GOOD MORNING!!!
THE MARKET OPENED ON A FIRM NOTE, TRACKING GAINS IN ASIAN STOCKS. THE MARKET EXTENDED GAINS IN MID-MORNING TRADE. THE MARKET HELD FIRM IN EARLY AFTERNOON TRADE. INDICES SCALED FRESH INTRADAY HIGH IN AFTERNOON TRADE. THE MARKET HELD FIRM IN MID-AFTERNOON TRADE. THE MARKET PARED GAINS ON PROFIT BOOKING IN LATE TRADE. INDICES LOGGED STRONG GAINS AS LATEST DATA SHOWING SURGE IN MANUFACTURING ACTIVITY IN OCTOBER 2010, GOOD Q2 SEPTEMBER 2010 RESULTS, AND FIRM GLOBAL STOCKS BOOSTED INVESTOR SENTIMENTS. AS TRADING REMAINED SUSPENDED ON BSE FOR ABOUT TWO-AND-A-HALF HOURS BETWEEN 12:00 IST AND 14:30 IST DUE TO A TECHNICAL SNAG. TRADING CONTINUED ON NSE AS USUAL DURING THAT PERIOD. DUE TO CLOSURE OF TRADING FOR MORE THAN TWO HOURS, TURNOVER ON BSE DECLINED SHARPLY TO RS 1957 CRORE FROM RS 5,018.07 ON FRIDAY, 29 OCTOBER 2010.
TODAY NIFTY MAY OPEN FLAT AND WOULD BE RANGE BOUND IF NIFTY TRADES ABOVE 6166 THEN LIKELY TO MOVE UP TO 6180 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6211. AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 6138 THEN LIKELY TO COME DOWN TO 6120 AND BREAK BELOW THIS LEVEL WOULD DRAG NIFTY DOWN TO 6090 LEVELS AND ANY CLOSE BELOW WOULD SLIDE DOWN NIFTY TO 6060 LEVELS. ONE SHOULD BE VERY CAUTIOUS AS TODAY IS RBI MEET WHICH IS VERY CRUCIAL IN THE MARKETS, DECISION FROM RBI WOULD DETERMINE THE TREND OF THE MARKETS. SO ONE SHOULD PLAY CAUTIOUSLY.
BUY INDIABULLS SL 229.50 TGT 237/241/245 (SHORT TERM 300)*
BUY FEDERAL BANK SL 488 TGT 498/505/510 (SHORT TERM 600)
BUY INGVYSYA SL 434.90 TGT 448/457/463
BUY TITAN SL 3772 TGT 3840/3873/3900
