIES, AHEAD OF THE EXPIRY. BANKING, METAL AND FMCG LED THE LATE REBOUND. BANKING MAJOR STATE BANK OF INDIA HIT RECORD HIGH. VOLATALITY WAS AT ITS PEAK DURING THE ENTIRE TRADE.
TODAY MARKETS HAVE ENTERED IN A FRESH CONTRACTS, WE MAY HAVE SOME KIND OF CONSOLIDATION IF IT HAS TO BREAK ON THE UPSIDE FROM HERE ON, IF NIFTY TRADES ABOVE 6048 THEN LIKELY TO MOVE UP 6075 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6094 LEVELS AND ANY BREAK OF PSYCHOLOGICAL FIGURE OF 6100 LIKELY TO TAKE NIFTY TO 6156 ON IMMEDIATE BASIS AND ANY CLOSE ABOVE 6050 IS ASLO CONSIDERED TO BE BULLISH. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 6011 THEN LIKELY TO MAKE ITS MOVE TO 5990 AND BREAK BELOW THIS LEVEL WOULD TAKE IT TO 5967 AND CLOSE BELOW 5960 IS CONSIDERED TO BE VERY WEAK.
BUY JAYSHREE TEA SL 200 TGT 204/207/210
BUY DCM LTD SL 126 TGT 131.7/134.6/140
BUY LIBERTY SHOES SL 110 TGT 114.7/116.5/119.40
POSITIONAL TRADES
BUY TERA SOFTWARE TGT 56/66**
