GOOD MORNING!!!
INDICES GOT OFF TO GOOD START AS SENTIMENTS REMAINED SANGUINE, THANKS TO ENCOURAGING LEADS FROM THE ASIAN AND OVERNIGHT US MARKETS WHICH REBOUNDED ON THE BACK OF BETTER THAN EXPECTED EARNINGS ANNOUNCEMENTS BY BLUE-CHIP STOCKS ALONG WITH SOME GOOD US HOME CONSTRUCTION REPORT. THE FRONTLINE INDICES, AFTER THE STRONG OPENING, GYRATED IN A TIGHT RANGE THROUGH THE FIRST HALF OF TRADE. BUT THE INDICES SLIPPED TO THE LOW POINT OF THE DAY AFTER REPORTS OF TRIAL COURT REJECTING BAIL TO 5 ACCUSED IN 2G CASE HIT HEADLINES. HOWEVER, AFTER SOME JITTERS, THE BENCHMARKS STABILIZED AND JUMPED BACK WITH GREATER CONVICTION. THOUGH MARKETS JUMPED UP BY 2% THE BREADTH OF THE MARKET REMAINED WEAK
TODAY MARKETS WOULD OPEN POSITIVE AND MAY WOULD REMAIN ON THE POSITIVE SIDE ONLY IF RELIANCE AND TATA MOTORS COME OUT WITH A DECENT SET OF NUMBERS ELSE MARKETS WOULD COME DOWN. STAY CAUTIOUS AT HIGHER LEVELS AROUND 5900 LEVELS. IF NIFTY TRADES ABOVE 5875 THEN LIKELY TO MOVE UP TO 5901 AND THEN TO 5933 LEVELS, AND ANY BREAK ABOVE 5933 MAY HAVE A SLIGHT RESISTANCE AROUND 5950 BUT ONCE THIS IS BREACHED WE MAY HEAD TO 6000 LEVELS. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5864 LEVELS THEN LIKELY TO MAKE ITS WAY DOWN TO 5827 AND THEN TO 5774 LEVELS AND ANY TRADE BELOW THIS LEVEL WOULD DRAG NIFTY TO 5705 LEVELS. BE CAUTIOUS IN THE MARKETS AS CRUDE IS INCHING HIGHER.
TODAY MARKETS WOULD OPEN POSITIVE AND MAY WOULD REMAIN ON THE POSITIVE SIDE ONLY IF RELIANCE AND TATA MOTORS COME OUT WITH A DECENT SET OF NUMBERS ELSE MARKETS WOULD COME DOWN. STAY CAUTIOUS AT HIGHER LEVELS AROUND 5900 LEVELS. IF NIFTY TRADES ABOVE 5875 THEN LIKELY TO MOVE UP TO 5901 AND THEN TO 5933 LEVELS, AND ANY BREAK ABOVE 5933 MAY HAVE A SLIGHT RESISTANCE AROUND 5950 BUT ONCE THIS IS BREACHED WE MAY HEAD TO 6000 LEVELS. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5864 LEVELS THEN LIKELY TO MAKE ITS WAY DOWN TO 5827 AND THEN TO 5774 LEVELS AND ANY TRADE BELOW THIS LEVEL WOULD DRAG NIFTY TO 5705 LEVELS. BE CAUTIOUS IN THE MARKETS AS CRUDE IS INCHING HIGHER.
BUY TRIVENI ENGG SL 104 TGT 107.75/109.50/111.20
BUY HCL TECH SL 520 TGT 531/536/546
BUY APIL SL 605 TGT 620/633/639
BUY SUBEX SL 79.40 TGT 83/85/89
POSITIONAL TRADES
BUY IBREAL TGT 185
