GOOD MORNING!!!
MARKETS ARE BEING SLAUGHTERED, SESSION AFTER SESSION DUE TO FEEBLE CORPORATE EARNINGS ANNOUNCEMENT AND FRAGILE MACROECONOMIC BACKDROP. THE FRONTLINE INDICES PASSED THROUGH AN EXTREMELY UNSTABLE DAY THOUGH THEY MANAGED FEW BRIEF STINTS INTO POSITIVE TERRITORY ONLY TO SUCCUMB TO UNRELENTING PROFIT BOOKING BY INVESTORS. THOUGH THE FRONTLINE INDICES TRIED HARD TO KEEP THEIR HEAD ABOVE THE WATER IN THE MORNING SESSION BUT SELLING EMERGED ON EVERY ATTEMPT TO MOVE ABOVE THE NEUTRAL LINE AS CONTINUOUS DISAPPOINTING RESULT ANNOUNCEMENTS BY MAJOR COMPANIES HIT SENTIMENTS. INDICES SNAPPED THE FIRST DAY OF A NEW F&O SERIES ON A DISAPPOINTING NOTE AS JITTERY INVESTORS SEEMED HELPLESS AMID AN INCREASINGLY VULNERABLE DOMESTIC SETUP. ON ONE HAND SPIRALING INTERNATIONAL CRUDE OIL PRICES HAVE BECOME THE HEADACHE OF POLICYMAKERS WHILE ON THE OTHER WORRIES OVER GLOBAL ECONOMIC RECOVERY LOOM LARGE GIVEN THE FACT THAT WORLD’S BIGGEST ECONOMY CONTINUES TO GROW AT A TEPID PACE. MARKET PARTICIPANTS ALSO RESORTED TO BROAD BASED POSITION SQUARING IN RATE SENSITIVE COUNTERS LIKE REALTY AND BANKEX AS THEY FELT THAT RBI WILL NOW BE FORCED TO ADOPT MORE AGGRESSIVE STANCE IN ITS ANNUAL MONETARY POLICY REVIEW MEET ON MAY 3RD.
TODAY MARKETS WOULD OPEN FLAT AND RANGE BOUND AND WOULD BE UNDER TREMENDOUS PRESSURE AT EVERY INCLINE. IF NIFTY TRADES BELOW 5733 THEN WOULD DROP DOWN TO 5700 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 5668 AND THEN TO 5618 LEVELS AND ANY BREACH BELOW 5600 LEVELS WOULD TAKE NIFTY TO 5555 LEVELS. ON THE FLIP SIDE IF NIFTY TRADES ABOVE 5776 THEN WOULD TAKE NIFTY TO 5830 LEVELS AND BREAK ABOVE THIS POINT WOULD FURTHER TAKE NIFTY TO 5887 LEVELS. BE CAUTIOUS WHEN NIFTY IS ON THE UPSIDE AS EVERY POSSIBILITY THAT NIFTY MAY SLIDE DOWN IN TRADE SINCE WE HAVE MONETARY POLICY REVIEW TOMORROW. BANKING AND REALITY WOULD BE UNDER TREMENDOUS PRESSURE AND WE MAY SEE STOCK SPECIFIC MOVES IN THE MARKETS.
BUY ASIAN PAINTS SL 2768 TGT 2800/2822/2858
BUY TITAN INDS SL 3986 TGT 4100/4200/4300/4400
MARKETS ARE BEING SLAUGHTERED, SESSION AFTER SESSION DUE TO FEEBLE CORPORATE EARNINGS ANNOUNCEMENT AND FRAGILE MACROECONOMIC BACKDROP. THE FRONTLINE INDICES PASSED THROUGH AN EXTREMELY UNSTABLE DAY THOUGH THEY MANAGED FEW BRIEF STINTS INTO POSITIVE TERRITORY ONLY TO SUCCUMB TO UNRELENTING PROFIT BOOKING BY INVESTORS. THOUGH THE FRONTLINE INDICES TRIED HARD TO KEEP THEIR HEAD ABOVE THE WATER IN THE MORNING SESSION BUT SELLING EMERGED ON EVERY ATTEMPT TO MOVE ABOVE THE NEUTRAL LINE AS CONTINUOUS DISAPPOINTING RESULT ANNOUNCEMENTS BY MAJOR COMPANIES HIT SENTIMENTS. INDICES SNAPPED THE FIRST DAY OF A NEW F&O SERIES ON A DISAPPOINTING NOTE AS JITTERY INVESTORS SEEMED HELPLESS AMID AN INCREASINGLY VULNERABLE DOMESTIC SETUP. ON ONE HAND SPIRALING INTERNATIONAL CRUDE OIL PRICES HAVE BECOME THE HEADACHE OF POLICYMAKERS WHILE ON THE OTHER WORRIES OVER GLOBAL ECONOMIC RECOVERY LOOM LARGE GIVEN THE FACT THAT WORLD’S BIGGEST ECONOMY CONTINUES TO GROW AT A TEPID PACE. MARKET PARTICIPANTS ALSO RESORTED TO BROAD BASED POSITION SQUARING IN RATE SENSITIVE COUNTERS LIKE REALTY AND BANKEX AS THEY FELT THAT RBI WILL NOW BE FORCED TO ADOPT MORE AGGRESSIVE STANCE IN ITS ANNUAL MONETARY POLICY REVIEW MEET ON MAY 3RD.
TODAY MARKETS WOULD OPEN FLAT AND RANGE BOUND AND WOULD BE UNDER TREMENDOUS PRESSURE AT EVERY INCLINE. IF NIFTY TRADES BELOW 5733 THEN WOULD DROP DOWN TO 5700 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 5668 AND THEN TO 5618 LEVELS AND ANY BREACH BELOW 5600 LEVELS WOULD TAKE NIFTY TO 5555 LEVELS. ON THE FLIP SIDE IF NIFTY TRADES ABOVE 5776 THEN WOULD TAKE NIFTY TO 5830 LEVELS AND BREAK ABOVE THIS POINT WOULD FURTHER TAKE NIFTY TO 5887 LEVELS. BE CAUTIOUS WHEN NIFTY IS ON THE UPSIDE AS EVERY POSSIBILITY THAT NIFTY MAY SLIDE DOWN IN TRADE SINCE WE HAVE MONETARY POLICY REVIEW TOMORROW. BANKING AND REALITY WOULD BE UNDER TREMENDOUS PRESSURE AND WE MAY SEE STOCK SPECIFIC MOVES IN THE MARKETS.
BUY ASIAN PAINTS SL 2768 TGT 2800/2822/2858
BUY TITAN INDS SL 3986 TGT 4100/4200/4300/4400
