GOOD MORNING!!!
MARKETS GOT OFF TO A WOBBLING START TRACKING MIXED CUES FROM THE ASIAN MARKETS, FRONTLINE INDICES SEE-SAWED AROUND THE NEUTRAL LINE IN A VERY TIGHT BAND IN THE INITIAL HOURS AS INVESTORS REMAINED A BIT CAUTIOUS, HOWEVER SOME GOOD BUYING ON SOME STOCK SPECIFIC COUNTERS WHICH GOT TRIGGERED ON THE BACK OF THE DROP IN FOOD INFLATION NUMBERS TO A TWO-MONTH LOW LEVEL HAS IGNITED THE MARKETS TO INCLINE TO HIGHER LEVELS SURPASSING THE RECENT HIGHS OF THE MARKETS, THEREAFTER AS INVESTORS GRADUALLY STARTED BUILDING UP POSITIONS WHICH HELPED THE BENCHMARKS TO SNAP AROUND HIGH POINT OF THE DAY TO EVENTUALLY SETTLE IN THE GREEN FOR FIVE STRAIGHT SESSIONS.
TODAY MARKETS WOULD OPEN FLAT TO POSITIVE, IF NIFTY TRADES ABOVE 5550 THEN LIKELY TO MOVE UP TO 5576 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5597 AND ANY CLOSE ABOVE 5567 IS AGAIN POSITIVE FOR THE MARKETS. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5538 THEN LIKELY TO COME DOWN TO 5491 LEVELS AND BREAK BELOW THIS POINT WOULD SEE FURTHER DOWNSIDE IN NIFTY TO 5457 LEVELS AND ANY CLOSE BELOW 5450 IS CONSIDERED TO BE WEAK IN COMING DAYS. NIFTY MAY TRADE POSITIVE IF ASIAN MARKETS SUPPORT AND MAY RALLY IN THE FIRST HALF AND MAY START GIVING AWAY THE GAINS IN THE SECOND HALF ONE IS ADVISED TO STAY CAUTIOUS ON THE LONGS SINCE THERE IS EVERY POSSIBILITY THAT MARKETS MAY SUDDENLY CHANGE THE DIRECTION AND SINCE THE WEEK AHEAD IS OF EXPIRY WE MAY SEE A VERY VOLATILE SESSION GOING FORWARD.
