GOOD MORNING!!!
INDICES OPENED FIRM ON STRONG GAINS AS ASIAN STOCKS SURGED. MARKETS HIT A FRESH 33 MONTH HIGH ON NIFTY THE MARKETS HELD FIRM IN THE MORNING SESSION. STOCKS PARED GAINS IN THE MID MORNING ON PROFIT TAKING ON STRONG RECENT RALLIES. MARKETS FURTHER STARTED WEAKENING TRACKING EUROPEAN STOCKS AND INDEX FUTURES WHICH EDGED LOWER. MARKETS THOUGH VERY STRONG IN THE MORNING GAVE UP AT THE END TURNING A VERY POSITIVE BREADTH TO A WEAK CLOSING AND NEGATIVE BREADTH. RELIANCE INDUSTRIES EDGED HIGHER. BUT, ANOTHER INDEX HEAVYWEIGHT LARSEN & TOUBRO AND INFOSYS FELL. FMCG STOCKS DECLINED. AUTO AND BANKING STOCKS WERE MIXED. ALL IN ALL MARKETS TURNED WEAK AND CLOSED LOWER.
TODAY MARKETS LOOK WEAK AFTER A LONG RUN-UP RIGHT FROM 01 SEPTEMBER WE MAY LIKELY TO RETRACE IF 6248 LEVELS ARE NOT BREACHED FROM THIS LEVEL. IF NIFTY TRADES BELOW 6170 THEN LIKELY TO MAKE ITS DOWN SIDE MOVE TO 6137 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 6092 AND ANY CLOSE BELOW 6100 IS CONSIDERED TO BE WEAK AND LIKELY TO DIP DOWN IN THE NEAR FUTURE, ONE IS ADVISED TO STAY SHORT IF NIFTY TRADES BELOW 6100 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 6211 THEN LIKELY TO MOVE UP TO 6248 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO FURTHER NEW HIGHS AND EVEN CAN BREAK THE HIGHEST LEVELS OF NIFTY IN THE HISTORY. ONE IS ADVISED TO STAY CAUTIOUS AT EVERY HIGHER LEVELS AS THERE IS EVERY POSSIBILITY THAT MARKETS WOULD COME DOWN VERY FAST.
TODAY MARKETS LOOK WEAK AFTER A LONG RUN-UP RIGHT FROM 01 SEPTEMBER WE MAY LIKELY TO RETRACE IF 6248 LEVELS ARE NOT BREACHED FROM THIS LEVEL. IF NIFTY TRADES BELOW 6170 THEN LIKELY TO MAKE ITS DOWN SIDE MOVE TO 6137 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 6092 AND ANY CLOSE BELOW 6100 IS CONSIDERED TO BE WEAK AND LIKELY TO DIP DOWN IN THE NEAR FUTURE, ONE IS ADVISED TO STAY SHORT IF NIFTY TRADES BELOW 6100 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 6211 THEN LIKELY TO MOVE UP TO 6248 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO FURTHER NEW HIGHS AND EVEN CAN BREAK THE HIGHEST LEVELS OF NIFTY IN THE HISTORY. ONE IS ADVISED TO STAY CAUTIOUS AT EVERY HIGHER LEVELS AS THERE IS EVERY POSSIBILITY THAT MARKETS WOULD COME DOWN VERY FAST.
BUY VIP INDS SL 739 TGT 783/809/825
BUY SESAGOA SL 362 TGT 368/373/375
BUY SINTEX SL 399 TGT 404/407/411
BUY GE SHIPPING SL 325 TGT 330/332/334
NOTE: STAY CAUTIOUS IN THE MARKET, FOLLOW STRICT STOPLOSS.
