GOOD MORNING!!!
INDICES LOWERED IN EARLY TRADE TRACKING THE ASIAN INDICES, MARKET THEN MOVED IN A NARROW RANGE WITH A NEGATIVE BIAS, INDICES WEAKENED ONCE AGAIN AFTER RECOUPING MOST OF THE INITIAL LOSSES IN MID-MORNING TRADE AS WEAK ASIAN STOCKS DAMPENED INVESTOR SENTIMENT. THE MARKET SLUMPED IN EARLY AFTERNOON TRADE AS CHINESE STOCKS TUMBLED. THERE WAS LITTLE RECOVERY SEEN FROM THE LOWEST LEVELS OF THE DAY ON BARGAIN HUNT WHICH MADE INDICES TO CLOSE LITTLE ABOVE THE LOWEST POINT OF THE DAY.
MAJOR CAUSES OF DECLINE ARE
(A) A POSSIBLE RATE HIKE IN CHINA
(B) CONCERNS OVER THE EUROPEAN SOVEREIGN DEBT CRISIS
(C) WORRIES THAT US FUNDS WILL CLOSE POSITIONS IN EMERGING MARKETS STOCKS AHEAD OF THE YEAR-END TO CASH IN ON RECENT GAINS THESE ARE THE ABOVE THREE ROOT CAUSES OF MAJOR DECLINE IN THE MARKETS. REALTY, BANKING, METAL, CONSUMER DURABLES AND CAPITAL GOODS STOCKS LED THE DECLINE. ALL THE SECTORAL INDICES WERE IN THE NEGATIVE ZONE AND THE MARKET BREADTH WAS WEAK.
TODAY MARKETS WOULD OPEN FLAT AND RANGE BOUND, METALS MAY STILL BE UNDER PRESSURE OVER THE CONCERNS IN CHINA. IF NIFTY TRADES BELOW 5975 THEN LIKELY TO DIP DOWN TO 5944 LEVELS AND BREACH BELOW THIS LEVEL WE CAN SEE NIFTY TO COME DOWN TO 5860 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 6008 CAN MOVE UP TO 6040 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6079 LEVELS AND ONE IS ADVISED NOT TO GO LONG ON POSITIONAL FRONT AS NIFTY IS STILL WEAK AND ONE NEEDS TO STAY AWAY FROM IT ONE IS ADVISED TO SHORT AT HIGHER LEVELS IN NIFTY POSITIONALLY. IF YOU ARE ON THE LONG BASED ON THE ABOVE MENTIONED LEVELS ONE IS ADVISED TO STAY CAUTIOUS AND ONLY TRADE ON INTRADAY TERMS AND DO NOT CARRY FORWARD THE LONGS AT ANY COST.
MAJOR CAUSES OF DECLINE ARE
(A) A POSSIBLE RATE HIKE IN CHINA
(B) CONCERNS OVER THE EUROPEAN SOVEREIGN DEBT CRISIS
(C) WORRIES THAT US FUNDS WILL CLOSE POSITIONS IN EMERGING MARKETS STOCKS AHEAD OF THE YEAR-END TO CASH IN ON RECENT GAINS THESE ARE THE ABOVE THREE ROOT CAUSES OF MAJOR DECLINE IN THE MARKETS. REALTY, BANKING, METAL, CONSUMER DURABLES AND CAPITAL GOODS STOCKS LED THE DECLINE. ALL THE SECTORAL INDICES WERE IN THE NEGATIVE ZONE AND THE MARKET BREADTH WAS WEAK.
TODAY MARKETS WOULD OPEN FLAT AND RANGE BOUND, METALS MAY STILL BE UNDER PRESSURE OVER THE CONCERNS IN CHINA. IF NIFTY TRADES BELOW 5975 THEN LIKELY TO DIP DOWN TO 5944 LEVELS AND BREACH BELOW THIS LEVEL WE CAN SEE NIFTY TO COME DOWN TO 5860 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 6008 CAN MOVE UP TO 6040 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6079 LEVELS AND ONE IS ADVISED NOT TO GO LONG ON POSITIONAL FRONT AS NIFTY IS STILL WEAK AND ONE NEEDS TO STAY AWAY FROM IT ONE IS ADVISED TO SHORT AT HIGHER LEVELS IN NIFTY POSITIONALLY. IF YOU ARE ON THE LONG BASED ON THE ABOVE MENTIONED LEVELS ONE IS ADVISED TO STAY CAUTIOUS AND ONLY TRADE ON INTRADAY TERMS AND DO NOT CARRY FORWARD THE LONGS AT ANY COST.
BUY WINDSOR MACHINES SL 99.90 TGT 105/108/110
BUY EMKAY SL 113 TGT 119/121/123
