GOOD MORNING!!!
INDICES OPENED ON A FIRM NOTE AS INVESTORS HEAVED A SIGH OF RELIEF AFTER MARKETS OPENED POSITIVE AFTER A BAD CLOSING ON THE FRIDAY. SENTIMENT TURNED POSITIVE ON THE ONSET OF THE TRADING SESSION AS TRUCKERS, OVER THE WEEK-END, CALLED OFF A PROPOSED STRIKE. STOCKS EXTENDED GAINS IN MORNING TRADE AND INDICES WERE HOVERING NEAR THE DAY'S HIGH IN MID-MORNING TRADE. THE MARKET TRIMMED GAINS AFTER HITTING FRESH INTRADAY HIGH IN EARLY AFTERNOON TRADE. THE MARKET FURTHER CUT GAINS IN MID-AFTERNOON TRADE. THE MARKET SLIPPED INTO THE RED AT THE FAG END OF THE TRADING SESSION. INDICES REVERSED INITIAL STRONG GAIN AS PROFIT TAKING EMERGED AT HIGHER LEVEL. THE MARKET REVERSED IN EARLY AFTERNOON TRADE ON WEAK EUROPEAN STOCKS AND LOWER US INDEX FUTURES. THE MARKET BREADTH TURNED NEGATIVE WHEN COMPARED WITH A STRONG BREADTH EARLIER IN THE DAY. BANKING STOCKS FELL ACROSS THE BOARD WHILE METAL AND IT STOCKS ROSE.
TODAY MARKETS WOULD BE NEGATIVELY BIASED, IF NIFTY TRADES BELOW 5985 THEN LIKELY TO MAKE ITS DOWNSIDE MOVE TO 5968 AND THEN TO 5945 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 5906 LEVELS ONE CAN RETAIN SHORTS OR BUILD SHORT POSITIONS BELOW 5985 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 6011 THEN LIKELY TO MAKE ITS UP MOVE TO 6036 LEVELS AND ANY BREAK ABOVE 6036 ONE CAN SEE NIFTY TO INCLINE FURTHER TO 6060 ONE IS ADVISED TO STAY LONG IF NIFTY TRADES ABOVE 6036 LEVELS. AS CAUTIONED !!! ONE HAS TO WAIT TO BUILD LONG POSITIONS FOR A BRIEF PERIOD OF TIME AS THE MARKETS STILL NOT LOOKING VERY GREAT TO INVEST IN THE CURRENT SITUATION THOUGH WE ARE IN A LONG TERM BULLISH PATTERN.
INDICES OPENED ON A FIRM NOTE AS INVESTORS HEAVED A SIGH OF RELIEF AFTER MARKETS OPENED POSITIVE AFTER A BAD CLOSING ON THE FRIDAY. SENTIMENT TURNED POSITIVE ON THE ONSET OF THE TRADING SESSION AS TRUCKERS, OVER THE WEEK-END, CALLED OFF A PROPOSED STRIKE. STOCKS EXTENDED GAINS IN MORNING TRADE AND INDICES WERE HOVERING NEAR THE DAY'S HIGH IN MID-MORNING TRADE. THE MARKET TRIMMED GAINS AFTER HITTING FRESH INTRADAY HIGH IN EARLY AFTERNOON TRADE. THE MARKET FURTHER CUT GAINS IN MID-AFTERNOON TRADE. THE MARKET SLIPPED INTO THE RED AT THE FAG END OF THE TRADING SESSION. INDICES REVERSED INITIAL STRONG GAIN AS PROFIT TAKING EMERGED AT HIGHER LEVEL. THE MARKET REVERSED IN EARLY AFTERNOON TRADE ON WEAK EUROPEAN STOCKS AND LOWER US INDEX FUTURES. THE MARKET BREADTH TURNED NEGATIVE WHEN COMPARED WITH A STRONG BREADTH EARLIER IN THE DAY. BANKING STOCKS FELL ACROSS THE BOARD WHILE METAL AND IT STOCKS ROSE.
TODAY MARKETS WOULD BE NEGATIVELY BIASED, IF NIFTY TRADES BELOW 5985 THEN LIKELY TO MAKE ITS DOWNSIDE MOVE TO 5968 AND THEN TO 5945 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 5906 LEVELS ONE CAN RETAIN SHORTS OR BUILD SHORT POSITIONS BELOW 5985 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 6011 THEN LIKELY TO MAKE ITS UP MOVE TO 6036 LEVELS AND ANY BREAK ABOVE 6036 ONE CAN SEE NIFTY TO INCLINE FURTHER TO 6060 ONE IS ADVISED TO STAY LONG IF NIFTY TRADES ABOVE 6036 LEVELS. AS CAUTIONED !!! ONE HAS TO WAIT TO BUILD LONG POSITIONS FOR A BRIEF PERIOD OF TIME AS THE MARKETS STILL NOT LOOKING VERY GREAT TO INVEST IN THE CURRENT SITUATION THOUGH WE ARE IN A LONG TERM BULLISH PATTERN.
BUY TATA MOTORS SL 1354 TGT 1377/1384/1391
POSITIONAL TRADES
BUY GUJRAT FLUROCHEM TGT 250/350*
BUY GUJRAT FLUROCHEM TGT 250/350*
