GOOD MORNING!!!
LIGHTENING RALLY IN THE MARKETS WAS WITNESSED RIGHT FROM THE BEGINNING OF THE DAY. KEY INDICES OUT PERFORMED ON THE VERY FIRST DAY OF THE NEW SERIES AND CONTINUED TO MOVE FORWARD INCH BY INCH TILL THE END OF THE TRADING SESSION AND CLOSED AT HIGHER HIGHS. MARKET HIT FRESH HIGHS OF 32 AND HALF MONTHS. MARKET WAS FURTHER SUPPORTED BY GLOBAL STOCKS WITH HAS UNDERPINNED THE SENTIMENT. AUTO, CONSUMER DURABLES, CAPITAL GOODS, METAL AND REALITY STOCKS LED THE RALLY ALL THE SECTORAL INDICES HAVE OUT PERFORMED ON THE FIRST DAY OF THE OPENING CONTRACT. THE MARKET BREADTH WAS STRONG AT THE OPENING AND BECAME MUCH STRONGER AS THE TRADING WENT BY AND CLOSED ON A VERY STRONG NOTE. FOREIGN FUNDS CONTINUE TO AGGRESSIVELY MOP UP INDIAN SHARES. FOREIGN INSTITUTIONAL INVESTORS (FIIS) BOUGHT SHARES WORTH A STAGGERING RS 2496.39 CRORE ON THURSDAY, 30 SEPTEMBER 2010, AS PER THE PROVISIONAL DATA FROM THE STOCK EXCHANGES. FII INFLOW IN SEPTEMBER 2010 TOTALED RS 23612.43 CRORE, AS PER DATA FROM THE STOCK EXCHANGES. FII INFLOW IN THE CALENDAR YEAR 2010 TOTALED RS 43107.53 CRORE (TILL 30 SEPTEMBER 2010).
TODAY MARKET LOOKS POSITIVE ON A STRONG CLOSING ON FRIDAY AND POSITIVE CLOSE IN EUROPE AND AMERICAN MARKETS. MARKETS WOULD BE SUPPORTED BY POSITIVE OPENING IN ASIAN MARKETS. IF NIFTY TRADES ABOVE 6185 THEN LIKELY TO FACE RESISTANCE AROUND 6218 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6246 LEVELS, ANY CLOSE ABOVE 6200 IS CONSIDERED TO BE STRONG. ONE IS ADVISED NOT TO SHORT UNTIL CLEAR INDICATION IS SEEN. ON THE NEGATIVE SIDE IF NIFTY TRADES 6165 THEN LIKELY TO COME DOWN TO 6137 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 6105 LEVELS AND ANY CLOSE BELOW 6100 IS CONSIDERED TO BE A LINE OF CAUTION AND ONE IS ADVISED TO EXIT LONGS AND STAY OUT AND ANY CLOSE BELOW 6086 IS CONSIDERED TO BE WEAK AND ONE IS ADVISED TO STAY SHORT ON CLOSING BASIS.
CAUTION: ONE IS ADVISED TO STAY VERY CAUTIOUS IN THE CURRENT MARKETS.
BUY BIRLA CORP SL 427 TGT 440/447/459 (MEDIUM TERM 535)
BUY IDBI SL 157.4 TGT 160/162/165
BUY GLENMARK SL 310 TGT 317/321/324
BUY ESCORTS SL 226 TGT 231/234/236
BUY BHEL SL 2584 TGT 2624/2643/2667 (SHORT TERM 2700)
BUY UNITECH SL 93.80 TGT 96.45/98/100.65
TODAY MARKET LOOKS POSITIVE ON A STRONG CLOSING ON FRIDAY AND POSITIVE CLOSE IN EUROPE AND AMERICAN MARKETS. MARKETS WOULD BE SUPPORTED BY POSITIVE OPENING IN ASIAN MARKETS. IF NIFTY TRADES ABOVE 6185 THEN LIKELY TO FACE RESISTANCE AROUND 6218 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6246 LEVELS, ANY CLOSE ABOVE 6200 IS CONSIDERED TO BE STRONG. ONE IS ADVISED NOT TO SHORT UNTIL CLEAR INDICATION IS SEEN. ON THE NEGATIVE SIDE IF NIFTY TRADES 6165 THEN LIKELY TO COME DOWN TO 6137 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 6105 LEVELS AND ANY CLOSE BELOW 6100 IS CONSIDERED TO BE A LINE OF CAUTION AND ONE IS ADVISED TO EXIT LONGS AND STAY OUT AND ANY CLOSE BELOW 6086 IS CONSIDERED TO BE WEAK AND ONE IS ADVISED TO STAY SHORT ON CLOSING BASIS.
CAUTION: ONE IS ADVISED TO STAY VERY CAUTIOUS IN THE CURRENT MARKETS.
BUY BIRLA CORP SL 427 TGT 440/447/459 (MEDIUM TERM 535)
BUY IDBI SL 157.4 TGT 160/162/165
BUY GLENMARK SL 310 TGT 317/321/324
BUY ESCORTS SL 226 TGT 231/234/236
BUY BHEL SL 2584 TGT 2624/2643/2667 (SHORT TERM 2700)
BUY UNITECH SL 93.80 TGT 96.45/98/100.65
