GOOD MORNING!!!
MARKETS WERE VERY VOLATILE RIGHT FROM THE ONSET OF THE TRADE. INDICES HOVERED UP AND DOWN AND LATE IN THE AFTERNOON MARKETS STARTED AGAIN TO MOVE UP BUY COULD NOT MANAGE TO HOLD THE GAINS AND STARTED GIVING OFF ON PROFIT BOOKING NOTE ON A VOLATILE SESSION AT THE END AND CLOSED ON LOWER LOWS OF THE MARKET. THOUGH MARKETS WERE NEGATIVE MIDCAP STOCKS HAVE OUTPERFORMED. THERE WAS ONLY STOCK SPECIFIC MOVES SEEN IN THE ENTIRE DAY IN ALL THE SESSIONS. ADAG SHARES HAVE HOGGED THE LIMELIGHT AND WERE AMONG THE BEST CONTRIBUTORS IN THE MARKET WITH RELIANCE CAPITAL, RNRL, RPOWER, RELIANCE INFRA AND RELIANCE MEDIA. RELIANCE MEDIA SURGING AS HIGH AS 40% IN A SINGLE DAY AND CLOSED AROUND 37%. BREADTH OF THE MARKET WAS NEGATIVE BUT MARKETS STILL ON A POSITIVE ZONE.
TODAY NIFTY MAY OPEN POSITIVE TRACKING STRONG CLOSING FROM US AND EUROPEAN MARKETS AND POSITIVE OPENING OF ASIAN MARKETS. THOUGH MARKETS CLOSED IN A WEAK TERRITORY ON THE LAST DAY GLOBAL CUES MAY CHANGE THE BREADTH OF THE MARKET. TODAY IF NIFTY TRADES ABOVE 6186 THEN LIKELY TO MOVE UP TO 6214 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6225 LEVELS AND BREACH ABOVE THIS POINT WOULD TAKE A STRONG RESISTANCE AT 6250 LEVELS, ANY CLOSE ABOVE 6225 WOULD BE CONSIDERED TO BE A POSITIVE CLOSING AND WE MAY HEAD HIGHER AND BREACH ALL RECENT HIGHS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 6168 THEN WE CAN SEE NIFTY TO DIP DOWN TO 6150 LEVELS AND BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 6100 LEVELS AND ANY CLOSE BELOW 6100 IS CONSIDERED TO BE WEAK AND HEAD TOWARDS MUCH LOWER IN THE NEAR TERM. STAY CAUTIOUS AT EVERY HIGHER LEVELS.
TODAY NIFTY MAY OPEN POSITIVE TRACKING STRONG CLOSING FROM US AND EUROPEAN MARKETS AND POSITIVE OPENING OF ASIAN MARKETS. THOUGH MARKETS CLOSED IN A WEAK TERRITORY ON THE LAST DAY GLOBAL CUES MAY CHANGE THE BREADTH OF THE MARKET. TODAY IF NIFTY TRADES ABOVE 6186 THEN LIKELY TO MOVE UP TO 6214 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6225 LEVELS AND BREACH ABOVE THIS POINT WOULD TAKE A STRONG RESISTANCE AT 6250 LEVELS, ANY CLOSE ABOVE 6225 WOULD BE CONSIDERED TO BE A POSITIVE CLOSING AND WE MAY HEAD HIGHER AND BREACH ALL RECENT HIGHS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 6168 THEN WE CAN SEE NIFTY TO DIP DOWN TO 6150 LEVELS AND BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 6100 LEVELS AND ANY CLOSE BELOW 6100 IS CONSIDERED TO BE WEAK AND HEAD TOWARDS MUCH LOWER IN THE NEAR TERM. STAY CAUTIOUS AT EVERY HIGHER LEVELS.
BUY SINTEX SL 430 TGT 451/464/470
BUY RELIANCE CAPITAL SL 854 TGT 870/880/897
BUY ABAN SL 892 TGT 909/916/924
BUY POWER GRID SL 111 TGT 112.65/113.75/114.35 (SHORT TERM 123)
POSITIONAL TRADES
BUY RIIL TGT 1200/1400
BUY ABG SHIPYARD TGT 380
BUY ORCHID TGT 500
