GOOD MORNING!!!
INDICES COMMENCED ON A CAUTIOUS NOTE TRACKING THE MIXED CUES FROM THE ASIAN MARKETS AND INVESTORS ALSO REMAINED APPREHENSIVE OWING TO THE RENEWED UNCERTAINTIES IN EGYPT AFTER PRESIDENT HOSNI MUBARAK SAID HE WOULD TRANSFER THE REINS OF POWER TO HIS VICE PRESIDENT, BUT WOULD NOT STEP DOWN BEFORE ELECTIONS IN SEPTEMBER. SENTIMENTS STAYED WEAK THROUGH THE LATE MORNING AND EARLY AFTERNOON SESSION AS THE WEAKER THAN EXPECTED DECEMBER IIP DATA WEIGHED. HOWEVER, THERE APPEARED SOME RESURGENCE IN THE MARKETS AFTER PLANNING COMMISSION DEPUTY CHAIRMAN, MONTEK SINGH OPINED THAT VOLATILE IIP IS NOT A FITTING INDICATOR OF OVERALL GDP AND ALSO AFFIRMED THAT THE ECONOMIC GROWTH IS ON TRACK AND WILL SURELY ACHIEVE THE FORECASTED TARGET OF 8.5% GROWTH FOR THE FISCAL YEAR 2011. INDICES SLOWLY AND STEADILY SURGED THEREAFTER AS BANKING AND FINANCIAL STOCKS SOARED. THE MARKETS EVENTUALLY SETTLED AROUND THE HIGH POINT OF THE DAY AND WENT HOME WITH STRONG GAINS. THE MARKET BREADTH WAS POSITIVE AS THERE WAS HEFTY BOTTOM FISHING IN THE SECOND HALF OF TRADE UNDERPINNED THE INDICES. GOOD BUYING INTERESTS WERE WITNESSED IN MAJORITY OF BEATEN DOWN HEAVYWEIGHTS STOCKS.
TODAY MARKETS WILL HAVE A POSITIVE MOMENTUM OF FRIDAY AND CONTINUE TO RALLY FURTHER ON BARGAIN HUNTING. MAJORITY OF THE SHARES WOULD TURN ON A POSITIVE NOTE IF MARKETS CLOSE ON A POSITIVE NOTE. IF NIFTY TRADES ABOVE 5330 THEN LIKELY TO MOVE UP TO 5364 AND BREAK ABOVE THIS POINT WOULD TAKE IT FURTHER TO 5400 AND ANY TRADE ABOVE 5400 WOULD TAKE NIFTY 5500 LEVEL IN A VERY SHORT WHILE, ANY CLOSE ABOVE 5350 WOULD TAKE NIFTY TO 5500 LEVELS IN THE VERY NEAR TERM. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5300 LEVELS WE CAN SEE IT TO SLIDE DOWN TO 5266 AND THEN TO 5230 LEVELS AND ANY CLOSE BELOW 5300 WOULD AGAIN BE CONSIDERED AS NEGATIVE AND ONE CAN TAKE A SHORT POSITION POSITIONALLY AS WELL AND ANY CLOSE ABOVE 5350 ONE CAN TAKE A LONG POSITION ON POSITIONAL BASIS.
BUY HDFC SL 618 TGT 630/636/643
BUY CMAHENDRA SL 177 TGT 183/188/194
TODAY MARKETS WILL HAVE A POSITIVE MOMENTUM OF FRIDAY AND CONTINUE TO RALLY FURTHER ON BARGAIN HUNTING. MAJORITY OF THE SHARES WOULD TURN ON A POSITIVE NOTE IF MARKETS CLOSE ON A POSITIVE NOTE. IF NIFTY TRADES ABOVE 5330 THEN LIKELY TO MOVE UP TO 5364 AND BREAK ABOVE THIS POINT WOULD TAKE IT FURTHER TO 5400 AND ANY TRADE ABOVE 5400 WOULD TAKE NIFTY 5500 LEVEL IN A VERY SHORT WHILE, ANY CLOSE ABOVE 5350 WOULD TAKE NIFTY TO 5500 LEVELS IN THE VERY NEAR TERM. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5300 LEVELS WE CAN SEE IT TO SLIDE DOWN TO 5266 AND THEN TO 5230 LEVELS AND ANY CLOSE BELOW 5300 WOULD AGAIN BE CONSIDERED AS NEGATIVE AND ONE CAN TAKE A SHORT POSITION POSITIONALLY AS WELL AND ANY CLOSE ABOVE 5350 ONE CAN TAKE A LONG POSITION ON POSITIONAL BASIS.
BUY HDFC SL 618 TGT 630/636/643
BUY CMAHENDRA SL 177 TGT 183/188/194
