GOOD MORNING!!!
THE MARKET SURGED TO HIT DAY'S HIGH AFTER A WEAK START AS MOST ASIAN STOCKS REVERSED INITIAL LOSSES. PROFIT BOOKING EMERGED SOON AFTER EXTENDING INITIAL GAINS TO HIT FRESH INTRADAY HIGHS IN MORNING TRADE. IT REVERSED INITIAL GAINS TO HIT FRESH INTRADAY LOWS IN EARLY AFTERNOON TRADE. IT TRIMMED LOSSES IN AFTERNOON TRADE. IT RECOVERED SHARPLY TO REGAIN POSITIVE ZONE IN MID-AFTERNOON TRADE. IT EXTENDED GAINS IN LATE TRADE. IT WAS ALL IN ALL A VERY VOLATILE SESSION IN THE MARKET. CONSUMER DURABLES, REALTY, FMCG AND IT STOCKS ROSE. THE MARKET BREADTH WAS STRONG. STATE BANK OF INDIA SLUMPED 4.37% AFTER WEAK Q2 RESULT. CAPITAL GOODS STOCKS FELL.
TODAY MARKETS WOULD REMAIN VOLATILE AND RANGE BOUND. IF NIFTY TRADES ABOVE 6350 LIKELY TO MOVE UP TO 6380 AND THEN TO 6400 LEVELS ANY BREAK ABOVE 6400 LIKELY TO TAKE MARKETS TO MUCH HIGHER LEVELS. ONE IS ADVISED TO STAY CAUTIOUS AT EVERY HIGHER LEVEL THOUGH MARKET IS VERY POSITIVE. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 6318 THEN LIKELY TO DIP DOWN TO 6293 AND BREAK BELOW THIS LEVEL MAY TAKE SUPPORT AT 6270 LEVELS AND ANY BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 6245 AND THEN TO 6216. ONE IS ADVISED TO STAY CAUTIOUS AS WE MAY LIKELY TO SEE MIDCAPS AND SMALL CAPS TO MOVE. IF NIFTY TRADES BELOW 6285 ON THE CLOSING BASIS ONE IS ADVISED TO MINIMIZE LONGS AND TRY TO ADD FEW SHORTS AS WELL.
BUY JETAIRWAYS SL 883 TGT 900/919/941
BUY LIC HOUSING SL 1391 TGT 1417/1438/1465
BUY NEHA INTERNATIONAL SL 224 TGT 236/244/249
BUY UB HOLDINGS SL 331.45 TGT 345/353/359
BUY SARADA ENERGY SL 315 TGT 325/333/344
TODAY MARKETS WOULD REMAIN VOLATILE AND RANGE BOUND. IF NIFTY TRADES ABOVE 6350 LIKELY TO MOVE UP TO 6380 AND THEN TO 6400 LEVELS ANY BREAK ABOVE 6400 LIKELY TO TAKE MARKETS TO MUCH HIGHER LEVELS. ONE IS ADVISED TO STAY CAUTIOUS AT EVERY HIGHER LEVEL THOUGH MARKET IS VERY POSITIVE. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 6318 THEN LIKELY TO DIP DOWN TO 6293 AND BREAK BELOW THIS LEVEL MAY TAKE SUPPORT AT 6270 LEVELS AND ANY BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 6245 AND THEN TO 6216. ONE IS ADVISED TO STAY CAUTIOUS AS WE MAY LIKELY TO SEE MIDCAPS AND SMALL CAPS TO MOVE. IF NIFTY TRADES BELOW 6285 ON THE CLOSING BASIS ONE IS ADVISED TO MINIMIZE LONGS AND TRY TO ADD FEW SHORTS AS WELL.
BUY JETAIRWAYS SL 883 TGT 900/919/941
BUY LIC HOUSING SL 1391 TGT 1417/1438/1465
BUY NEHA INTERNATIONAL SL 224 TGT 236/244/249
BUY UB HOLDINGS SL 331.45 TGT 345/353/359
BUY SARADA ENERGY SL 315 TGT 325/333/344
POSITIONAL TRADES
BUY SUBEX TGT 120*
