GOOD MORNING!!!
THE MARKETS GOT OFF TO A SUPPLE START AS FRESH WORRIES OVER HIGH LEVELS OF RADIATION IN JAPAN EMERGED WHICH DELAYED EFFORTS TO STABILIZE A CRIPPLED NUCLEAR POWER PLANT AND INFERIOR THEN EXPECTED EARNINGS REPORTED BY SOME BLUE CHIPS COMPANIES WEIGHED ON CAUTIOUS INVESTOR MOOD. AFTER HITTING INTRADAY LOWS AND WITH THE EMERGENCE OF BUYING INTEREST IN BLUE CHIPS AND FERTILIZER STOCKS MARKETS YET AGAIN ROSE TO FRESH INTRADAY HIGHS. HOWEVER, THE SESSION LARGELY REMAINED CHARACTERIZED BY CHOPPINESS AS INVESTORS SEEMED RELUCTANT TO PILE UP HEFTY POSITIONS AFTER THE RECENT OVER FIVE PERCENT RALLY.
TODAY MARKETS WOULD OPEN FLAT TO NEGATIVE AS MARKETS ARE ALMOST REACHED A POINT WHERE IT IS DIFFICULT TO MOVE FROM HERE ON WITHOUT GREAT VOLUMES AND 5740 BEING ONE OF THE TOUGHEST RESISTANCE OF ALMOST MANY MONTHS MAY BE WE MAY FACE THAT AS TOUGH RESISTANCE FOR TIME BEING TILL THE VOLUMES SUPERSEDE. IF NIFTY TRADES ABOVE 5740 ONLY THEN ONE IS ADVISED TO GO LONG ON THE CLOSING BASIS AND IT IS WISE TO AVOID GOING LONG AS WE ARE AT THE VERGE OF CLOSING THE CURRENT MONTH CONTRACT IN ANOTHER COUPLE OF DAYS, ONE CAN KNOW THE CORRECT TREND ONCE THE CONTRACT OF THE CURRENT MONTH CLOSES. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5684 THEN LIKELY TO COME DOWN TO 5665 AND THEN BREACH BELOW THIS POINT WOULD TAKE NIFTY TO 5640 LEVELS AND ANY BREACH BELOW THIS POINT WOULD DRAG NIFTY TO 5609 LEVELS. STAY CAUTIOUS FOR THESE THREE DAYS AS THE VOLATILITY WOULD DRIVE THE MARKETS CRAZY.
BUY CHENNAI PETRO SL 216 TGT 223/227/232 BUY IDFC SL 158 TGT 161/162.7/164.30
