GOOD MORNING!!!
INDICES STARTED ON A QUIET NOTE AFTER BAD CLOSING ON MONDAY ON THE BACK OF GEO-POLITICAL CONCERNS, RISING OIL PRICES AND DOMESTIC POLITICAL TURMOIL, AS INVESTORS REMAINED WATCHFUL GIVEN THAT THE CUES FROM OVERNIGHT US MARKETS TOO REMAINED SUBDUED. HOWEVER THE FRONTLINE INDICES GAINED TRACTION IMMEDIATELY AFTER THE FLAT START AS CRUDE OIL PRICES SHOWED SOME SIGNS OF EASING IN THE EARLY HOURS. AFTER GYRATING IN A NARROW BAND FOR A LONG TIME, THE MARKET MOVED HIGHER IN LATE AFTERNOON TRADE AS INVESTORS RESORTED TO HEFTY BUYING IN FUNDAMENTALLY STRONG AND BEATEN DOWN SHARES. MARKET BREADTH WAS POSITIVE.
MATERIALIZED EFFORTS ON SEAT SHARING BETWEEN RULING UPA ALLIES CONGRESS AND THE DMK HAS COME TO AN END ON A POSITIVE NOTE WHICH WILL BOOST THE INDIAN MARKETS IN THE INITIAL OPENING OF THE TRADE. MARKETS TODAY WOULD OPEN POSITIVE TRACKING NOT ONLY THE POLITICAL ISSUE BUT ALSO THE POSITIVE SIGNS OF US AND OTHER MARKETS. IF NIFTY TRADES ABOVE 5543 THEN LIKELY TO MOVE UP TO 5561 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5597 LEVELS AND ANY BREAK ABOVE THIS WOULD FURTHER TAKE NIFTY TO 5614 LEVELS. STAY CAUTIOUS AT EVERY HIGHER LEVEL IN NIFTY FOR NOW WE WILL HAVE TO WITNESS SOME DOWNSIDE AGAIN IN A VERY SHORT RUN. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5532 THEN LIKELY TO MOVE DOWN TO 5512 LEVELS AND THEN TO 5480 AND ANY BREAK BELOW THIS POINT WOULD DRAG NIFTY TO 5460 LEVELS AND ANY CLOSE BELOW THIS POINT WOULD TAKE NIFTY TO FURTHER DOWNSIDE IN THE NEXT FEW SESSIONS.
BUY APOLLO TYRES SL 60 TGT 73 (POSITIONAL)
BUY TECHM SL 738 TGT 765/784/792 (SHORT TERM 880) ** MUST BUY
