GOOD MORNING!!!
INDICES HAD A SERIOUS BLOW AFTER A CONTINUAL UPSIDE RALLY QUITE A LONG TIME IN THE INDIAN MARKETS. INDICES PAIRED ITS INITIAL GAINS AS THE STOCKS LED THE SELL-OFF AFTER SECTOR BELLWETHER INFOSYS ANNOUNCED RESULTS BEFORE TRADING HOUR. SENSEX WAS ALMOST DOWN BY 400 POINTS AND CLOSED ALMOST ON THE LOWS OF THE DAY. THE MARKET BREADTH WAS WEAK THOUGH THE START WAS VERY POSITIVE IN THE MARKETS, MARKETS COULDN’T HOLD IT QUITE A LONG AND TURNED VERY WEAK AS THE DAY PASSED BY. ALL THE SECTORAL INDICES SUFFERED SERIOUS BLOWS NO SECTOR WAS IN GREEN. IT, BANKING AND METAL WERE THE WORST HIT AMONGST REST OF THE SECTORAL INDICES. ADDING TO THE PROFIT BOOKING, COAL INDIA IPO HAS SUCKED AWAY SOME LIQUIDITY IN THE MARKETS FOR THE MEGA PUBLIC OFFER.
TODAY WE ARE ENTERING TO A NEW METHOD OF TRADING WHICH IS LIKELY TO REMOVE THE NOISY TRADES IN THE MARKETS, THIS NEW METHOD OF TRADING IS FOR ARRIVING TO THE OPENING PRICE IN THE NIFTY. A VERY GOOD CONCEPT WHICH WILL SAFE GUARD A COMMON MANS INTEREST IN THE MARKETS. AS SEEN IN THE LAST TRADING SESSION WE MAY STILL SEE SOME MORE PRESSURE ADDING IN THE MARKETS FOR ANOTHER COUPLE OF DAYS FOR THE COAL INDIA IPO. THIS MEGA IPO MAY SUCK OUT SOME MORE LIQUIDITY FROM THE MARKETS. TODAY IF NIFTY TRADES BELOW 6075 THEN LIKELY TO CONTINUE ITS DOWNSIDE MOVE TO 6042 LEVELS AND BREACH BELOW THIS LEVEL WOULD TAKE FURTHER DOWN TO 6000 LEVELS AND ANY BREAK BELOW THIS LEVEL WE CAN SEE NIFTY TO COME DOWN TO 5970 LEVELS, ANY CLOSE BELOW 6000 IS CONSIDERED TO BE VERY WEAK. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 6115 THEN LIKELY TO MOVE UP AND MAY FACE RESISTANCE AROUND 6140 LEVELS AND THEN 6186 LEVELS. ANY TRADE ABOVE 6180 MAY TURN MARKET SENTIMENT TO POSITIVE FROM THE CURRENT NEGATIVE SENTIMENT. WE MAY SEE LOT OF PRESSURE IN THE MARKET TO CONTINUE AND STOCK SPECIFIC MOVE IS EXPECTED, STAY CAUTIOUS.
TODAY WE ARE ENTERING TO A NEW METHOD OF TRADING WHICH IS LIKELY TO REMOVE THE NOISY TRADES IN THE MARKETS, THIS NEW METHOD OF TRADING IS FOR ARRIVING TO THE OPENING PRICE IN THE NIFTY. A VERY GOOD CONCEPT WHICH WILL SAFE GUARD A COMMON MANS INTEREST IN THE MARKETS. AS SEEN IN THE LAST TRADING SESSION WE MAY STILL SEE SOME MORE PRESSURE ADDING IN THE MARKETS FOR ANOTHER COUPLE OF DAYS FOR THE COAL INDIA IPO. THIS MEGA IPO MAY SUCK OUT SOME MORE LIQUIDITY FROM THE MARKETS. TODAY IF NIFTY TRADES BELOW 6075 THEN LIKELY TO CONTINUE ITS DOWNSIDE MOVE TO 6042 LEVELS AND BREACH BELOW THIS LEVEL WOULD TAKE FURTHER DOWN TO 6000 LEVELS AND ANY BREAK BELOW THIS LEVEL WE CAN SEE NIFTY TO COME DOWN TO 5970 LEVELS, ANY CLOSE BELOW 6000 IS CONSIDERED TO BE VERY WEAK. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 6115 THEN LIKELY TO MOVE UP AND MAY FACE RESISTANCE AROUND 6140 LEVELS AND THEN 6186 LEVELS. ANY TRADE ABOVE 6180 MAY TURN MARKET SENTIMENT TO POSITIVE FROM THE CURRENT NEGATIVE SENTIMENT. WE MAY SEE LOT OF PRESSURE IN THE MARKET TO CONTINUE AND STOCK SPECIFIC MOVE IS EXPECTED, STAY CAUTIOUS.
BUY PITTILAMINATION SL 49.4 TGT 52.30/53.90/54.80 (SHORT TERM 70/81)
BUY ORCHID ABOVE 314 SL 309.40 TGT 319/326/330
BUY NAGARJUNA FERT SL 35.40 TGT 36.40/36.90/37.65 (SHORT TERM 45)
BUY INDIA GLYCOLS SL 178 TGT 187/193/200 (SHORT TERM 260)
POSITIONAL TRADES
BUY VST INDUSTRIES TGT 700
