GOOD MORNING!!!
THE OPENING OF THE MARKETS WERE NEGATIVE WEIGHED BY WEAK ASIAN CUES. INDICES GYRATED IN A TIGHT BAND WITH A NEGATIVE BIAS IN THE MID-MORNING SESSION. THE MARKETS, HOWEVER, STARTED PARING THEIR EARLY LOSSES IN LATE-MORNING TRADES. THE MOMENTUM CONTINUED IN THE AFTERNOON SESSION AS WELL WHICH HELPED THE KEY INDICES TO TURN POSITIVE IN THE NOON SESSION. RECOVERY IN ASIAN PEERS AND THE US INDEX FUTURES TRIGGERED SHORT COVERING IN THE INDIAN INDICES. START IN THE GREEN FOR EUROPEAN INDICES ALSO BOOSTED SENTIMENT IN LATE-AFTERNOON TRADES WHICH FURTHER ELEVATED THE INDICES TO HIGHER LEVELS. AT THE FAG END OF THE SESSIONS BEARS BECAME AGGRESSIVE AT HIGHER LEVELS AND DRAGGED THE BOURSES TO THE NEUTRAL LINE BY THE END OF THE SESSION. THOUGH THE MARKET BREADTH WAS POSITIVE, THE VOLUMES WERE VERY LOW AS INVESTORS REMAINED CAUTIOUS AHEAD OF THE END OF CALENDAR YEAR AS MOST OF THE GLOBAL FUND MANAGERS ARE EXPECTED TO GO ON VACATION FOR CHRISTMAS AND NEW YEAR FROM THIS WEEK WHICH WILL RESULT IN FURTHER SPIKE-UP IN VOLATILITY DUE TO REDUCTION IN VOLUME. AUTO SPACE WAS THE STAR PERFORMER OF THE SESSION LED BY EIGHTEEN PERCENT RALLY IN TWO-WHEELER MAKER HERO HONDA. SOFTWARE, TECHNOLOGY AND METAL COUNTERS ALSO SHOWED STRENGTH IN TRADE. ON THE FLIP SIDE, BANKING, REALTY AND HEALTHCARE STOCKS REMAINED SUBDUED DURING THE SESSION.
TODAY MARKETS LOOK FLAT TO POSITIVE THOUGH THERE IS EVERY POSSIBILITY OF BEARS ATTACKING THE MARKETS AT THE HIGHER LEVELS OF THE TRADE. IF NIFTY TRADES ABOVE 5986 THEN ONE CAN SEE NIFTY TO MOVE UP TO 6011 AND BREAK ABOVE THIS POINT WOULD TAKE IT TO 6050 LEVELS, AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5935 ONE CAN SEE NIFTY TO SLIDE DOWN TO 5900 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE IT FURTHER TO 5863 LEVELS. ONE IS ADVISED TO STAY CAUTIOUS IN THE MARKETS ON THE POSITIVE TERRITORY THOUGH MARKETS IS MOVING ON THE POSITIVE SIDE, THE POINT OF CONCERN IS THE VOLUMES IN THE EXCHANGE AND THERE IS NO STRONG SIGNS OF UPMOVE, THERE IS EVERY CHANCE THAT MARKETS MAY SUDDENLY SLIDE DOWN AT ANY POINT, WE CAN STILL MOVE DOWN BY ANOTHER 300 TO 400 POINTS IN NIFTY BEFORE WE MAKE AN UP MOVE.
TODAY MARKETS LOOK FLAT TO POSITIVE THOUGH THERE IS EVERY POSSIBILITY OF BEARS ATTACKING THE MARKETS AT THE HIGHER LEVELS OF THE TRADE. IF NIFTY TRADES ABOVE 5986 THEN ONE CAN SEE NIFTY TO MOVE UP TO 6011 AND BREAK ABOVE THIS POINT WOULD TAKE IT TO 6050 LEVELS, AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5935 ONE CAN SEE NIFTY TO SLIDE DOWN TO 5900 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE IT FURTHER TO 5863 LEVELS. ONE IS ADVISED TO STAY CAUTIOUS IN THE MARKETS ON THE POSITIVE TERRITORY THOUGH MARKETS IS MOVING ON THE POSITIVE SIDE, THE POINT OF CONCERN IS THE VOLUMES IN THE EXCHANGE AND THERE IS NO STRONG SIGNS OF UPMOVE, THERE IS EVERY CHANCE THAT MARKETS MAY SUDDENLY SLIDE DOWN AT ANY POINT, WE CAN STILL MOVE DOWN BY ANOTHER 300 TO 400 POINTS IN NIFTY BEFORE WE MAKE AN UP MOVE.
BUY UNITED BREWERIES SL 473 TGT 492/500/511 (SHORT TERM 590)*
BUY HEXAWARE SL 109 TGT 112/114/116 (SHORT TERM 135)*
BUY TCS SL 1160 TGT 1185/1200/1210 (ONE CAN BUY CALL OPTION OF 1200)*
BUY JSW STEEL SL 1180 TGT 1207/1220/1236
