GOOD MORNING!!!
YET AGAIN ANOTHER DISAPPOINTING PERFORMANCE IN THE DALAL STREET AFTER A RESILIENT SHOW ON PREVIOUS SESSION. MARKETS GOT TO A POSITIVE START TRACKING MOST ASIAN INDICES EXTENDED THEIR GAINS IN THE MORNING TRADE AS GAINS IN TECHNOLOGY RELATED STOCKS UNDERPINNED SENTIMENTS. HOWEVER THE FRONTLINE INDICES DRIFTED INTO THE NEGATIVE TERRITORY IN NO TIME AS VOLATILITY CREPT IN. THOUGH MARKETS TRADED IN THE GREEN IN THE INITIAL MOMENTS OF THE SECOND HALF BUT A SUDDEN SHARP CUT WAS WITNESSED IN THE LATE TRADE AND INDICES TUMBLED DEEP INTO THE RED. THEREAFTER THERE WERE NO SIGNS OF SIZEABLE RECOVERY ATTEMPT WHICH COULD LEAD THE INDICES IN GREEN AND THEY FINALLY SETTLED WITH CUTS OF AROUND HALF A PERCENT. ON THE SECTORAL FRONT METALS SAW HUGE BUYING INTEREST AND WAS UP BY AROUND 1.76%, REAL ESTATE GAINED AROUND 1.7% ON THE FLIP SIDE WE HAVE SEEN CAPITAL GOODS, OIL & GAS ALONG WITH IT SAW SOME PROFIT BOOKING.
TODAY MARKETS WOULD SEE A NEGATIVE START TRACKING WEAK CLOSING OF US MARKETS AND EUROPEAN MARKETS ALONG WITH IT THE WEAK OPENING OF ASIAN INDICES WHICH WOULD PAVE WAY FOR INDIAN MARKETS TO START OFF WITH A NEGATIVE OPENING. TODAY IF NIFTY TRADES BELOW 5680 LIKELY TO COME DOWN TO 5658 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 5628 LEVELS AND FURTHER BREACH BELOW THAT LEVEL WOULD DRAG NIFTY TO 5600 BUT ANY BREAK BELOW 5600 ONE CAN SEE A BEAR PHASE TO COME IN. ON THE FLIP SIDE IF NIFTY TRADES ABOVE 5700 THEN LIKELY TO MAKE IT UPWARD JOURNEY TO 5720 AND THEN TO 5740 LEVELS WHICH IS REMOTE IN TODAY TRADE.
BUY TATA COFFEE SL 663 TGT 690/712/722 (SHORT TERM 800/900/1000)
TODAY MARKETS WOULD SEE A NEGATIVE START TRACKING WEAK CLOSING OF US MARKETS AND EUROPEAN MARKETS ALONG WITH IT THE WEAK OPENING OF ASIAN INDICES WHICH WOULD PAVE WAY FOR INDIAN MARKETS TO START OFF WITH A NEGATIVE OPENING. TODAY IF NIFTY TRADES BELOW 5680 LIKELY TO COME DOWN TO 5658 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 5628 LEVELS AND FURTHER BREACH BELOW THAT LEVEL WOULD DRAG NIFTY TO 5600 BUT ANY BREAK BELOW 5600 ONE CAN SEE A BEAR PHASE TO COME IN. ON THE FLIP SIDE IF NIFTY TRADES ABOVE 5700 THEN LIKELY TO MAKE IT UPWARD JOURNEY TO 5720 AND THEN TO 5740 LEVELS WHICH IS REMOTE IN TODAY TRADE.
BUY TATA COFFEE SL 663 TGT 690/712/722 (SHORT TERM 800/900/1000)
