GOOD MORNING!!!
THE MARKET JUMPED IN EARLY TRADE ON POSITIVE GLOBAL CUES. THE MARKET PARED GAINS IN MORNING TRADE. A BOUT OF VOLATILITY WAS WITNESSED AS THE INDICES REGAINED STRENGTH IN MID-MORNING TRADE ON FIRM ASIAN STOCKS. INDICES EDGED HIGHER IN VOLATILE TRADE WITH STRONG GLOBAL CUES, STRONG ECONOMIC DATA, LOWER INFLATION AND HIGHER GLOBAL STOCKS, HELPED KEEP SENTIMENTS FIRM. THE MARKET GAINED FOR THE FOURTH STRAIGHT DAY. THE MARKET BREADTH WAS STRONG. REALTY STOCKS EDGED HIGHER FOR THE THIRD DAY IN A ROW ON BARGAIN HUNTING AFTER A RECENT STEEP SLIDE TRIGGERED BY THE OUTBREAK OF A BANK LOANS BRIBERY SCANDAL LAST WEEK. SOFTWARE STOCKS ROSE ON A SLEW OF RECENT BETTER-THAN-EXPECTED US ECONOMIC DATA. CONSUMER DURABLES, BANKING AND IT STOCKS ALSO ROSE.
TODAY MARKETS LOOK FLAT TO CONSOLIDATION AS NIFTY HAS COMPLETED ITS RETRACEMENT ON THE UPSIDE FROM THE LOWER LEVELS AND LIKELY TO FACE THE RESISTANCE AT THIS POINT. NIFTY IS LIKELY TO TRADE IN A NARROW RANGE BAND AND MAY PHASE A TOUGH RESISTANCE AND CLOSE ABOVE 6040 CONVINCINGLY MAY TAKE NIFTY TO HIGHER LEVELS. IF NIFTY TRADES ABOVE 6045 THEN LIKELY TO MOVE UP TO 6062 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6075 AND ANY CLOSE ABOVE 6040 MAY TAKE NIFTY TO 6098 LEVELS IN THE NEXT TRADING SESSIONS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 6025 THEN LIKELY TO DIP DOWN TO 6000 AND THEN 5985 LEVELS AND ANY BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 5968 LEVELS AND ANY CLOSE BELOW 5968 LEVELS SHOWS A WEAK TREND IN THE DAYS AHEAD. CAUTION: ONE IS ADVISED NOT TO BUILD TOO MANY LONG POSITIONS EVEN ON THE POSITIVE FRONT AS NIFTY IS NOT LOOKING VERY STRONG EVEN THOUGH MARKETS HAVE MOVED MORE THAN 311 POINTS FROM THE LOWER LEVELS.
BUY ABG SHIPYARD SL 427 TGT 438/444/448
BUY AUROBINDO PHARMA SL 1292 TGT 1316/1332/1350
BUY ISMT LTD SL 68 TGT 70.60/72/74* (SHORT TERM 80)*
TODAY MARKETS LOOK FLAT TO CONSOLIDATION AS NIFTY HAS COMPLETED ITS RETRACEMENT ON THE UPSIDE FROM THE LOWER LEVELS AND LIKELY TO FACE THE RESISTANCE AT THIS POINT. NIFTY IS LIKELY TO TRADE IN A NARROW RANGE BAND AND MAY PHASE A TOUGH RESISTANCE AND CLOSE ABOVE 6040 CONVINCINGLY MAY TAKE NIFTY TO HIGHER LEVELS. IF NIFTY TRADES ABOVE 6045 THEN LIKELY TO MOVE UP TO 6062 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6075 AND ANY CLOSE ABOVE 6040 MAY TAKE NIFTY TO 6098 LEVELS IN THE NEXT TRADING SESSIONS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 6025 THEN LIKELY TO DIP DOWN TO 6000 AND THEN 5985 LEVELS AND ANY BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 5968 LEVELS AND ANY CLOSE BELOW 5968 LEVELS SHOWS A WEAK TREND IN THE DAYS AHEAD. CAUTION: ONE IS ADVISED NOT TO BUILD TOO MANY LONG POSITIONS EVEN ON THE POSITIVE FRONT AS NIFTY IS NOT LOOKING VERY STRONG EVEN THOUGH MARKETS HAVE MOVED MORE THAN 311 POINTS FROM THE LOWER LEVELS.
BUY ABG SHIPYARD SL 427 TGT 438/444/448
BUY AUROBINDO PHARMA SL 1292 TGT 1316/1332/1350
BUY ISMT LTD SL 68 TGT 70.60/72/74* (SHORT TERM 80)*
POSITIONAL TRADES
BUY KOUTONS TGT 100
BUY KOUTONS TGT 100
