GOOD MORNING!!!
THE MARKET OPENED ON A POSITIVE NOTE TRACKING HIGHER ASIAN STOCKS. THE MARKET EXTENDED GAINS IN MORNING TRADE. STOCKS WERE VOLATILE; STOCKS CAME OFF HIGHS LATER AND FIRMED UP AGAIN IN MID-MORNING TRADE. THE MARKET ONCE AGAIN CAME OFF HIGHS LATER. THE MARKET REGAINED STRENGTH IN EARLY AFTERNOON TRADE. A BOUT OF VOLATILITY WAS SEEN IN MID-AFTERNOON TRADE AS THE INDICES SLIPPED TO THE DAY'S LOW ONLY TO REBOUND THEREAFTER. VOLATILITY RULED THE ROOST AT THE FAG END OF THE TRADING SESSION AS THE MARKET RECOVERED AFTER HITTING A FRESH INTRADAY LOW. GOOD Q2 SEPTEMBER 2010 RESULTS AND SUSTAINED BUYING BY FOREIGN FUNDS, SUPPORTED STOCK PRICES.
TODAY ONE OF THE MAJOR ISSUE IS LISTING OF COAL INDIA IPO WHICH WOULD CATCH THE ATTENTION OF LOT OF TRADERS. TRADERS CAN TRADE IN COAL INDIA TO MAKE DECENT RETURNS SINCE THE VOLATALITY WOULD TO THE CORE. TODAY WE MAY SEE NIFTY OPENING POSITIVE TRACKING ASIAN MARKETS, IF NIFTY TRADES ABOVE 6211 THEN LIKELY TO MAKE AN UP MOVE TO 6249 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6285 LEVELS AND ANY CLOSE ABOVE 6285 INDICATES THAT MARKET WOULD BREAK NEW HIGHS OF THE YEAR AND LIKELY TO MOVE UP MUCH HIGHER. ON THE NEGATIVE SIDE ONE IS ADVISED TO STAY CAUTIOUS AND IF NIFTY TRADES BELOW 6174 THEN LIKELY TO MAKE ITS MOVE DOWNSIDE TO 6140 AND BREAK BELOW THIS LEVEL WOULD TAKE IT TO 6104 AND ANY CLOSE BELOW 6140 IS CONSIDERED TO BE WEAK AND WILL CONTINUE TO BE UNDER PRESSURE IN THE DAYS AHEAD. ONE IS ADVISED TO STAY CAUTIOUS FROM HERE ON. STOCK SPECIFIC MOVES CAN BE VERY VIOLENT AND TRY TO PLAY IN THE STOCKS WHICH ARE FUNDAMENTALLY STRONG MIDCAPS AND WHICH HAVE NOT MOVED IN THE RECENT TIME. FERTILIZER STOCKS AND POWER STOCKS LOOKING GOOD.
TODAY ONE OF THE MAJOR ISSUE IS LISTING OF COAL INDIA IPO WHICH WOULD CATCH THE ATTENTION OF LOT OF TRADERS. TRADERS CAN TRADE IN COAL INDIA TO MAKE DECENT RETURNS SINCE THE VOLATALITY WOULD TO THE CORE. TODAY WE MAY SEE NIFTY OPENING POSITIVE TRACKING ASIAN MARKETS, IF NIFTY TRADES ABOVE 6211 THEN LIKELY TO MAKE AN UP MOVE TO 6249 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6285 LEVELS AND ANY CLOSE ABOVE 6285 INDICATES THAT MARKET WOULD BREAK NEW HIGHS OF THE YEAR AND LIKELY TO MOVE UP MUCH HIGHER. ON THE NEGATIVE SIDE ONE IS ADVISED TO STAY CAUTIOUS AND IF NIFTY TRADES BELOW 6174 THEN LIKELY TO MAKE ITS MOVE DOWNSIDE TO 6140 AND BREAK BELOW THIS LEVEL WOULD TAKE IT TO 6104 AND ANY CLOSE BELOW 6140 IS CONSIDERED TO BE WEAK AND WILL CONTINUE TO BE UNDER PRESSURE IN THE DAYS AHEAD. ONE IS ADVISED TO STAY CAUTIOUS FROM HERE ON. STOCK SPECIFIC MOVES CAN BE VERY VIOLENT AND TRY TO PLAY IN THE STOCKS WHICH ARE FUNDAMENTALLY STRONG MIDCAPS AND WHICH HAVE NOT MOVED IN THE RECENT TIME. FERTILIZER STOCKS AND POWER STOCKS LOOKING GOOD.
BUY ICSA SL 146.90 TGT 151/154/157 (SHORT TERM 175/200)*
BUY CHAMBAL FERT SL 91.40 TGT 95.90/98.60/100*
BUY UNITED PHOS SL 205 TGT 208.80/210.25/212.60 (SHORT TERM 250)
BUY DISH TV SL 62.30 TGT 64.35/65.50/67.50
POSITIONAL TRADES
BUY VIP INDS TGT 800/900
BUY K SERA SERA PROD TGT 23/28
