GOOD MORNING!!!
KEY INDICES EDGED HIGHER AFTER TWO DECLINING DAYS. WORLD STOCKS ROSE ON THE ANTICIPATION OF US FED RESERVE WILL STEP INTO BOOST THE ECONOMY, THE MARKET SURGED IN EARLY TRADE, TRACKING HIGHER ASIAN STOCKS. THE SENSEX PARED GAINS SOON AFTER AN INITIAL SURGE, THE MARKETS FURTHER WEAKENED IN MID MORNING TRADE WHEN COMPARED TO THE INITIAL OPENING OF THE TRADE, MARKETS EXTENDED GAINS IN THE LATE AFTERNOON TRACKING EUROPEAN INDICES. MID CAP AND SMALL CAP INDICES OUTPERFORMED SENSEX. THE BREADTH OF THE MARKET WAS STRONG. EUROPEAN MARKETS EDGED HIGHER WEAKER THAN EXPECTED US JOBS DATA FUELLED EXPECTATIONS THAT THE US FEDERAL RESERVE WILL EMBARK ON A SECOND ROUND OF QUANTITATIVE EASING TO SUPPORT THE ECONOMY.
TODAY WE MAY TRADE IN A RANGE BOUND AND STOCK SPECIFIC MOVES EXPECTED THOUGH THERE IS NOTHING GREAT VALUE IN FRONT END COUNTERS WE HAVE LOT OF MOVEMENT TO BE EXPECTED IN MIDCAPS. ALL EYES ARE ON Q2 AND IIP NUMBERS. ONE IS ADVISED TO BE CAREFULLY CHOOSE THE STOCKS. IF NIFTY TRADES ABOVE 6176 THEN ONE CAN SEE NIFTY TO MOVE UP TO 6197 LEVELS AND ANY BREAK ABOVE THIS POINT AND CROSSING 6200 WE WOULD SEE FURTHER GAINS IN NIFTY AND MAY RESIST AROUND 6214 AND ANY UPMOVE SUPPORTED BY VOLUMES WOULD TAKE IT TO 6248 LEVELS ANY CLOSE ABOVE 6200 IS CONSIDERED TO BE BULLISH. ON THE NEGATIVE SIDE IF NIFTY TRADE BELOW 6155 THEN LIKELY TO DIP DOWN TO 6120 AND BREAK BELOW THIS LEVEL WOULD TAKE SUPPORT AROUND 6104 LEVELS AND FURTHER BREACH BELOW PSYCHOLOGICAL LEVELS OF 6100 WOULD PUT NIFTY UNDER PRESSURE AND CAN SLIDE DOWN TO 6068 LEVELS. WE MAY SEE VERY STOCK SPECIFIC MOVES IN MIDCAPS AND WATCH OUT FOR FERTILIZER STOCKS. BE CAUTIOUS ON THE HIGHER SIDE OF THE MARKETS.
TODAY WE MAY TRADE IN A RANGE BOUND AND STOCK SPECIFIC MOVES EXPECTED THOUGH THERE IS NOTHING GREAT VALUE IN FRONT END COUNTERS WE HAVE LOT OF MOVEMENT TO BE EXPECTED IN MIDCAPS. ALL EYES ARE ON Q2 AND IIP NUMBERS. ONE IS ADVISED TO BE CAREFULLY CHOOSE THE STOCKS. IF NIFTY TRADES ABOVE 6176 THEN ONE CAN SEE NIFTY TO MOVE UP TO 6197 LEVELS AND ANY BREAK ABOVE THIS POINT AND CROSSING 6200 WE WOULD SEE FURTHER GAINS IN NIFTY AND MAY RESIST AROUND 6214 AND ANY UPMOVE SUPPORTED BY VOLUMES WOULD TAKE IT TO 6248 LEVELS ANY CLOSE ABOVE 6200 IS CONSIDERED TO BE BULLISH. ON THE NEGATIVE SIDE IF NIFTY TRADE BELOW 6155 THEN LIKELY TO DIP DOWN TO 6120 AND BREAK BELOW THIS LEVEL WOULD TAKE SUPPORT AROUND 6104 LEVELS AND FURTHER BREACH BELOW PSYCHOLOGICAL LEVELS OF 6100 WOULD PUT NIFTY UNDER PRESSURE AND CAN SLIDE DOWN TO 6068 LEVELS. WE MAY SEE VERY STOCK SPECIFIC MOVES IN MIDCAPS AND WATCH OUT FOR FERTILIZER STOCKS. BE CAUTIOUS ON THE HIGHER SIDE OF THE MARKETS.
BUY RECLTD SL 398 TGT 406/411/415
BUY UFLEX SL 252 TGT 263/270/274
BUY JINDAL POLY SL 1266 TGT 1342/1390/1421
BUY NAGARJUNA FERTILIZERS SL 33.80 TGT 34.95/35.70/36.10
BUY CHAMBAL FERTILIZERS SL 81 TGT 84/86/88
OPTIONS : BUY HERO HONDA 1900 CA BELOW 30 TGT 100/125/150 (MAXIMUM RISK IS 125*30 = 3750)
POSITIONAL TRADES
BUY KS OILS TGT 65
BUY REI AGRO TGT 30
