GOOD MORNING!!!
INDICES GOT OFF TO A SOFT START TRACKING SUBDUED LEADS FROM ACROSS ASIA WHERE INVESTORS REMAINED ON THE SIDELINES DUE TO THE WEAKNESS IN OVERNIGHT US MARKETS WHICH WITHERED DESPITE SOME GOOD ECONOMIC REPORTS AS TRADERS REMAINED APPREHENSIVE OVER JAPAN'S NUCLEAR CRISIS AND VIOLENCE IN THE MIDDLE EAST AND NORTH AFRICA. THEREAFTER, THE INDICES GRADUALLY KEPT GATHERING MOMENTUM THROUGH THE DAY’S TRADE AS INVESTORS CONTINUED TO AGGRESSIVELY PILE UP POSITIONS IN BEATEN DOWN BLUE CHIP STOCKS. INVESTORS’ EXHILARATION IS SHOWING NO SIGNS OF WANING ANY TIME SOON IN THE INDIAN STOCK MARKETS AND THE FRONTLINE STOCKS HIT THE INTRADAY HIGH LEVELS IN THE LATE HOURS OF SECOND HALF HOWEVER THE BENCHMARKS CAME OFF THE DAY’S HIGH LEVEL IN DYING HOURS OF TRADE AS INVESTORS BOOKED PARTIAL PROFITS TWO DAYS AHEAD OF THE MARCH F&O SERIES EXPIRY. EVENTUALLY THE BOURSES SNAPPED SIXTH STRAIGHT SESSION IN THE POSITIVE TERRAIN AND SAILED WELL BEYOND PSYCHOLOGICAL LEVEL OF 5700. THOUGH THE TURNOVER WAS GOOD THE VOLUMES WERE EQUALLY GREAT ACROSS THE BOARD BUT THE BREADTH OF THE MARKETS REMAINED NEGATIVE.
TODAY MARKETS WOULD OPEN POSITIVE TRACKING STRONG OVERNIGHT CLOSING IN US MARKETS AND POSITIVE OPENING IN THE ASIAN INDICES, ONE SHOULD TRY TO AVOID BUYING FOR TODAY AND TOMORROW AND CAN START AFRESH AS THE CONTRACT IS GOING TO EXPIRE TOMORROW WE MAY SEE GOOD AMOUNT OF VOLATILITY IN THE MARKETS. WE MAY SEE GREAT AMOUNT OF VOLATILITY IN THE MARKETS AHEAD OF EXPIRY. THERE IS EVERY CHANCE OF MARKETS TO BEHAVE VERY ERRATIC STAY CAUTIOUS. TODAY IF NIFTY TRADES ABOVE 5775 THEN LIKELY TO MOVE UP TO 5800 AND ANY CLOSE ABOVE 5800 WOULD TAKE NIFTY TO 5820 THERE IS EVERY POSSIBILITY TO MOVE IN A NARROW RANGE IN THE DAY. ON THE DOWNSIDE IF NIFTY TRADES BELOW 5740 THEN LIKELY TO COME DOWN TO 5714 AND THEN TO 5686 LEVELS. IF NIFTY TRADES BELOW 5686 THEN LIKELY TO COME DOWN TO 5650 LEVELS. ANY CLOSE BELOW 5650 LEVELS WOULD DRAG NIFTY FURTHER DOWN.
