GOOD MORNING!!!
THE BOURSES COMMENCED THE DAY IN THE POSITIVE TERRITORY AS OPTIMISTIC GLOBAL CUES SUPPORTED INVESTOR SENTIMENTS. HOWEVER, THE FRONTLINE INDICES COULD NOT CAPITALIZE ON TO THE EARLY GAINS AND DRIFTED INTO THE RED IN VERY EARLY TRADE AS INVESTORS OPTED TO TAKE PROFITS OFF THE TABLE AT HIGHER LEVELS. THE INDICES REMAINED CHOPPY THROUGH THE SESSION AND THE SELL-OFF IN THE DYING HOURS OF TRADE LED THE INDICES TO CLOSE LOWER. VOLUMES IN THE MARKETS PICKED-UP TO SOME EXTENT COMPARED TO LAST THREE TRADING SESSIONS. FMCG WAS THE BIGGEST GAINER IN THE SECTOR WHILE BANK INDEX WAS THE BIGGEST LOOSER IN THE SECTORAL FRONT.
TODAY MARKETS LOOKS WEAK ON WEAK GLOBAL CUES, TODAY IF NIFTY TRADES BELOW 6146 THEN LIKELY TO DRIFT DOWN TO 6105 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY DOWN TO 6070 LEVELS AND THEN TO 6050 LEVELS, ANY CLOSE BELOW 6145 ONE CAN STAY SHORT ON A POSITIONAL FRONT. ON THE FLIP SIDE IF NIFTY TRADES ABOVE 6180 THEN LIKELY TO MOVE UP TO 6210 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6240 LEVELS WHERE THIS POINT WOULD ACT AS A TOUGHEST RESISTANCE. TODAY METALS MAY FACE SOME WEAKNESS.
BUY EXIDE INDS SL 171.55 TGT 173.90/175.25/177.65
BUY ALSTOM PROJECTS SL 721.40 TGT 734/741/753.80 (SHORT TERM 850/925)**
BUY GRASIM SL 2414 TGT 2439/2451/2471
POSITIONAL TRADES
BUY CESC TGT 420
BUY PRAJ INDS TGT 110/125*
BUY CAIRN TGT 390
BUY JINDAL STEEL AND POWER TGT 830/870
