GOOD MORNING!!!
MARKETS GOT OFF TO A GAP DOWN START TRACKING OVERNIGHT US MARKETS WHILE THE WEAKER-THAN-FORECASTED JAPANESE GDP NUMBERS WEIGHED ON THE REGIONAL PEERS. MAJORITY OF THE STOCKS RECOVERED FROM EARLY MORNING'S LOSSES AFTER THE DATA RELEASED BY GOVERNMENT SHOWED THAT INDUSTRIAL PRODUCTION GREW BY 3.7 PER CENT IN JANUARY AS AGAINST AN UPWARDLY REVISED RATE OF 2.5% IN DECEMBER. HOWEVER, THE INDICES CRUMBLED DEEP IN TO THE RED AS PANIC SELLING TOOK CENTER STAGE AFTER NEWS OF A MAJOR EARTHQUAKE IN JAPAN AND FAILED TO REGAIN. MARKETS CONTINUED TO STAGGER UNDER THE TREMENDOUS GLOBAL PRESSURE AS ONE DISCOURAGING EVENT AFTER ANOTHER POPPED UP IN DAYS TRADE WHICH IS LEADING THE MARKETS TO A NEGATIVE TERRITORY EVEN AFTER A POSITIVE START OR FROM A RECOVERY PHASE. BREADTH OF THE MARKETS REMAINED WEAK FOR THE ENTIRE DAY AND CLOSED MUCH WEAKER AT THE END.
TODAY MARKETS WOULD REMAIN RANGE BOUND AND VOLATILE. IF NIFTY TRADES BELOW 5450 THEN LIKELY TO COME DOWN TO 5400 LEVELS AND BREACH BELOW THIS LEVEL WOULD TAKE NIFTY DOWN FURTHER TO 5370 LEVELS AND ANY CLOSE BELOW 5400 WOULD MAKE NIFTY MUCH WEAKER IN THE DAYS AHEAD. ON THE FLIP SIDE IF NIFTY TRADES ABOVE 5470 LEVELS THEN LIKELY TO INCLINE TO 5492 AND THEN TO 5518 ANY TRADE ABOVE 5518 WOULD TAKE NIFTY FURTHER UPSIDE.
BUY TATA COFFEE TGT 980/1050
BUY TATA GLOBAL SL 100.40 TGT 104.60/107/108.60
