GOOD MORNING!!!
MARKETS STARTED ON A POSITIVE NOTE CROSSING THEIR RESPECTIVE PSYCHOLOGICAL LEVELS OF 18500 AND 5500 RESPECTIVELY IN START OF THE TRADE. HIGH BETA STOCKS TOOK THE LEAD OF THE MARKETS WHILE IT AND TECH STOCKS HAVE WITNESSED WEAKNESS ON DOLLAR WEAKNESS. IN THE LATER PART OF THE TRADING SESSION THERE SEEMED SOME PROFIT BOOKING STARTED WITH THE NEWS OF SOME ESCALATION IN THE LIBYAN UNREST AND THE BUZZ OF GOVERNMENT PLAN TO RE-REGULATE THE PETROL PRICES, THOUGH THE RATE SENSITIVE STOCKS TRIED HARD BUT INTENSE SELLING IN THE HEALTHCARE, OIL & GAS AND IT SECTOR STOCKS TOOK THE MARKETS DOWN TOUCHING THEIR INTRADAY LOWS. THE BROADER INDICES CONTINUED FIRM THROUGHOUT THE DAY AND HELPED THE MARKETS TO REMAIN FIRM THOUGH THE ENTIRE TRADING DAY WAS WITH FULL OF VOLATILITY, OVERALL THE BREATH OF THE MARKET REMAINED POSITIVE EVEN AFTER SOME SELL-OFF AT THE FAG END OF THE TRADING SESSION WHICH TOOK MARKETS TO NEGATIVE BUT MANAGED TO CLOSE FLAT AT THE END OF THE TRADE.
TODAY MARKETS WOULD BE VOLATILE AND RANGE BOUND, IF NIFTY TRADES BELOW 5530 MAY SLIDE DOWN TO 5504 LEVELS AND BREAK BELOW 5500 LEVELS WOULD TAKE NIFTY TO 5476 AND THEN TO 5453 LEVELS BUT ANY CLOSE BELOW 5450 WOULD TAKE NIFTY FURTHER DOWNSIDE IN THE COMING WEEK ON THE FLIP SIDE IF NIFTY TRADE ABOVE 5570 THEN LIKELY TO MAKE AN UPMOVE TO 5592 AND THEN BREAK ABOVE 5600 WOULD MAKE ITS MOVE TO 5630 LEVELS. STAY CAUTIOUS ON EVERY UPSIDE AS THE UNDERTONE IS STILL NEGATIVE.
TODAY MARKETS WOULD BE VOLATILE AND RANGE BOUND, IF NIFTY TRADES BELOW 5530 MAY SLIDE DOWN TO 5504 LEVELS AND BREAK BELOW 5500 LEVELS WOULD TAKE NIFTY TO 5476 AND THEN TO 5453 LEVELS BUT ANY CLOSE BELOW 5450 WOULD TAKE NIFTY FURTHER DOWNSIDE IN THE COMING WEEK ON THE FLIP SIDE IF NIFTY TRADE ABOVE 5570 THEN LIKELY TO MAKE AN UPMOVE TO 5592 AND THEN BREAK ABOVE 5600 WOULD MAKE ITS MOVE TO 5630 LEVELS. STAY CAUTIOUS ON EVERY UPSIDE AS THE UNDERTONE IS STILL NEGATIVE.
