GOOD MORNING!!!
SIGH OF RELIEF FOR THE INVESTORS AFTER A WEEKLONG WEAK TREND WHICH FINALLY MANAGED TO CLOSE WITH EXCELLENT GAINS ON THE FINAL TRADING DAY OF THE WEEK AFTER WITNESSING A WHOLE WEEK OF DRUBBING. THOUGH THE START OF THE MARKETS WAS NOT CONFIDENT AS THE GLOBAL CUES WERE SLUGGISH AFTER THE RATING DOWNGRADE OF IRELAND, US MARKETS CLOSED MIXED AND THE ASIAN MARKETS WERE MOSTLY IN RED. BUT SOME RECOVERY WAS EXPECTED AT THE DOMESTIC FRONT AFTER THE CARNAGE IN PREVIOUS SESSION. THE INITIAL START LOOKED CHOPPY AND THE BENCHMARKS SEEMED EDGING LOWER BUT THE RECOVERY IN HEAVY WEIGHTS PUT A HOLD TO THE DECLINE AND THE INDICES STARTED MOVING HIGHER AND WITHIN AN HOUR THE MARKETS WERE OUT OF THE CONTROL OF BEARS. THE MARKETS REMAINED IN POSITIVE TERRAIN TILL MID MORNING SESSION, AFTER THE BETTER THAN EXPECTED IIP NUMBERS (10.8% AGAINST 4.4%) WERE ANNOUNCED THE MARKET SENTIMENT BOOSTED, MARKETS STARTED SURGING HIGHER. ALL THE SECTORS WHICH BLEEDED IN THE LAST WEEK SHOWN A GOOD RECOVERY NOT ONLY THE BEATEN DOWN SECTORS BUT SOME OF THE STOCKS THAT HAVE BEEN IN THE MID OF STORM FOR TRADING MAL-PRACTICES, TOO SHOWED GOOD AMOUNT OF RECOVERY.
TODAY MARKETS MAY OPEN FLAT TO NEGATIVE AND REMAIN RANGE BOUND. IF NIFTY TRADES ABOVE 5896 THEN LIKELY TO MOVE UP TO 5932 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE FURTHER UPSIDE IN NIFTY AND ANY CLOSE IN NIFTY ABOVE THIS POINT WOULD TAKE TO FURTHER NEW HIGHS IN THE DAYS AHEAD AND IF NIFTY CLOSES ABOVE 5932 WE MAY SEE NIFTY TO MOVE TO A POSITIVE TREND. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5850 THEN LIKELY TO DECLINE TO 5834 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY DOWN TO 5818 AND BELOW THIS LEVEL WOULD SEE NIFTY AT 5780 LEVELS AND ANY CLOSE BELOW 5800 LEVELS MAY SEE NIFTY TO BREACH PREVIOUS RECENT LOWS. STRATEGY FOR INTRADAY PLAYER : IF NIFTY TRADES AROUND 5920 TO 5930 ONE IS ADVISED TO SHORT WITH A STOPLOSS OF 5936 LEVELS AND CAN EVEN HOLD POSITIONALLY IF NIFTY DOESN’T CLOSE ABOVE 5936 LEVELS. AS NIFTY IS IN NEGATIVE TREND AVOID HEAVY BUYING AND TREND REVERSES ONLY ABOVE 5935 LEVELS SO STAY CAUTIOUS. MARKET MAY SEE SOME PROFIT BOOKING AT EVERY HIGHER LEVELS.
TODAY MARKETS MAY OPEN FLAT TO NEGATIVE AND REMAIN RANGE BOUND. IF NIFTY TRADES ABOVE 5896 THEN LIKELY TO MOVE UP TO 5932 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE FURTHER UPSIDE IN NIFTY AND ANY CLOSE IN NIFTY ABOVE THIS POINT WOULD TAKE TO FURTHER NEW HIGHS IN THE DAYS AHEAD AND IF NIFTY CLOSES ABOVE 5932 WE MAY SEE NIFTY TO MOVE TO A POSITIVE TREND. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5850 THEN LIKELY TO DECLINE TO 5834 AND BREAK BELOW THIS LEVEL WOULD TAKE NIFTY DOWN TO 5818 AND BELOW THIS LEVEL WOULD SEE NIFTY AT 5780 LEVELS AND ANY CLOSE BELOW 5800 LEVELS MAY SEE NIFTY TO BREACH PREVIOUS RECENT LOWS. STRATEGY FOR INTRADAY PLAYER : IF NIFTY TRADES AROUND 5920 TO 5930 ONE IS ADVISED TO SHORT WITH A STOPLOSS OF 5936 LEVELS AND CAN EVEN HOLD POSITIONALLY IF NIFTY DOESN’T CLOSE ABOVE 5936 LEVELS. AS NIFTY IS IN NEGATIVE TREND AVOID HEAVY BUYING AND TREND REVERSES ONLY ABOVE 5935 LEVELS SO STAY CAUTIOUS. MARKET MAY SEE SOME PROFIT BOOKING AT EVERY HIGHER LEVELS.
SELL VIDEOCON SL 211.50 TGT 208/204/198
SELL UNITECH SL 62.90 TGT 61.90/60.95/59.60
NOTE: DO NOT BUY ANYTHING POSITIONALLY TILL THE TIME NIFTY CLOSES 5935.
