WISHING YOU A VERY HAPPY NEW YEAR!!!
MARKETS BID ADIEU TO THE YEAR 2010 ON A HIGH NOTE AS THEY ENDED THE DAY ON AN OPTIMISTIC, THE MARKETS GOT OFF TO A POSITIVE START DESPITE THE MIXED CUES FROM THE GLOBAL PEERS. INDICES MANAGED TO EXTEND THEIR GAINS FOR THE THIRD STRAIGHT DAY AS THEY CONTINUED TO GARNER STRENGTH THROUGH THE DAY’S TRADE DESPITE GYRATING IN A NARROW RANGE. INVESTORS REMAINED CAUTIOUS EARLY IN THE DAY BUT SENTIMENTS IMPROVED AS THE DAY PROGRESSED. INDICES MOVED IN A NARROW RANGE WITH A POSITIVE BIAS AND MANAGED TO TOUCH THEIR INTRADAY HIGHS IN THE INITIAL MOMENTS OF THE SECOND HALF. THE MARKET BREADTH WAS POSITIVE; REALTY, AUTO STOCKS LEADING FROM THE FRONT
TODAY MARKETS WOULD OPEN FLAT TO POSITIVE BUT WOULD REMAIN IN A NARROW RANGE BOUND. IF NIFTY TRADES ABOVE 6180 THEN LIKELY TO MAKE AN UP MOVE TILL 6200 AND THEN BREAK ABOVE THIS POINT WOULD TAKE IT TO 6240 LEVELS AND ON THE FLIP SIDE IF NIFTY TRADES BELOW 6160 THEN LIKELY TO COME DOWN TO 6130 AND THEN BREAK BELOW THIS POINT WOULD DRAG IT TO 6102 LEVELS AND BREAK BELOW THIS POINT WOULD TAKE IT TO 6070 LEVELS ANY CLOSE BELOW 6070 ONE CAN REMAIN POSITIONALLY SHORT.
TODAY MARKETS WOULD OPEN FLAT TO POSITIVE BUT WOULD REMAIN IN A NARROW RANGE BOUND. IF NIFTY TRADES ABOVE 6180 THEN LIKELY TO MAKE AN UP MOVE TILL 6200 AND THEN BREAK ABOVE THIS POINT WOULD TAKE IT TO 6240 LEVELS AND ON THE FLIP SIDE IF NIFTY TRADES BELOW 6160 THEN LIKELY TO COME DOWN TO 6130 AND THEN BREAK BELOW THIS POINT WOULD DRAG IT TO 6102 LEVELS AND BREAK BELOW THIS POINT WOULD TAKE IT TO 6070 LEVELS ANY CLOSE BELOW 6070 ONE CAN REMAIN POSITIONALLY SHORT.
BUY HDFC SL 729 TGT 736/740/744
BUY RANBAXY SL 600 TGT 608/613/619
BUY ALOK TEXTILES SL 27.70 TGT 28.40/28.80/29.50
BUY JSW ENERGY SL 99 TGT 101/102.25/104
BUY BALLARPUR INDS SL 38.7 TGT 39.80/40.30/41.30
POSITIONAL TRADES
BUY REI AGRO CMP 27.20 TGT 35/40
