GOOD MORNING!!!
AFTER A SMART BOUNCE BACK IN THE LAST SESSION IT WAS TOTALLY A SESSION OF CONSOLIDATION AS WE HAVE SEEN INVESTORS WERE VERY RELUCTANT TO BUILD ANY POSITIONS AHEAD OF IIP DATA AND THE OUTCOME OF ASSEMBLY POLLS SCHEDULED TO BE ANNOUNCED LATER THIS WEEK. TODAY THE TRADING SESSION WAS COMPLETELY DOMINATED BY VOLATILITY AS TRADERS UTILIZED EVERY SMALL RISE TO CAPITALIZE. WE HAVE SEEN LACK OF CONVICTION BY FII’S AS THEY ARE STILL ON A NEGATIVE TRACK WHICH IS HURTING THE SENTIMENT OF THE INVESTORS ON THE LONG RUN, THEY ARE RELENTLESSLY PLOUGHING BACK THEIR FUNDS FROM THE MARKETS ON EXPECTATIONS THAT MACROECONOMIC HEADWINDS WILL EAT IN TO THEIR RETURNS IN THE TIME TO COME AND FORCE THE STOCK MARKETS TO UNDERPERFORM. INITIALLY MARKETS GOT OFF TO AN OPTIMISTIC START ON THE BACK OF SUPPORTIVE CUES FROM SOME OF THE ASIAN MARKETS WHICH INFLUENCED BY THE OPTIMISTIC CLOSE OF WALL STREET ON THE BACK OF BETTER THAN ANTICIPATED US PAYROLLS DATA ON THE LAST TRADING DAY. BUYING GATHERED SOME PACE IN THE INITIAL HOURS OF SECOND HALF AS INVESTORS COVERED THEIR SHORT POSITIONS HOWEVER, PROFIT BOOKING AT HIGHER LEVELS EVENTUALLY LED THE BOURSES TO SNAP THE SESSION AROUND PREVIOUS CLOSING LEVELS. BREADTH OF THE MARKETS REMAINED NEGATIVE.
TODAY MARKETS WOULD OPEN FLAT AND REMAIN RANGE BOUND. IF NIFTY TRADES ABOVE 5574 THEN LIKELY TO MAKE AN UPMOVE TO 5592 LEVELS AND ANY BREACH ABOVE THIS POINT WOULD TAKE NIFTY TO 5618 LEVELS AND THEN TO 5634 LEVELS, ANY CLOSE ABOVE 5600 WOULD BE CONSIDERED AS A GOOD BUY FOR THE NEXT SESSION. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5550 THEN LIKELY TO MAKE A SLIDE DOWN TO 5525 LEVELS AND BREACH BELOW THIS WOULD TAKE NIFTY TO 5503 AND ANY TRADE BELOW 5500 WOULD TAKE NIFTY TO MUCH LOWER LEVELS, IF TRADED BELOW 5500 THEN LIKELY TO SEE IMMEDIATELY AT 5470 LEVELS IF NIFTY CLOSES BELOW 5500 WE CAN SEE SOME MORE SLIDE IN THE DAYS AHEAD. ONE SHOULD BE CAREFUL BELOW 5500 AND ABOVE 5600 THIS 100 POINT BAND IS CRUCIAL FOR THE NIFTY IN THE DAYS AHEAD.
BUY HINDUSTAN UNILEVER SL 283 TGT 290/294/297
BUY BATA(I) SL 450 TGT 463/471/476
BUY SUMEET INDS SL 40 TGT 42.50/44/46
POSITIONAL TRADES
BUY MAN INDS TGT 125*
BUY COAL INDIA TGT 450*
BUY FEDERAL BANK SL 395 TGT 458/500*
TODAY MARKETS WOULD OPEN FLAT AND REMAIN RANGE BOUND. IF NIFTY TRADES ABOVE 5574 THEN LIKELY TO MAKE AN UPMOVE TO 5592 LEVELS AND ANY BREACH ABOVE THIS POINT WOULD TAKE NIFTY TO 5618 LEVELS AND THEN TO 5634 LEVELS, ANY CLOSE ABOVE 5600 WOULD BE CONSIDERED AS A GOOD BUY FOR THE NEXT SESSION. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5550 THEN LIKELY TO MAKE A SLIDE DOWN TO 5525 LEVELS AND BREACH BELOW THIS WOULD TAKE NIFTY TO 5503 AND ANY TRADE BELOW 5500 WOULD TAKE NIFTY TO MUCH LOWER LEVELS, IF TRADED BELOW 5500 THEN LIKELY TO SEE IMMEDIATELY AT 5470 LEVELS IF NIFTY CLOSES BELOW 5500 WE CAN SEE SOME MORE SLIDE IN THE DAYS AHEAD. ONE SHOULD BE CAREFUL BELOW 5500 AND ABOVE 5600 THIS 100 POINT BAND IS CRUCIAL FOR THE NIFTY IN THE DAYS AHEAD.
BUY HINDUSTAN UNILEVER SL 283 TGT 290/294/297
BUY BATA(I) SL 450 TGT 463/471/476
BUY SUMEET INDS SL 40 TGT 42.50/44/46
POSITIONAL TRADES
BUY MAN INDS TGT 125*
BUY COAL INDIA TGT 450*
BUY FEDERAL BANK SL 395 TGT 458/500*
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