GOOD MORNING!!!
MARKETS BEGAN THE DAY ON A POWERFUL NOTE TRACKING CUES FROM THE ASIAN MARKETS WHICH CLIMBED AFTER INVESTORS TURNED OPTIMISTIC ON THE BACK OF OPTIMISTIC LEADS FROM THE OVERNIGHT US MARKETS AND DECLINE IN CRUDE PRICES. MARKETS STARTED ON A FIRM NOTE AND SCALED HIGHER AND HIGHER AS THE DAY PROGRESSED, MARKETS GATHERED STRENGTH TO STRENGTH AND THERE WAS COMPLETE ABSENCE OF PROFIT BOOKING WHICH HAS FURTHER IGNITED MARKETS TO REACH HIGHER HIGHS IN THE MARKET AND REGISTERED THE BIGGEST INTRADAY GAINS IN THE YEAR, THE MARKET BREADTH WAS EXTREMELY OPTIMISTIC. ALL-IN-ALL A FANTASTIC DAY FOR THE MARKETS.
TODAY MARKETS WOULD OPEN FLAT AND REMAIN RANGE BOUND INITIALLY. IF NIFTY TRADES ABOVE 5556 THEN LIKELY TO MOVE UP TO 5590 LEVELS AND BREAK ABOVE THIS POINT NIFTY WOULD PHASE RESISTANCE AROUND 5600 LEVELS AND TRADE ABOVE 5600 LEVELS WOULD TAKE IT TO 5642 LEVELS AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5530 LEVELS WE CAN SEE NIFTY TO COME DOWN TO 5490 LEVELS AND TRADE BELOW THIS LEVEL WOULD DRAG NIFTY DOWN TO 5450 LEVELS ONE HAS TO STAY CAUTIOUS IF NIFTY TRADES BELOW 5450. KEY POINT IN NIFTY WHICH ONE SHOULD REMEMBER IS NIFTY STILL DIDN’T CATCH THE STRENGTH AS THE UNDERTONE STILL REMAINS BEARISH ONE HAS TO BE VERY CAUTIOUS IN THE NIFTY WE ARE LIKELY TO HEAD DOWN.
TODAY MARKETS WOULD OPEN FLAT AND REMAIN RANGE BOUND INITIALLY. IF NIFTY TRADES ABOVE 5556 THEN LIKELY TO MOVE UP TO 5590 LEVELS AND BREAK ABOVE THIS POINT NIFTY WOULD PHASE RESISTANCE AROUND 5600 LEVELS AND TRADE ABOVE 5600 LEVELS WOULD TAKE IT TO 5642 LEVELS AND ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5530 LEVELS WE CAN SEE NIFTY TO COME DOWN TO 5490 LEVELS AND TRADE BELOW THIS LEVEL WOULD DRAG NIFTY DOWN TO 5450 LEVELS ONE HAS TO STAY CAUTIOUS IF NIFTY TRADES BELOW 5450. KEY POINT IN NIFTY WHICH ONE SHOULD REMEMBER IS NIFTY STILL DIDN’T CATCH THE STRENGTH AS THE UNDERTONE STILL REMAINS BEARISH ONE HAS TO BE VERY CAUTIOUS IN THE NIFTY WE ARE LIKELY TO HEAD DOWN.
BUY JSWSTEEL SL 937 TGT 960/974/988
BUY RECLTD ABOVE 251 SL 248 TGT 255/259/265
SELL UNION BANK BELOW 323 SL 329 TGT 321/317/314 (VERY SHORT TERM 300)
