GOOD MORNING!!!
MARKETS WERE VERY VOLATILE. THE MARKET SLIPPED INTO THE RED, SOON AFTER A POSITIVE STARTS AS WEAK ASIAN STOCKS WEIGHED ON SENTIMENT. THE MARKET CAME OFF LOWS LATER. THE MARKET HOVERED IN NEGATIVE ZONE IN MID-MORNING TRADE. THE MARKET ERASED ALMOST ALL THE INITIAL LOSSES IN EARLY AFTERNOON TRADE AND STOCKS MOVED IN A NARROW RANGE IN AFTERNOON TRADE. INDICES STAGED A SOLID COMEBACK IN LATE TRADE TO STRIKE THE DAY'S HIGH LED BY RALLY IN ICICI BANK, WHICH JUMPED AFTER POSTING FORECAST-BEATING Q2 RESULTS. THE MARKET BREADTH, INDICATING THE HEALTH OF THE MARKET WAS WEAK. THE BREADTH WAS POSITIVE IN OPENING TRADE. THE FOCUS OF THE MARKET IS CURRENTLY ON THE SECOND QUARTER SEPTEMBER 2010 RESULTS. THE RESULTS ANNOUNCED SO FAR HAVE BEEN ENCOURAGING. THE COMBINED NET PROFIT OF A TOTAL OF 969 FIRMS SURGED 47.50% TO RS 63276 CRORE ON 18.20% GROWTH IN SALES TO RS 386044 CRORE IN Q2 SEPTEMBER 2010 OVER Q2 SEPTEMBER 2009.
TODAY NIFTY WOULD OPEN POSITIVE BUT MAY REMAIN UNDER PRESSURE UNLESS AND LEVELS MENTIONED BELOW ARE BREACHED. IF NIFTY TRADES 6051 THEN LIKELY TO MAKE ITS UP MOVE TO 6072 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6098 LEVELS AND ANY CLOSE ABOVE 6100 WOULD TAKE NIFTY TO NEW LEVELS AND TURN THE NEGATIVE WAVE IN NIFTY TO POSITIVE WAVE. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 6035 THEN LIKELY TO MADE A DOWN MOVE TO 6011 LEVELS AND BREAK BELOW THIS LEVEL MAY TAKE A PSYCHOLOGICAL SUPPORT AT 6000 AND BREAK BELOW THIS LEVEL WILL DRAG NIFTY TO 5967 LEVELS. ONE IS ADVISED TO BE WITH THE TREND. WE CAN SEE FEW STOCK SPECIFIC MOVES.
BUY GLENMARK PHARMA SL 336.40 TGT 347/352/356
BUY JSW STEEL SL 1337 TGT 1360/1373/1385
BUY FIE MINDS SL 211 TGT 218/222/225
BUY SONATA SOFTWARES SL 59 TGT 61/62/63.55
TODAY NIFTY WOULD OPEN POSITIVE BUT MAY REMAIN UNDER PRESSURE UNLESS AND LEVELS MENTIONED BELOW ARE BREACHED. IF NIFTY TRADES 6051 THEN LIKELY TO MAKE ITS UP MOVE TO 6072 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6098 LEVELS AND ANY CLOSE ABOVE 6100 WOULD TAKE NIFTY TO NEW LEVELS AND TURN THE NEGATIVE WAVE IN NIFTY TO POSITIVE WAVE. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 6035 THEN LIKELY TO MADE A DOWN MOVE TO 6011 LEVELS AND BREAK BELOW THIS LEVEL MAY TAKE A PSYCHOLOGICAL SUPPORT AT 6000 AND BREAK BELOW THIS LEVEL WILL DRAG NIFTY TO 5967 LEVELS. ONE IS ADVISED TO BE WITH THE TREND. WE CAN SEE FEW STOCK SPECIFIC MOVES.
BUY GLENMARK PHARMA SL 336.40 TGT 347/352/356
BUY JSW STEEL SL 1337 TGT 1360/1373/1385
BUY FIE MINDS SL 211 TGT 218/222/225
BUY SONATA SOFTWARES SL 59 TGT 61/62/63.55
POSITIONAL TRADES
BUY TITAN INDS TGT 4500/5500
BUY ESSAR OIL TGT 175/190
BUY RANE HOLDINGS TGT 500/700
BUY REI AGRO TGT 30/37
BUY CUMMINS TGT 1000/1250*
BUY GSPL TGT 145/200*
BUY ESSAR OIL TGT 175/190
BUY RANE HOLDINGS TGT 500/700
BUY REI AGRO TGT 30/37
BUY CUMMINS TGT 1000/1250*
BUY GSPL TGT 145/200*
