GOOD MORNING!!!
INDICES STARTED-OFF WITH A VERY VOLATILE SESSION TRACKING ASIAN MARKETS WHICH WERE TRADING WITH A NEGATIVE BIAS, A TERRIBLE FIRST DAY OF A NEW WEEK AS THE BLOOD BATH CONTINUED FOR THE FIFTH STRAIGHT DAY OF TRADE TAKING THE BENCHMARK INDICES WAY BELOW THE PSYCHOLOGICAL LEVELS. THE FRONTLINE INDICES REMAINED CHOPPY AND FAILED TO RECOVER AT ANY STAGE. MARKETS SAW RELENTLESS SELLING PRESSURE ACROSS THE COUNTERS AS RATE HIKE FEARS AND WEAK OPENING OF EUROPEAN MARKETS DRAGGED THE FRONTLINE INDICES, THE SLAUGHTER IN THE LATE HOURS ENSURED THAT THE BOURSES WENT HOME WITH MASSIVE LOSSES AND CLOSE AROUND THE LOW POINT OF THE DAY. VOLUMES SAW SUBSTANTIAL PICK UP COMPARED TO LAST FEW DAYS. THE MARKET BREADTH WAS DREADFULLY NEGATIVE. ALL THE SECTORAL INDICES WERE IN RED.
TODAY MARKETS WOULD OPEN FLAT AND REMAIN RANGE BOUND BUT IF NIFTY BREAKS 5750 THEN LIKELY TO COME DOWN TO 5713 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 5670 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5781 THEN LIKELY TO MOVE UP TO 5820 AND THEN TO 5862 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5890 LEVELS. MARKETS ARE LOOKING VERY WEAK AS OF NOW AND ONE IS ADVISED NOT TO GO LONG.
BUY SATYAM SL 88.80 TGT 91.5/93.40/94.50
BUY OFSS ABOVE 2180 SL 2173 TGT 2195/2211/2222
