GOOD MORNING!!!
INDICES POSTED STRONG GAINS ON THE FIRST TRADING SESSION OF THE MONTH ON FIRM GLOBAL CUES. MARKETS SENTIMENT BOOSTED AS EUROPEAN MARKETS WAS TRADING HIGHER WHILE MOST ASIAN MARKETS BOUNCED OFF THEIR EARLIER LOWS. US INDEX FUTURES WERE TRADING HIGHER. THE MARKET BREADTH WAS STRONG. INITIALLY MARKET EDGED HIGHER IN EARLY TRADE. STOCKS SOON EXTENDED GAINS AND HIT FREESH INTRADAY HIGH IN MID-MORNING TRADE ON STRONG MANUFACTURING DATA FOR THE MONTH. THE MARKET PARED GAINS IN EARLY AFTERNOON TRADE. THE MARKET REGAINED STRENGTH IN AFTERNOON TRADE. THE MARKET STRUCK A FRESH INTRADAY HIGH IN MID-AFTERNOON TRADE ON POSITIVE GLOBAL CUES. THE MARKET PARED GAINS LATER. THE MARKET SURGED TO A FRESH INTRADAY HIGH IN LATE TRADE. METAL AND MINING SHARES SAW AN ACROSS THE BOARD SURGE AFTER STRONG INVESTOR RESPONSE TO THE MOIL ISSUE. BANKING STOCKS GAINED ON FRESH BUYING ON EXPECTATIONS OF A STRONG CREDIT OFFTAKE IN A GROWING ECONOMY. AUTO STOCKS, BARRING MARUTI SUZUKI INDIA, EDGED HIGHER ON HIGHER NOVEMBER 2010 SALES. TELECOM PIVOTALS SAW DIVERGENT TREND. SOFTWARE STOCKS SAW MIXED TREND AND UNDERPERFORMED THE INDEX.
TODAY MARKETS WOULD OPEN POSITIVE TRACKING A VERY POSITIVE CLOSING OF EUROPEAN MARKETS AND US INDICES IN THE RECENT PAST. TODAY IF NIFTY TRADES WOULD OPEN ABOVE 6016 THEN LIKELY TO MAKE ITS UP TO 6041 AND THEN MOVE ABOVE THIS POINT WOULD TAKE NIFTY TO 6066 AND ANY CLOSE ABOVE 6066 IS A GOOD CLOSING. ONE HAS TO STILL KEEP IN MIND THAT THIS UPSIDE MAY STILL BE NOT TAKEN INTO ACCOUNT FOR BUYING UNLESS IT BREAKS OUT CONVINCINGLY ONE IS CAUTIONED TO KEEP IN MIND, THOUGH I SAY THIS UPSIDE IS LITTLE RISKY I DON’T SAY THAT YOU HOLD SHORT POSITIONS OR BUILD SHORT POSITIONS AT THIS STAGE BUT I WOULD SUGGEST YOU TO BE WITH THE TREND AND DON’T HOLD TOO MANY LONG POSITIONS ON THE UPSIDE. BUT IF NIFTY CLOSES BELOW 6040 THEN ONE CAN TAKE A CHANCE OF BUYING SOME PUT OPTIONS WITH 6040 AS STOPLOSS ONLY AT THE END OF THE DAY. ON INTRADAY TERMS IF NIFTY TRADES BELOW 5963 THEN ONE CAN GO SHORT FOR A TARGET OF 5931 AND THEN 5900.
BUY PUNJLLOYD SL 107 TGT 112/114/116
BUY DENA BANK SL 134.40 TGT 139/142/144
BUY DISH TV SL 73 TGT 75.25/76.75/78
BUY NAGARJUNA CONSTRUCTIONS SL 137.80 TGT 141/143/145
BUY TATA MOTORS SL 1283 TGT 1300/1315/1329
POSITIONAL TRADES
BUY KARUTURI GLOBAL TGT 40
BUY UFLEX TGT 350
TODAY MARKETS WOULD OPEN POSITIVE TRACKING A VERY POSITIVE CLOSING OF EUROPEAN MARKETS AND US INDICES IN THE RECENT PAST. TODAY IF NIFTY TRADES WOULD OPEN ABOVE 6016 THEN LIKELY TO MAKE ITS UP TO 6041 AND THEN MOVE ABOVE THIS POINT WOULD TAKE NIFTY TO 6066 AND ANY CLOSE ABOVE 6066 IS A GOOD CLOSING. ONE HAS TO STILL KEEP IN MIND THAT THIS UPSIDE MAY STILL BE NOT TAKEN INTO ACCOUNT FOR BUYING UNLESS IT BREAKS OUT CONVINCINGLY ONE IS CAUTIONED TO KEEP IN MIND, THOUGH I SAY THIS UPSIDE IS LITTLE RISKY I DON’T SAY THAT YOU HOLD SHORT POSITIONS OR BUILD SHORT POSITIONS AT THIS STAGE BUT I WOULD SUGGEST YOU TO BE WITH THE TREND AND DON’T HOLD TOO MANY LONG POSITIONS ON THE UPSIDE. BUT IF NIFTY CLOSES BELOW 6040 THEN ONE CAN TAKE A CHANCE OF BUYING SOME PUT OPTIONS WITH 6040 AS STOPLOSS ONLY AT THE END OF THE DAY. ON INTRADAY TERMS IF NIFTY TRADES BELOW 5963 THEN ONE CAN GO SHORT FOR A TARGET OF 5931 AND THEN 5900.
BUY PUNJLLOYD SL 107 TGT 112/114/116
BUY DENA BANK SL 134.40 TGT 139/142/144
BUY DISH TV SL 73 TGT 75.25/76.75/78
BUY NAGARJUNA CONSTRUCTIONS SL 137.80 TGT 141/143/145
BUY TATA MOTORS SL 1283 TGT 1300/1315/1329
POSITIONAL TRADES
BUY KARUTURI GLOBAL TGT 40
BUY UFLEX TGT 350
