GOOD MORNING!!!
MARKETS EDGED LOWER IN EARLY TRADE TRACKING MIXED ASIAN MARKETS . IT RECOVERED FROM THE DAY'S LOW IN MORNING TRADE. IT HIT FRESH INTRADAY HIGHS AFTER MOVING BETWEEN THE POSITIVE AND NEGATIVE TERRAIN IN MID-MORNING TRADE. IT SURGED TO HIT FRESH INTRADAY HIGHS AFTER SLIPPING INTO THE RED FOR BRIEF PERIOD IN EARLY AFTERNOON TRADE. IT ONCE AGAIN SLIPPED INTO THE RED AFTER HITTING FRESH INTRADAY HIGHS IN AFTERNOON TRADE. IT CUT SOME LOSSES IN MID-AFTERNOON TRADE. IT WEAKENED TO HIT FRESH INTRADAY LOWS AT THE FAG END OF THE TRADE. INDICES EDGED LOWER IN A CHOPPY TRADING SESSION WITH INDICES CLOSING NEAR THE DAY'S LOWS AS WEAK EUROPEAN STOCKS WEIGHED ON INVESTOR SENTIMENT. THE INDICES MOVED IN A NARROW BAND NEAR THE FLAT LINE. CAPITAL GOODS, FMCG AND METAL STOCKS FELL. BUT, CONSUMER DURABLES AND IT STOCKS ROSE. THE MARKET BREADTH WAS STRONG AS BUYING WAS WITNESSED IN MID CAP AND SMALL CAP STOCKS.
TODAY NIFTY WOULD BE RANGE BOUND AND NEGATIVELY BIASED. IF NIFTY TRADES BELOW 6296 THEN NIFTY LIKELY TO COME DOWN TO 6266 LEVELS AND BREAK BELOW THIS POINT WOULD LIKELY TO TUMBLE DOWN TO 6206 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 6326 THEN LIKELY TO MOVE UPTO 6348 LEVELS AND ANY BREAK ABOVE THIS LEVEL WOULD DRIFT HIGHER TO 6390 LEVELS ONE SHOULD AVOID BUYING NIFTY UNLESS IT BREACHES 6350 LEVELS TO BE SAFER. EVERY HIGHER LEVELS IS A GOOD BET FOR SHORTING ON INTRADAY TERMS KEEPING 6350 AS STOPLOSS. STAY CAUTIOUS IN THE MARKET.
TODAY NIFTY WOULD BE RANGE BOUND AND NEGATIVELY BIASED. IF NIFTY TRADES BELOW 6296 THEN NIFTY LIKELY TO COME DOWN TO 6266 LEVELS AND BREAK BELOW THIS POINT WOULD LIKELY TO TUMBLE DOWN TO 6206 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 6326 THEN LIKELY TO MOVE UPTO 6348 LEVELS AND ANY BREAK ABOVE THIS LEVEL WOULD DRIFT HIGHER TO 6390 LEVELS ONE SHOULD AVOID BUYING NIFTY UNLESS IT BREACHES 6350 LEVELS TO BE SAFER. EVERY HIGHER LEVELS IS A GOOD BET FOR SHORTING ON INTRADAY TERMS KEEPING 6350 AS STOPLOSS. STAY CAUTIOUS IN THE MARKET.
BUY VIP INDS SL 698 TGT 729/750/781
BUY GE SHIPPING SL 387 TGT 398/404/409
BUY VALECHA ENGINEER SL 206.50 TGT 216/222/229
BUY ICSA SL 150 TGT 154.60/157/160
BUY TITAN SL 4118 TGT 4226/4348/4410
POSITIONAL TRADES
BUY KPIT CUMMINS 150/200
BUY BF UTILITIES TGT 1150/1340
BUY MLL TGT 100*
BUY APOLLO TYRES TGT 100
BUY SICAL LOGISTICS TGT 110
BUY GEODESIC TGT 180
BUY LAKSHMI ENERGY & FOODS TGT 100%
BUY JB CHEMICAL & PHARMA TGT 200/230*
BUY TATA MOTORS TGT 1500/1800*
