GOOD MORNING!!!
INDICES DECLINED, SOON AFTER HITTING FRESH INTRADAY HIGHS AFTER RBI DEPUTY GOVERNOR SUBIR GOKARN SAID SURGING FOOD PRICES ARE STRUCTURAL AND WILL PUT UPWARD PRESSURE ON INFLATION AND INTEREST RATES. THE MARKET RECOVERED FROM LOWER LEVEL, SOON AFTER HITTING A FRESH INTRADAY LOW IN EARLY AFTERNOON TRADE. THE SELLING PRESSURE INTENSIFIED IN AFTERNOON TRADE AS THE MARKET WEAKENED ONCE AGAIN. THE MARKET CAME OFF THE DAY'S LOW IN MID-AFTERNOON TRADE. THE MARKET AGAIN WEAKENED IN LATE TRADE. INDICES EDGED LOWER IN A CHOPPY TRADING SESSION AS WEAK GLOBAL STOCKS WEIGHED ON INVESTOR SENTIMENT. THE MARKET BREADTH WAS NEGATIVE, COMPARED WITH A STRONG BREADTH EARLIER IN THE DAY. BANKING AND METAL STOCKS FELL. AUTO STOCKS BUCKED THE WEAK MARKET. STOCKS WERE VOLATILE AS TRADERS ROLLED OVER POSITIONS IN THE DERIVATIVES SEGMENT FROM THE NEAR-MONTH OCTOBER 2010 SERIES TO NOVEMBER 2010 SERIES AHEAD OF THE EXPIRY OF THE OCTOBER 2010 CONTRACTS.
TODAY MARKETS LOOKS FLAT TO NEGATIVE ON THE OPENING BASIS TRACKING WEAK CLOSING OF EUROPEAN MARKETS AND FLAT CLOSING OF AMERICAN MARKETS. WE MAY SEE NIFTY TO BE RANGE BOUND IN TODAYS TRADE AS WE ARE IN THE LAST LEGS OF CONTRACT CLOSING FOR THE CURRENT MONTH. IF NIFTY TRADES BELOW 6087 THEN LIKELY TO MAKE ITS DOWNWARD JOURNEY TO 6060 AND BREAK BELOW THIS LEVEL WOULD DRAG NIFTY DOWN TO 6016. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 6038 THEN WE CAN SEE NIFTY TO MOVE UP TO 6055 BREAK ABOVE THIS POINT WILL TAKE IT FURTHER UPSIDE TO 6080 LEVELS AND ANY CLOSE ABOVE THIS POINT ONE CAN SEE NIFTY TO MOVE HIGHER. IF NIFTY TRADES ABOVE 6087 ONE CAN SEE THAT NIFTY IS ON THE POSITIVE WAVE AND ONE CAN REMAIN LONG ON EVERY DECLINE BUT IF NIFTY CLOSES BELOW 6087 THEN ONE IS ADVISED TO EXIT LONGS AND GO SHORT.
BUY DENA BANK SL 136.80 TGT 142/146/148
BUY TRIVENI SL 121.40 TGT 124/125.70/126.70 (SHORT TERM 150)
BUY FIRST LEASING SL 86.30 TGT 91/94/98
BUY JINDAL POLYFILMS SL 666 TGT 683/699/708
BUY TATA ELXSI SL 289 TGT 298/305/309
BUY UCO BANK SL 134 TGT 136.40/137.60/138.65
POSITIONAL TRADES
BUY SUBEX TGT 85
INDICES DECLINED, SOON AFTER HITTING FRESH INTRADAY HIGHS AFTER RBI DEPUTY GOVERNOR SUBIR GOKARN SAID SURGING FOOD PRICES ARE STRUCTURAL AND WILL PUT UPWARD PRESSURE ON INFLATION AND INTEREST RATES. THE MARKET RECOVERED FROM LOWER LEVEL, SOON AFTER HITTING A FRESH INTRADAY LOW IN EARLY AFTERNOON TRADE. THE SELLING PRESSURE INTENSIFIED IN AFTERNOON TRADE AS THE MARKET WEAKENED ONCE AGAIN. THE MARKET CAME OFF THE DAY'S LOW IN MID-AFTERNOON TRADE. THE MARKET AGAIN WEAKENED IN LATE TRADE. INDICES EDGED LOWER IN A CHOPPY TRADING SESSION AS WEAK GLOBAL STOCKS WEIGHED ON INVESTOR SENTIMENT. THE MARKET BREADTH WAS NEGATIVE, COMPARED WITH A STRONG BREADTH EARLIER IN THE DAY. BANKING AND METAL STOCKS FELL. AUTO STOCKS BUCKED THE WEAK MARKET. STOCKS WERE VOLATILE AS TRADERS ROLLED OVER POSITIONS IN THE DERIVATIVES SEGMENT FROM THE NEAR-MONTH OCTOBER 2010 SERIES TO NOVEMBER 2010 SERIES AHEAD OF THE EXPIRY OF THE OCTOBER 2010 CONTRACTS.
TODAY MARKETS LOOKS FLAT TO NEGATIVE ON THE OPENING BASIS TRACKING WEAK CLOSING OF EUROPEAN MARKETS AND FLAT CLOSING OF AMERICAN MARKETS. WE MAY SEE NIFTY TO BE RANGE BOUND IN TODAYS TRADE AS WE ARE IN THE LAST LEGS OF CONTRACT CLOSING FOR THE CURRENT MONTH. IF NIFTY TRADES BELOW 6087 THEN LIKELY TO MAKE ITS DOWNWARD JOURNEY TO 6060 AND BREAK BELOW THIS LEVEL WOULD DRAG NIFTY DOWN TO 6016. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 6038 THEN WE CAN SEE NIFTY TO MOVE UP TO 6055 BREAK ABOVE THIS POINT WILL TAKE IT FURTHER UPSIDE TO 6080 LEVELS AND ANY CLOSE ABOVE THIS POINT ONE CAN SEE NIFTY TO MOVE HIGHER. IF NIFTY TRADES ABOVE 6087 ONE CAN SEE THAT NIFTY IS ON THE POSITIVE WAVE AND ONE CAN REMAIN LONG ON EVERY DECLINE BUT IF NIFTY CLOSES BELOW 6087 THEN ONE IS ADVISED TO EXIT LONGS AND GO SHORT.
BUY DENA BANK SL 136.80 TGT 142/146/148
BUY TRIVENI SL 121.40 TGT 124/125.70/126.70 (SHORT TERM 150)
BUY FIRST LEASING SL 86.30 TGT 91/94/98
BUY JINDAL POLYFILMS SL 666 TGT 683/699/708
BUY TATA ELXSI SL 289 TGT 298/305/309
BUY UCO BANK SL 134 TGT 136.40/137.60/138.65
POSITIONAL TRADES
BUY SUBEX TGT 85
