GOOD MORNING!!!
INDIAN EQUITY INDICES WITNESSED ANOTHER STABLE SESSION OF TRADE A DAY AFTER BREAKING THE JINX OF TRADING IN A NARROW BAND FOR THE PAST 10 DAYS OF TRADING ON CLOSING SESSION OF EXPIRY DAY. THE MARKETS GOT OFF TO A POSITIVE START DESPITE THE MIXED CUES FROM THE GLOBAL COUNTERPARTS. THE BOURSES MOVED IN A NARROW RANGE WITH A POSITIVE BIAS FOR MOST PART OF THE DAY’S BUT PICKED UP SOME STRENGTH IN DYING HOURS. THE FRONTLINE INDICES CONSOLIDATED AT HIGHER LEVELS FOR SECOND STRAIGHT DAY TO SHUT AT THE HIGH POINT OF THE DAY. THE MARKET BREADTH WAS POSITIVE; MEANWHILE, INVESTORS ONCE AGAIN SHRUGGED OFF THE CONCERNS OF RISING FOOD PRICE INFLATION. ACCORDING TO THE DATA RELEASED BY THE MINISTRY OF COMMERCE AND INDUSTRY, INDIA'S FOOD PRICE INDEX ROSE 14.14% ON ANNUAL BASIS DURING WEEK-ENDED DEC 18, SUBSTANTIALLY FASTER COMPARED WITH 12.13% IN THE WEEK-ENDED DEC 11 AND 9.46% IN THE PREVIOUS WEEK. GAINS REMAINED BROAD-BASED DURING THE SESSION WITH CONSUMER DURABLES, REALTY AND INFORMATION TECHNOLOGY COUNTERS ATTRACTING MAXIMUM TRACTION. THE BROADER INDICES TOO RALLIED WITH CONVICTION AS THE MID-CAP TOO MANAGED TO OUTCLASS.
TODAY MARKETS WOULD LIKELY BE ON A NARROW RANGE BOUND AHEAD OF WEAK END. TODAY IF NIFTY TRADES ABOVE 6116 THEN LIKELY TO TOUCH 6145 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6204 LEVELS AND ON THE DOWNSIDE IF NIFTY TRADES BELOW 6094 THEN LIKELY TO COME DOWN TO 6068 LEVELS AND BREAK BELOW THIS POINT WOULD DRAG IT TO 6040 LEVELS AND ANY CLOSE BELOW 6025 IS CONSIDERED TO BE WEAK FOR THE DAYS AHEAD.
BUY GREAT OFFSHORE SL 390 TGT 397/400/406 *
BUY BINANI INDS SL 221 TGT 232/239/250
POSITIONAL TRADES
BUY SESAGOA TGT 360/385
WISH YOU AND ALL YOUR FAMILY A VERY HAPPY NEW YEAR.
MAY GOOD HEALTH, WEALTH AND PROPERITY SHOWER LIKE RAIN ON YOU AND YOUR FAMILY IN THE YEAR AHEAD. HAPPY 2011
