GOOD MORNING!!!
INDICES GOT OFF TO A QUIET START AS INVESTORS REMAINED CAUTIOUS TRACKING ASIAN EQUITIES WHICH WITNESSED HEAVY BOUTS OF PROFIT BOOKING ON THE BACK OF THE MIXED CORPORATE EARNINGS ANNOUNCEMENTS ON OVERNIGHT WALL. THE INDICES SLIPPED DEEPER IN TO THE RED ZONE AFTER THE FLAT OPENING, AS ACROSS THE BOARD POSITION SQUARING GATHERED MOMENTUM IN THE MORNING TRADE. HOWEVER, AFTER HITTING INTRADAY LOW LEVELS IN THE EARLY AFTERNOON SESSION THE MARKETS STAGED A SMART RECOVERY AND EVEN WENT ON TO STEAL A LOOK INTO THE GREEN TERRITORY TRACKING POSITIVE TRIGGERS FROM EUROPEAN MARKETS AND BETTER THAN EXPECTED RESULTS FROM THE CEMENT MAJORS AND REBOUND IN TELECOM STOCKS RESULTED IN SENTIMENT TURNAROUND AS INVESTORS COVERED SHORT POSITIONS NOT ONLY IN ACC, ULTRATECH BHARTI AIRTEL AND RCOM BUT ALSO IN BANKING AND AUTO HEAVYWEIGHTS LIKE SBI, ICICI BANK, TATA MOTORS AND BAJAJ AUTO, BUT SLIGHT PROFIT BOOKING IN A FEW BLUE-CHIP STOCKS IN THE DYING MOMENTS LED THE BOURSES TO EVENTUALLY SNAP THE SESSION ON A FLAT NOTE WITH A NEGATIVE BIAS. MARKETS HAVE REGISTERED VERY STRONG VOLUMES ON THE SECOND DAY OF F&O EXPIRY WEEK BUT BREADTH OF THE MARKET STILL REMAINED NEGATIVE.
TODAY MARKETS WOULD OPEN POSITIVE AND RANGE BOUND. IF NIFTY TRADES ABOVE 5900 THEN LIKLEY TO MOVE UP TO 5940 AND BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 6000 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO MUCH HIGHER LEVELS. AS 6000 LEVELS BEING VERY CRUCIAL ONE CAN LOOK AT SHORTING NIFTY WHEN NIFTY IS JUST BELOW 6000 LEVELS WITH A STOPLOSS OF 6000. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5876 THEN LIKELY TO MAKE ITS JOURNEY DOWNWARDS TO 5833 AND THEN TO 5800 AND ANY BREAK BELOW THIS LEVEL WOULD TAKE NIFTY TO 5760 LEVELS. SINCE WE ARE IN THE LAST LEGS OF EXPIRY FOR THIS MONTH WE MAY SEE VERY VOLATILE AND CRAZY MOVEMENT IN THS MARKETS. STAY CAUTIOUS.
BUY APIL SL 621 TGT 640/650/670
BUY TRIVENI SL 107.75 TGT 110/112/114
BUY VIKASH METAL & POWER SL 17.60 TGT 18.70/19.30/20.50
BUY UFLEX SL 200 TGT 211/218/228*
BUY VENKYS (I) SL 719 TGT 750/770/800*
BUY JINDAL SAW SL 209 TGT 211.80/213.70/217*
