GOOD MORNING!!!
INDICES RECOVERED IN THE OPENING TRADE TAKING LEADS FROM THE OVERNIGHT UPSURGE IN THE US MARKETS WHICH GARNERED DECENT PROFITS ON REPORTS OF STABILIZING NUCLEAR CRISIS IN JAPAN ALONG WITH SOME ACQUISITION REPORT. THE INDICES GRADUALLY GAINED TRACTION AND CONQUERED THE CRUCIAL SUPPORT LEVELS OF 5,400 AND TRADED ABOVE THESE LEVELS FOR MOST PART OF THE DAY. PROFIT BOOKING WERE WITNESSED IN LATE TRADE WHEN THE FRONTLINE INDICES TOUCHED INTRA-DAY HIGHS WHICH DRAGGED THE BOURSES BELOW CRUCIAL SUPPORTS. HOWEVER, SOME SHORT COVERING IN DYING MINUTES HELPED THE INDICES TO SNAP THE THREE DAY LOSING STREAK WITH GAINS OF ALMOST A PERCENT. MARKETS BREADTH WAS POSITIVE, WITH SUGARS MOVING LARGELY ON GOVERNMENT BILL OF EXPORTING.
TODAY MARKETS WOULD OPEN FLAT TO POSITIVE AND REMAIN POSITIVELY BIASED UNTIL 5400 LEVELS ARE HELD. IF NIFTY TRADES BELOW 5400 THEN LIKELY TO COME DOWN TO 5377 AND BREACH BELOW THIS LEVEL WOULD DRAG TO 5360 LEVELS AND ANY BREAK BELOW THIS LEVEL WOULD WEAKEN NIFTY AND ONE IS ADVISED TO STAY AWAY FROM LONGS AT THIS STAGE AND CAN CARRY FORWARD SHORTS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5440 THEN LIKELY TO MAKE AN UPMOVE TO 5468 LEVELS AND THEN TO 5490 LEVELS. THE ONLY CONSTRAINT IN THE MARKETS NOW IS CRUDE SURGING HIGHER AND HIGHER DAY BY DAY WHICH IS GOING TO ADD ON HUGE PRESSURE ON INDIAN MARKETS. HOPEFULLY WARREN BUFFET WOULD ADD ESSENCE TO THE INDIAN MARKETS, ANOTHER DYNAMIC PERSONALITY OF THE WORLD MR BILL GATES WOULD JOIN HIM IN THE LAST LEGS OF HIS VISIT WHICH WOULD ADD FURTHER GROWTH TO THE INDIAN MARKETS. EXPECTING SOME POSITIVE VIBRATIONS TO ADD TO THE INDIAN MARKETS IN THE WEEK AHEAD.
TODAY MARKETS WOULD OPEN FLAT TO POSITIVE AND REMAIN POSITIVELY BIASED UNTIL 5400 LEVELS ARE HELD. IF NIFTY TRADES BELOW 5400 THEN LIKELY TO COME DOWN TO 5377 AND BREACH BELOW THIS LEVEL WOULD DRAG TO 5360 LEVELS AND ANY BREAK BELOW THIS LEVEL WOULD WEAKEN NIFTY AND ONE IS ADVISED TO STAY AWAY FROM LONGS AT THIS STAGE AND CAN CARRY FORWARD SHORTS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5440 THEN LIKELY TO MAKE AN UPMOVE TO 5468 LEVELS AND THEN TO 5490 LEVELS. THE ONLY CONSTRAINT IN THE MARKETS NOW IS CRUDE SURGING HIGHER AND HIGHER DAY BY DAY WHICH IS GOING TO ADD ON HUGE PRESSURE ON INDIAN MARKETS. HOPEFULLY WARREN BUFFET WOULD ADD ESSENCE TO THE INDIAN MARKETS, ANOTHER DYNAMIC PERSONALITY OF THE WORLD MR BILL GATES WOULD JOIN HIM IN THE LAST LEGS OF HIS VISIT WHICH WOULD ADD FURTHER GROWTH TO THE INDIAN MARKETS. EXPECTING SOME POSITIVE VIBRATIONS TO ADD TO THE INDIAN MARKETS IN THE WEEK AHEAD.
