GOOD MORNING!!!
ON THURSDAY MARKETS GOT OFF TO A GAP UP OPENING AS IT CARRIED FORWARD THE ENTHUSIASM, AFTER THE SHARP RALLY OF PREVIOUS DAY AS INVESTORS’ MOOD REMAINED UPBEAT FOLLOWING THE RALLY IN ASIAN AND OVERNIGHT WALL STREET, SUPPORTED BY HEFTY GAINS IN TECHNOLOGY COUNTER AND REPORTS OF LARGER THAN PREDICTED RISE IN US EXISTING HOME SALES NUMBERS. AFTER THE FIRM OPENING, THE FRONTLINE INDICES CAPITALIZED ON THE INITIAL MOMENTUM AND WENT ON TO TEST THE RESISTANCE OF 5,900 LEVELS WHICH PROVED AS A STIFF RESISTANCE LEVELS FOR THE INDICES AS THEY ONCE AGAIN FALTERED AFTER INCHING CLOSER TO THOSE LEVELS AS THE MARKET GAVE UP SOME GAINS WITH A FEW BLUE-CHIP STOCKS RETREATING SLIGHTLY ON PROFIT TAKING. THEREAFTER INDICES OSCILLATED IN A NARROW RANGE THROUGH THE SECOND HALF OF TRADE AND ENDED ON A POSITIVE NOTE OF AROUND HALF A PERCENT GAINS IN THE INDICES, EVEN THOUGH MARKET BREADTH OF SLIGHTLY NEGATIVE MANAGED TO CLOSE POSITIVE.
TODAY MARKETS WOULD BE RANGE BOUND AND CONTINUE TO BE UNDER PRESSURE, WE CAN WITNESS SOME SELLING TO COME IN ANY TIME DURING THE MARKETS ON EVERY UPSIDE. IF NIFTY TRADES ABOVE 5930 ONE CAN GO LONG AND CONTINUE TO HOLD AS NIFTY LIKELY TO INCH HIGHER, IF NIFTY TRADES ABOVE 5930 THEN WE CAN SEE NIFTY TO MOVE UP TO 5958 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5975 AND THEN TO 6000 LEVELS WOULD ACT AS A TOUGH RESISTANCE, BUT ANY BREAK ANY DAY ABOVE 6000 LEVELS WOULD TAKE NIFTY TO 6400 LEVELS IMMEDIATELY IN A VERY SHORT SPAN OF TIME. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5885 ONE CAN SEE NIFTY TO 5850 AND THEN TO 5828 LEVELS , IF NIFTY TRADES BELOW 5828 THEN WE CAN SEE 5806 TO 5800 BUT IF NIFTY BREAKS THIS LEVELS THEN LIKELY TO COME DOWN TO 5870 LEVELS, BREAK BELOW 5870 LEVELS WE CAN SEE FURTHER WEAKNESS IN NIFTY.
TODAY MARKETS WOULD BE RANGE BOUND AND CONTINUE TO BE UNDER PRESSURE, WE CAN WITNESS SOME SELLING TO COME IN ANY TIME DURING THE MARKETS ON EVERY UPSIDE. IF NIFTY TRADES ABOVE 5930 ONE CAN GO LONG AND CONTINUE TO HOLD AS NIFTY LIKELY TO INCH HIGHER, IF NIFTY TRADES ABOVE 5930 THEN WE CAN SEE NIFTY TO MOVE UP TO 5958 LEVELS AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5975 AND THEN TO 6000 LEVELS WOULD ACT AS A TOUGH RESISTANCE, BUT ANY BREAK ANY DAY ABOVE 6000 LEVELS WOULD TAKE NIFTY TO 6400 LEVELS IMMEDIATELY IN A VERY SHORT SPAN OF TIME. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5885 ONE CAN SEE NIFTY TO 5850 AND THEN TO 5828 LEVELS , IF NIFTY TRADES BELOW 5828 THEN WE CAN SEE 5806 TO 5800 BUT IF NIFTY BREAKS THIS LEVELS THEN LIKELY TO COME DOWN TO 5870 LEVELS, BREAK BELOW 5870 LEVELS WE CAN SEE FURTHER WEAKNESS IN NIFTY.
BUY STERLITE INDS SL 178 TGT 180.40/181.40/183
BUY SESAGOA SL 321 TGT 326/330/335
BUY GESHIPPING SL 289 TGT 292.70/295/297.80
BUY RAIN COMMODITIES SL 169 TGT 175/180/184
BUY VST INDS SL 880 TGT 927/959/1000
BUY MRF SL 7396 TGT 7670/7848/8000
NOTE: BUY THE ABOVE RECOMMENDATIONS ONLY IF THEY OPEN POSITIVE
