GOOD MORNING!!!
ANOTHER SLUGGISH DAY OF TRADE IN THE INDIAN EXCHANGES, MARKETS STARTED THE SESSION WITH MODEST GAINS THIS MORNING TRACKING MIXED GLOBAL CUES. INDICES MOVED WITHIN A NARROW RANGE THAT TOO NEAR THE NEUTRAL LINE IN THE MORNING SESSION AND SIMILAR TREND CONTINUED TILL AFTERNOON MORNING SESSION. THE MARKETS WITNESSED SOME SELLING PRESSURE IN AFTERNOON TRADES, WHICH DRAGGED THEM TO DAY’S LOW. LATER INDICES RECOVERED FROM THEIR INTRADAY LOWS IN LATE TRADES TO ENTER THE POSITIVE TERRAIN BUT ALL THIS ACTION CONTINUED TO HAPPEN IN A VERY SMALL RANGE. THE MARKETS MOVED BACK AND FORTH IN LAST HOUR OF TRADE AS WELL BEFORE SIGNING OFF THE SESSION AROUND THE NEUTRAL LINE. DESPITE BEING F&O EXPIRY WEEK, THE VOLUME HASN’T PICKED UP ON THE STREET. THE TURNOVER FOR THE SESSION STOOD AT AROUND RS 1.01 LAKH CRORE. MARKET BREADTH WAS POSITIVE; FMCG, HEALTHCARE AND TECHNOLOGY COUNTERS WAS OFFSET BY LOSSES IN OIL & GAS, PSU AND AUTO STOCKS. TELECOM STOCKS WERE IN ACTION DURING THE SESSION.
TODAY MARKETS LOOK VOLATILE AHEAD OF EXPIRY TOMORROW, WE MAY WITNESS SOME KIND OF RANGE BOUND MOVEMENTS UNTIL THE SPECIFIED LEVELS IN THE NIFTY ARE BREACHED. IF NIFTY TRADES BELOW 5999 ONE CAN SEE NIFTY TO TRADE DOWN TO 5985 AND THEN TO 5955 LEVELS AND ANY BREAK BELOW THIS POINT WOULD SEE NIFTY TO SLIDE DOWN TO 5912 LEVELS, AND IF NIFTY CLOSES BELOW 5985 ON THE CLOSING BASIS WE CAN RETAIN SHORTS AND WE MAY HEAD DOWN. ON THE FLIP SIDE IF NIFTY TRADES ABOVE ABOVE 6030 THEN LIKELY TO MOVE UP TO 6043 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6060 AND THEN TO 6090 BUT AS OF NOW NIFTY AT CURRENT LEVELS ON A SHORT TERM FRONT LOOKS WEAK, SO ONE IS ADVISED TO STAY CAUTIOUS AND ALSO ADVISE YOU TO HEDGE YOUR POSITIONS WITH SOME AMOUNT OF PUTS TO SAFEGUARD YOUR CAPITAL INVESTED IN STOCKS. EXCEPT FOR THE STOCK SPECIFIC MANY STOCKS ARE AT A PLACE WHERE THEY CAN BLEED.
TODAY MARKETS LOOK VOLATILE AHEAD OF EXPIRY TOMORROW, WE MAY WITNESS SOME KIND OF RANGE BOUND MOVEMENTS UNTIL THE SPECIFIED LEVELS IN THE NIFTY ARE BREACHED. IF NIFTY TRADES BELOW 5999 ONE CAN SEE NIFTY TO TRADE DOWN TO 5985 AND THEN TO 5955 LEVELS AND ANY BREAK BELOW THIS POINT WOULD SEE NIFTY TO SLIDE DOWN TO 5912 LEVELS, AND IF NIFTY CLOSES BELOW 5985 ON THE CLOSING BASIS WE CAN RETAIN SHORTS AND WE MAY HEAD DOWN. ON THE FLIP SIDE IF NIFTY TRADES ABOVE ABOVE 6030 THEN LIKELY TO MOVE UP TO 6043 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6060 AND THEN TO 6090 BUT AS OF NOW NIFTY AT CURRENT LEVELS ON A SHORT TERM FRONT LOOKS WEAK, SO ONE IS ADVISED TO STAY CAUTIOUS AND ALSO ADVISE YOU TO HEDGE YOUR POSITIONS WITH SOME AMOUNT OF PUTS TO SAFEGUARD YOUR CAPITAL INVESTED IN STOCKS. EXCEPT FOR THE STOCK SPECIFIC MANY STOCKS ARE AT A PLACE WHERE THEY CAN BLEED.
BUY GUJ NRE COKE SL 60.40 TGT 62.40/63.30/64.75 (SHORT TERM 75)*
BUY MOSER BAER SL 62 TGT 64/65.30/67.20
BUY BARTRONICS SL 90.25 TGT 95.90/99.40/101.90
POSITIONAL TRADES
BUY TATA ELEXSI TGT 340/400*
BUY HEXAWARE TGT 140*
BUY MCDOWEL TGT 1675*
