GOOD MORNING!!!
MARKETS GOT OFF TO A POSITIVE START, SEEMED AS IF IT WOULD SUSTAIN THE WAY MARKET GOT OPENED, FRONTLINE INDICES LOOKED TO CONSOLIDATE AFTER TWO DAYS OF HUGE FREEFALL BUT IT PROVED TO BE VERY SHORT LIVED AS INDICES DIPPED INTO THE RED AFTER AN HOUR OF TRADE AND AGAIN MOVED BACK INTO A VERY POSITIVE ZONE WITH A VERY WILD FLUCTUATIONS IN THE MARKETS AND IT PROVED TO BE SHORT LIVED AFTER TOUCHING INTRADAY HIGH, THE MARKETS MOVED UP AND DOWN AROUND 600 POINTS IN NIFTY WHICH IS ALMOST THE HIGHEST FLUCTUATIONS IN THE RECENT PAST, IT WAS A VERY WILD FLUCTUATION. HOWEVER, THE CLOSING SENTIMENT IN THE INDICES COULD SUSTAIN THE CRUCIAL 19,000 AND 5,700 SUPPORT LEVELS AND BOUNCE BACK INTO THE GREEN TO EVENTUALLY SETTLE ON AN ABSOLUTELY FLAT NOTE IN THE LAST HALF AN HOUR OF TRADE. BANKING SECTOR SAW SOME GOOD MOVEMENT AS INDIAN BANKS' ASSOCIATION URGING THE CENTRAL BANK TO CUT CASH RESERVE RATIO (CRR) AND STATUTORY LIQUIDITY RATIO (SLR) IN THE RESERVE BANK OF INDIA (RBI)’S PRE-CREDIT POLICY MEETING WHICH IS GOING TO BE HELD ON 25 OF THIS MONTH. OVERALL BREADTH OF THE MARKET REMAINED WEAK.
TODAY NIFTY MAY OPEN POSITIVE TRACKING POSITIVE AMERICAN CLOSING, IF NIFTY TRADES ABOVE 5782 THEN LIKELY TO MAKE ITS UPWARD JOURNEY TO 5820 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKENIFTY TO 5850 LEVELS AND ANY TRADE ABOVE 5850 WOULD TAKE NIFTY TO 5900 LEVELS. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5760 LEVELS THEN ONE CAN SEE NIFTY TO SLIDE DOWN TO 5725 AND THEN TO 5700 AND ANY BREAK BELOW 5700 WOULD TAKE NIFTY TO 5675 AND BELOW THIS POINT 5635 LEVELS, IF NIFTY CLOSES BELOW 5700 ONE CAN SEE NIFTY TO SLIDE DOWN FURTHER TO 5625 LEVELS. ONE HAS TO BE VERY CAUTIOUS IN THE MARKET AND STRICTLY FOLLOW THE LEVELS INDICATED.
BUY SESAGOA SL 329 TGT 336/343/346 (SHORT TERM 360)
BUY MPHASIS SL 671 TGT 684/692/704
BUY CORE PROJECTS SL 270 TGT 279.60/284/288
TODAY NIFTY MAY OPEN POSITIVE TRACKING POSITIVE AMERICAN CLOSING, IF NIFTY TRADES ABOVE 5782 THEN LIKELY TO MAKE ITS UPWARD JOURNEY TO 5820 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKENIFTY TO 5850 LEVELS AND ANY TRADE ABOVE 5850 WOULD TAKE NIFTY TO 5900 LEVELS. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5760 LEVELS THEN ONE CAN SEE NIFTY TO SLIDE DOWN TO 5725 AND THEN TO 5700 AND ANY BREAK BELOW 5700 WOULD TAKE NIFTY TO 5675 AND BELOW THIS POINT 5635 LEVELS, IF NIFTY CLOSES BELOW 5700 ONE CAN SEE NIFTY TO SLIDE DOWN FURTHER TO 5625 LEVELS. ONE HAS TO BE VERY CAUTIOUS IN THE MARKET AND STRICTLY FOLLOW THE LEVELS INDICATED.
BUY SESAGOA SL 329 TGT 336/343/346 (SHORT TERM 360)
BUY MPHASIS SL 671 TGT 684/692/704
BUY CORE PROJECTS SL 270 TGT 279.60/284/288
OPTIONS:
ONE CAN BUY CALL IF NIFTY TRADES ABOVE 5780 LEVELS WITH STOPLOSS OF 5740 LEVELS. AND BUY PUTS ONLY IF NIFTY TRADES BELOW 5700 LEVELS.
