GOOD MORNING!!!
INDICES EDGED HIGHER AT THE ONSET OF THE TRADING SESSION TRACKING RECOVERY IN ASIAN STOCKS AND BARGAIN HUNT. LATER, CONTINUED TO REMAIN ON THE POSITIVE ZONE. ALL THE SECTORAL INDICES WERE IN GREEN. THE MARKET BREADTH REMAINED POSITIVE. MARKETS HAVE COMPLETED THE 1ST RETRACEMENT IN NIFTY AND BOUNCED BACK. WE HAVE NOT WITNESSED GREAT BUYING ACROSS THE COUNTERS IN TERMS OF VOLUMES WHICH IS STILL A NEGATIVE FACTOR. ONE HAS TO BE CAUTIOUS GOING FORWARD.
TODAY MARKETS LIKELY TO REMAIN VOLTILE AND RANGE BOUND IF NIFTY TRADES ABOVE 5865 THEN LIKELY TO MAKE ITS UPWARD JOURNEY TO 5900 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5950 ONE HAS TO BEAR IN MIND THAT EVERY HIGHER LEVEL IN NIFTY FROM HERE ON WE MAY WITNESS SOME SELLING TO CROP-IN. IF NIFTY TRADES BELOW 5820 THEN LIKLEY TO MAKE ITS MOVE DOWN TO 5778 AND ANY BREAK BELOW THIS POINT WE MAY SEE NIFTY TO SLIDE DOWN TO 5725 LEVELS AND ANY CLOSE BELOW THIS POINT WE WILL HEAD TOWARDS MUCH DEEPER LEVELS. ONE HAS TO BE VERY CAUTIOUS GOING FORWARD THIS IS NOT THE IDEAL TIME TO BUY IN AS THERE IS STILL NEGATIVE BREADTH IN THE MARKETS. FERTILIZERS AND SUGARS LOOKS GOOD ON INTRADAY PERSPECTIVE.
BUY BGR ENERGY SL 681 TGT 720/732/746
