GOOD MORNING!!!
INDICES THOUGH OPENED FLAT TO NEGATIVE THERE WAS ALL OF A SUDDEN BUYING SEEN ACROSS THE BOARD BUT THERE WERE NO SIGNS OF CONVICTION IN THE TRADE. THE INDEX GYRATED AROUND THE NEUTRAL LINE IN A NARROW BAND THROUGH THE FIRST HALF IN THE ABSENCE OF ANY OPTIMISTIC MARKET TRIGGERS. BUT BUDGET-RELATED POSITIVE NEWS FLOW AND SOFTENING INFLATION EASED INVESTORS' APPREHENSIONS AS THE INDIECES SAW A BOUNCE BACK POST-NOON. SANGUINE SENTIMENTS IN THE DYING HOURS HELPED THE LOCAL BOURSES PULL THROUGH A SCINTILLATING INTRADAY U-TURN AND SETTLE AROUND THE HIGH POINT OF THE DAY. THE INDICES EVENTUALLY WENT HOME WITH OVER A PERCENT GAIN ON THE INITIAL DAY OF F&O EXPIRY WEEK AND FOUR WORKING DAYS AHEAD OF THE BUDGET 2011.
TODAY NIFTY WOULD OPEN NEGATIVE TRACKING WEAK GLOBAL EUROPEAN MARKETS AND ASIAN INDICES. THOUGH NIFTY LOOKED POSITIVE AT THE LAST DAYS TRADE AND CLOSING, THERE IS LOT OF NEGATIVE SIGNS UNDERNEATH THE MARKETS WHICH ARE STILL LEFT UNATTENDED BY THE BULLS, WHERE ONE NEEDS TO BE VERY CAREFUL ON THE POSITIVE FRONT OF NIFTY. IF NIFTY TRADES BELOW 5512 THEN LIKELY TO COME DOWN TO 5484 AND THEN BREAK BELOW THAT WOULD TAKE IT TO 5450 AND ANY BREAK BELOW THIS POINT IS AGAIN VERY CRUCIAL WOULD NOT LET NIFTY TO REVERSE AS IT DID IN THE LAST DAY WOULD DRAG NIFTY TO FURTHER DOWNSIDE. IF NIFTY HAPPENS TO CLOSE BELOW 5400 THEN ONE CAN SEE NIFTY TO BREACH PREVIOUS LOWS I.E., 5200 AS WELL AND GO DOWN FURTHER MORE. ON THE FLIP SIDE IF NIFTY TRADES ABOVE 5541 THEN LIKELY TO MOVE UP TO 5560 AND THEN TO 5580 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5600 LEVELS ONE NEEDS TO BE VERY CAREFUL AT 5580 LEVELS IF IT DOESN’T SUSTAIN MAY DRAG NIFTY DOWN AND IF IT BREACHES THEN MAY GO UP TO 5600 LEVELS BUT ANY UPSIDE IN NIFTY THERE IS EVERY POSSIBILITY THAT NIFTY WOULD COME DOWN ALL OF A SUDDEN. ONE NEEDS TO KEEP IN MIND THAT ANY INCLINE FROM THIS POINT IS CONSIDERED TO BE A SELLING POINT THAN A BUYING POINT.
BUY MOTHERSON SUMI ABOVE 193.75 SL 191 TGT 198/200/203
BUY TIME TECHNOPLAST ABOVE 56.40 SL 55.85 TGT 58/59/60
TODAY NIFTY WOULD OPEN NEGATIVE TRACKING WEAK GLOBAL EUROPEAN MARKETS AND ASIAN INDICES. THOUGH NIFTY LOOKED POSITIVE AT THE LAST DAYS TRADE AND CLOSING, THERE IS LOT OF NEGATIVE SIGNS UNDERNEATH THE MARKETS WHICH ARE STILL LEFT UNATTENDED BY THE BULLS, WHERE ONE NEEDS TO BE VERY CAREFUL ON THE POSITIVE FRONT OF NIFTY. IF NIFTY TRADES BELOW 5512 THEN LIKELY TO COME DOWN TO 5484 AND THEN BREAK BELOW THAT WOULD TAKE IT TO 5450 AND ANY BREAK BELOW THIS POINT IS AGAIN VERY CRUCIAL WOULD NOT LET NIFTY TO REVERSE AS IT DID IN THE LAST DAY WOULD DRAG NIFTY TO FURTHER DOWNSIDE. IF NIFTY HAPPENS TO CLOSE BELOW 5400 THEN ONE CAN SEE NIFTY TO BREACH PREVIOUS LOWS I.E., 5200 AS WELL AND GO DOWN FURTHER MORE. ON THE FLIP SIDE IF NIFTY TRADES ABOVE 5541 THEN LIKELY TO MOVE UP TO 5560 AND THEN TO 5580 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5600 LEVELS ONE NEEDS TO BE VERY CAREFUL AT 5580 LEVELS IF IT DOESN’T SUSTAIN MAY DRAG NIFTY DOWN AND IF IT BREACHES THEN MAY GO UP TO 5600 LEVELS BUT ANY UPSIDE IN NIFTY THERE IS EVERY POSSIBILITY THAT NIFTY WOULD COME DOWN ALL OF A SUDDEN. ONE NEEDS TO KEEP IN MIND THAT ANY INCLINE FROM THIS POINT IS CONSIDERED TO BE A SELLING POINT THAN A BUYING POINT.
BUY MOTHERSON SUMI ABOVE 193.75 SL 191 TGT 198/200/203
BUY TIME TECHNOPLAST ABOVE 56.40 SL 55.85 TGT 58/59/60
