INTRADAY TIPS FOR 15 FEBRUARY 2011

GOOD MORNING!!!

CUPID STRUCK TO THE STOCK MARKETS ALL OVER THE WORLD AND INDICES CONTINUED ITS PULLBACK RALLY, INITIALLY STARTED WITH GAP-UP TRACKING THE STRONG ASIAN MARKETS, WHICH WERE IN RALLY MOOD SINCE BEGINNING AND CLOSED IN GREEN NOT ONLY THE ASIAN BUT ALSO THE ENTIRE WORLD EQUITY INDICES SURGED ON HOPES THAT GLOBAL ECONOMIC RECOVERY WILL STRENGTHEN AS OIL PRICES RETREATED AFTER THE POLITICAL TENSIONS SUBSIDE WITH THE RESIGNATION OF EGYPTIAN PRESIDENT HOSNI MUBARAK. WITH THE CHINESE SHANGHAI COMPOSITE SHOOTING UP WITH THE NEWS THAT CHINA’S $5.88 TRILLION GDP SURPASSED JAPAN’S $5.47 TRILLION IN 2010, THEY WENT CRAZY AND CLOSED OVER 2.5% WHICH HAS IGNITED AND INFLUENCED MAJORITY OF THE ASIAN INDICES NOT ONLY THE EXTERNAL NEWS BUT ALSO THE INTERNAL NEWS OF THE IMPRESSIVE RESULTS, ESPECIALLY FROM TATA MOTORS AND MAHINDRA SATYAM, TOO CONTRIBUTED TO THE BUOYANT MOOD OF THE MARKETS IN THE MID MORNING SESSION. INDICIES GAINED FROM STRENGTH TO STRENGTH AND RE-CONQUERED CRUCIAL LEVELS TO EVENTUALLY SETTLE AROUND THE HIGH POINT OF THE DAY. THE MARKET BREADTH OF THE MARKET WAS EXTREMELY OPTIMISTIC AND CLOSED ABOVE THE PSYCHOLOGICAL LEVELS.

TODAY MARKETS WOULD BE FLAT AND RANGE BOUND, IF NIFTY TRADES ABOVE 5460 THEN LIKELY TO MAKE AN UPMOVE TO 5498 LEVELS AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO 5547 LEVELS ONE IS ADVISED TO STAY CAUTIOUS AFTER NIFTY REACHES 5547 AND AVOID POSITIONALLY AFTER NIFTY REACHES 5547 AS MARKETS LIEKLY TO SEE SOME DOWNSIDE ANYWHERE AFTER REACHING 5547 AND WOULD TAKE A U-TURN FROM THERE ON, ONE IS ADVISED TO STAY VERY CAUTIOUS IN THE MARKETS AFTER IT ATTAINS 5547 LEVELS. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5440 THEN LIKELY TO COME DOWN TO 5408 LEVELS AND ANY BREAK BELOW 5400 LEVEL WOULD TAKE NIFTY TO 5366 LEVELS ONE IS ADVISED TO BE ON THE POSITIVE SIDE FOR ANOTHER 90 POINTS IN NIFTY THERE AFTER WE MAY HEAD TOWARDS SOUTH AND BREACH PREVIOUS LOWS TOO.

INTRADAY TIPS FOR 14 FEBRUARY 2011

GOOD MORNING!!!

INDICES COMMENCED ON A CAUTIOUS NOTE TRACKING THE MIXED CUES FROM THE ASIAN MARKETS AND INVESTORS ALSO REMAINED APPREHENSIVE OWING TO THE RENEWED UNCERTAINTIES IN EGYPT AFTER PRESIDENT HOSNI MUBARAK SAID HE WOULD TRANSFER THE REINS OF POWER TO HIS VICE PRESIDENT, BUT WOULD NOT STEP DOWN BEFORE ELECTIONS IN SEPTEMBER. SENTIMENTS STAYED WEAK THROUGH THE LATE MORNING AND EARLY AFTERNOON SESSION AS THE WEAKER THAN EXPECTED DECEMBER IIP DATA WEIGHED. HOWEVER, THERE APPEARED SOME RESURGENCE IN THE MARKETS AFTER PLANNING COMMISSION DEPUTY CHAIRMAN, MONTEK SINGH OPINED THAT VOLATILE IIP IS NOT A FITTING INDICATOR OF OVERALL GDP AND ALSO AFFIRMED THAT THE ECONOMIC GROWTH IS ON TRACK AND WILL SURELY ACHIEVE THE FORECASTED TARGET OF 8.5% GROWTH FOR THE FISCAL YEAR 2011. INDICES SLOWLY AND STEADILY SURGED THEREAFTER AS BANKING AND FINANCIAL STOCKS SOARED. THE MARKETS EVENTUALLY SETTLED AROUND THE HIGH POINT OF THE DAY AND WENT HOME WITH STRONG GAINS. THE MARKET BREADTH WAS POSITIVE AS THERE WAS HEFTY BOTTOM FISHING IN THE SECOND HALF OF TRADE UNDERPINNED THE INDICES. GOOD BUYING INTERESTS WERE WITNESSED IN MAJORITY OF BEATEN DOWN HEAVYWEIGHTS STOCKS.

TODAY MARKETS WILL HAVE A POSITIVE MOMENTUM OF FRIDAY AND CONTINUE TO RALLY FURTHER ON BARGAIN HUNTING. MAJORITY OF THE SHARES WOULD TURN ON A POSITIVE NOTE IF MARKETS CLOSE ON A POSITIVE NOTE. IF NIFTY TRADES ABOVE 5330 THEN LIKELY TO MOVE UP TO 5364 AND BREAK ABOVE THIS POINT WOULD TAKE IT FURTHER TO 5400 AND ANY TRADE ABOVE 5400 WOULD TAKE NIFTY 5500 LEVEL IN A VERY SHORT WHILE, ANY CLOSE ABOVE 5350 WOULD TAKE NIFTY TO 5500 LEVELS IN THE VERY NEAR TERM. ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5300 LEVELS WE CAN SEE IT TO SLIDE DOWN TO 5266 AND THEN TO 5230 LEVELS AND ANY CLOSE BELOW 5300 WOULD AGAIN BE CONSIDERED AS NEGATIVE AND ONE CAN TAKE A SHORT POSITION POSITIONALLY AS WELL AND ANY CLOSE ABOVE 5350 ONE CAN TAKE A LONG POSITION ON POSITIONAL BASIS.

BUY HDFC SL 618 TGT 630/636/643
BUY CMAHENDRA SL 177 TGT 183/188/194

INTRADAY TIPS FOR 11 FEBRUARY 2011

GOOD MORNING!!!

INDICES COMMENCED THE DAY ON A POSITIVE NOTE SHRUGGING WEAK CUES FROM THE ASIAN MARKETS WHICH MOSTLY TRADED IN THE RED ZONE IN THE MORNING. HOWEVER THE BOURSES ONCE AGAIN FAILED TO CAPITALIZE ON THE INITIAL IMPETUS AND DRIFTED INTO THE RED. THE BENCHMARKS MADE A DESPERATE ATTEMPT TO CLIMB BACK INTO THE GREEN IN LATE MORNING SESSION BUT REMAINED UNSUCCESSFUL AS SELLING GATHERED GREATER FORCE. EVEN AFTER FOOD INFLATION IN THE COUNTRY EASED SHARPLY IN THE WEEK-ENDED JANUARY 29, FINALLY GIVING SOME SLIM HOPES THAT A BUMPER KHARIF HARVEST AND STRONG OUTLOOK FOR THE RABI CROP AS WELL AS TIGHTENING BY THE MONETARY AUTHORITY WILL HELP BRING DOWN THE SURGING PACE OF RISING PRICES IN THE COUNTRY THIS COULDN’T REALLY HELP MARKETS TO ELEVATE THOUGH THE MARKETS HAVE TRIED MANY A TIMES TO REGAIN THE MOMENTUM BACK BUT THE FRONTLINE INDICES EVENTUALLY WENT HOME WITH MODERATE CUTS WHICH WAS FAR MORE ACCEPTABLE THAN THE RECENT NASTY LACERATIONS. WE HAVE SEEN HIGH VOLATALITY IN THE MARKETS THOUGH THE VOLUMES WERE COMPARITIVELY LOWER THAN PREVIOUS DAYS VOLUMES. THE MARKET BREADTH WAS NEGATIVE

TODAY MARKETS LOOK FLAT TO POSITIVE AND MARKETS LIKELY TO CONSOLIDATE AT THE CURRENT LEVELS IF AND ONLY IF IT SUSTAINS 5200 LEVELS ON THE FUTURES. CONSIDERING BROAD PICTURE OF THE MAREKTS AND CONSIDERING THE HEAVY VOLATALITY ONE IS ADVISED TO STAY LONG AT THE CURRENT LEVELS AS LONG AS NIFTY IS ABOVE 5190 LEVELS AND IF NIFTY CLOSES BELOW 5190 LEVELS THEN WE CAN SEE NIFTY TO COME DOWN MUCH MORE THAN WHAT IS ANTICIPATED IN THE MAREKTS.
AND IF ONE IS LOOKING ONLY ON AN INTRADAY FRONT WHO DOESN’T HAVE THE ABILITY TO BOOK LITTLE BIG LOSS THEN ONE IS ADVISED TO TRADE ON THE FOLLOWING LINES, IF NIFTY TRADES ABOVE 5235 THEN LIKELY TO MAKE AN UPMOVE TO 5254 LEVELS AND THEN TO 5280 AND BREAK ABOVE THIS LEVEL WOULD SEE NIFTY TO 5300 LEVELS . ON THE NEGATIVE SIDE IF NIFTY TRADES BELOW 5210 WE CAN SEE NIFTY TO SLIDE DOWN TO 5190 LEVELS AND THEN TO 5160 LEVELS ANY CLOSE BELOW 5190 WE CAN SEE NIFTY TO SLIDE DOWN MUCH MORE IN THE DAYS TO COME.

INTRADAY TIPS FOR 10 FEBRUARY 2011

GOOD MORNING!!!

DALAL STREET WAS MORE OF A HALAL STREET IN THE TRADE WHERE NO TRADER HAS ANY CLUE OF WHAT IS HAPPENING MARKETS STOCKS WERE BATTERED TO DEATH ADAG STOCKS WERE THE BIGGEST CULPRITS ON TRADE. BEARS WERE COMPLETELY ON TOP OF THE WORLD FOR THE LAST FEW SESSIONS WHO MADE A GRAND PARTY ON THE LAST DAY. MARKETS BEGAN THE DAY ON A QUIET NOTE TRACKING WEAK ASIAN COUNTERPARTS WHICH OVERLOOKED THE OVERNIGHT STRENGTH ON THE WALL STREET THAT EXTENDED ITS WINNING STREAK FOR THE SEVENTH STRAIGHT DAY AS STRONG EARNINGS REPORT UNDERPINNED SENTIMENTS. HOWEVER AFTER THE NEGATIVE OPENING, MARKETS CLIMBED INTO THE GREEN DURING MORNING TRADES AS BUYING GATHERED SOME MOMENTUM WHICH SHORT LIVED THOUGH FRONTLINE INDICES GYRATED AROUND THE NEUTRAL LINE FOR MOST PART OF THE DAY BUT THE LATE SELL-OFF IN THE ADAG PACK SPOOKED SENTIMENTS WHICH LED TO INTENSE POSITION SQUARING. SELL OFF IN THE INDICES STARTED SOON AFTER ANIL AMBANI REPORTEDLY MET TELECOM MINISTER KAPIL SIBAL IN BACKDROP OF LINGERING 2G INVESTIGATION AND REPORTS THAT ICAI HAS ASKED RELIANCE INFRA ABOUT SOME AUDIT MALPRACTICES ALSO LED TO HEAVY DECLINE IN THE STOCK PRICES OF THE COMPANIES OF ADAG GROUP. OTHER DRAGGER IN THE MARKETS IS THE NEWS THAT TRAI THE INDIAN TELECOM REGULATOR HAS RECOMMENDED A SHARP HIKE OF PAN INDIA LICENSE WITH 6.2 MHZ SPECTRUM, A PROPOSAL THAT WEIGHED ON ALL THE TELECOM SHARES ALONG WITH THE FEARS THAT THE RBI MAY GO FOR FURTHER TIGHTENING TO TAME INFLATION REMAINED ANOTHER REASON BEHIND THE ONSLAUGHT ACROSS THE BOARD IN THE LOCAL MARKETS. THE BREADTH OF THE MARKET WAS DREADFULLY NEGATIVE. WITH THE TREMENDOUS SELLING PRESSURE MIDCAP AND SMALLCAP INDICES FELL SHARPLY BY 3.64% AND 4.30% RESPECTIVELY. THE POWER COUNTER SHAVED OF 4.23% WITH MAJORS LIKE RELIANCE INFRA SINKING 18.79% FOLLOWED BY LANCO INFRA THAT PLUNGED 14.42%. THE METALS PACK TOO WITNESSED RUTHLESS POSITION SQUARING AS IT PLUMMETED 3.87% AS MAJOR LIKE HINDALCO AND SESA GOA SHRINKING 6.17% AND 6.46% RESPECTIVELY. INFRASTRUCTURE MAJOR JAIPRAKASH ASSOCIATES WILTED OVER 10% IN THE DAY’S TRADE BEING THE THIRD TOP LOSER AFTER R INFRA AND R COM WHICH SHAVED OFF 18.79% AND 14.32% RESPECTIVELY. WHILE THERE WERE ONLY A HANDFUL OF STOCKS ON THE GAINERS CHART INCLUDING HEAVYWEIGHT LIKE M&M, HDFC AND DLF.

TODAY MARKETS WOULD OPEN WEAK ON WEAK GLOBAL CUES AND AND WEAK ASIAN COUNTER PARTS. WITH THE MIXED TREND IN US STOCKS AND ASIAN STOCKS WE MAY CONTINUE TO FEEL THE PRESSURE OF WEAKNESS IN THE MARKETS TODAY IF NIFTY TRADES BELOW 5250 THEN LIKELY TO COME DOWN TO 5222 AND BREAK BELOW THIS LEVELS WOULD TAKE NIFTY DOWN TO 5186 LEVELS AND THEN TO 5150 LEVELS AS LONG AS NIFTY HOLDS 5200 LEVELS WE MAY EXPECT SOME BOUNCE BACK IN THE MARKETS BUT ONCE IT BREACHES THIS LEVEL THERE IS EVERY POSSIBILITY THAT WE MAY HEAD DOWN FURTHER. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5270 LEVELS THEN LIKELY TO MOVE UP TO 5300 LEVELS AND BREAK ABOVE THIS WOULD TAKE NIFTY TO 5345 LEVELS. IF NIFTY TRADES ABOVE YESTERDAYS LOW FOR ANOTHER COUPLE OF DAYS WE MAY SEE A BOUNCE BACK TO 5450 LEVELS AND THEN TO 5550 LEVELS. ON A BROAD SENSE AS LONG AS NIFTY TRADES BELOW 5400 LEVELS ONE IS ADVISED TO BE SHORT IN THE MARKETS.

SCAMS AND RUMOURS HAVE BECOME THE KEY PLAYERS IN THE MARKETS.

INTRADAY TIPS FOR 09 FEBRUARY 2011

GOOD MORNING!!!

IT WAS A BRUTAL ASSAULT FOR THE MARKETS DAY BY DAY IT SEEMS AS IF MARKETS ARE BEING GANG RAPED BY FII’S, DII’S, POLITICIANS, RBI, RETAILERS, INFLATION, AND WHAT NOT CORNERING EACH AND EVERY INVESTORS FOR THE INVESTMENTS THEY MADE. TILL DECEMBER END MAJORITY OF THE FIIS WERE ON LEAVE FOR THE VACATION NOW EVERY PROMOTERS AND INVESTORS ARE MADE TO MOVE ON A VACATION TO FORGET THIS NIGHTMARE FOR THE INVESTMENT THEY MADE. MARKETS AS USUAL FOLLOWED THE TREND OF THE LAST FEW DAYS STARTING ON A FLAT NOTE ON THE BACK OF STRONG CUES FROM THE OVERNIGHT US MARKETS WHICH GOT A LIFT FROM GOOD EARNINGS REPORT AND SOME MERGER ANNOUNCEMENTS. HOWEVER THE INDICES PLUNGED INTO THE RED AFTER TRADING IN THE POSITIVE TERRAIN FOR A VERY BRIEF PERIOD IN THE EARLY TRADE AS SELLING PRESSURE GATHERED GREATER MOMENTUM MARKETS FAILED TO SHOW ANY KIND OF RESILIENCE THEREAFTER AND PAVED WAY FOR ITS JOURNEY TOWARDS SOUTH. WE HAVE WITNESSED HEAVY UNWINDING OF OPEN LONGS IN THE MOST PART OF THE DAY AFTER FIIS CONTINUED TO BOOK PROFIT ACROSS THE TABLE DRAGGING THE MARKETS TO LOWER LOWS, WITH PRESSURE FROM RETAILERS MARKETS AND FIIS MARKETS COMPLETELY LOST ITS GROUND BREACHING THE CRUCIAL SUPPORT LEVELS AND HAS COME TO THE LEVELS OF JULY 2010 FOR THE FIRST TIME. THE MARKET BREADTH WAS DREADFULLY NEGATIVE WITH CONSUMER DURABLES, REAL ESTATE, AUTO AND BANKS PLUNGED TO THE MAXIMUM POSSIBLE LEVELS.

WITH CHINESE CENTRAL BANK HIKING THE INTEREST RATES WE MAY SEE CHINESE MARKETS TO PLUNGE DOWN IN THE OPENING AND MAY HAVE EQUAL PRESSURE ON ALL THE ASIAN COUNTER PARTS AND WITH THE CONTINUING SELLING PRESSURE THESE WOULD ADD FUEL TO THE FIRE IN THE INDIAN MARKETS WE MAY WITNESS SOME MORE SELLING PRESSURE TO CROP-IN IN THE MARKETS. TODAY IF NIFTY TRADES BELOW 5300 WE MAY DIRECTLY HEAD DOWN TOWARDS 5200 LEVELS THERE IS NO DOUBT IN THAT, THAT WE MAY HAVE ANY PAUSE IN THE MARKETS BUT IF NIFTY DOESN’T HOLD 5200 LEVELS WE MAY SEE SOME SELLING TO CROP IN THEREBY TAKING NIFTY TO BELOW 5000 LEVELS. THOUGH WE MAY HAVE SOME PAUSE ON THE PSYCHOLOGICAL FRONT AFTER BREACHING 5300 ON THE BROADER FRONT WE MAY SEE NIFTY TO 5200 LEVELS. IF NIFTY BREAKS AND TRADES BELOW 5300 THEN WE WOULD SEE NIFTY AT 5260 LEVELS AND THEN TO 5220 LEVELS AND BREAK BELOW THAT WE MAY SEE NIFTY AT 5200 LEVELS AND ANY CLOSE BELOW THIS WOULD WITNESS SHORT BUILDUP AND POSITION SQUARE OFF IN THE MARKETS. ON THE FLIP SIDE IF NIFTY TRADES ABOVE 5340 LEVELS WE MAY SEE IT TO GO UP TO 5360 LEVELS AND BREAK ABOVE THAT WE HAVE POSSIBILITY TO SEE NIFTY AT 5390 LEVELS AND AS LONG AS NIFTY CLOSES ABOVE 5500 LEVELS ONE CAN STAY ON THE SHORT.

INTRADAY TIPS FOR 08 FEBRUARY 2011

GOOD MORNING!!!

INDICES MADE A VERY CAUTIOUS MOVE ON THE START OF THE MARKETS DESPITE POSITIVE CLOSE OF US MARKETS OVERNIGHT, AS INVESTORS PREFERRED STAYING ON THE SIDELINES AS THEY LACKED CONVICTION FOR THE STRENGTH OF THE MARKET AFTER THE MASSIVE LOSS ON FRIDAY ON WORRIES OVER SURGING INFLATION AND INTEREST RATES IN THE COUNTRY. HIGHER THAN ESTIMATES OF GDP NUMBERS DID GIVE SOME RELIEF FOR A VERY BRIEF PERIOD COULDN’T MANAGE TO HOLD TILL THE END, JUST AFTER NIFTY INCLINED BY 40 ODD POINTS FELL SUDDENLY ON A PROFIT BOOKING NOTE WITH HUGE VOLUMES IN JUST FIVE MINUTES OF TIME TO BRING THE MARKETS TO THE NEGATIVE ZONE AND BOUNCED BACK FROM LOWS OF THE DAY TO CONSOLIDATE THE INDICES AND CLOSED THE MARKETS ON A FLAT NOTE. THOUGH THE MARKETS ENDED THE SESSION IN THE GREEN TERRITORY SUPPORTED BY GAINS IN THE FMCG, REALTY, OIL & GAS AND SELECT METAL COMPANIES, BUT THE TRADE REMAINED LACKLUSTER AFTER THE HUGE SELL OFF WITNESSED IN THE MARKETS ON FRIDAY AND THERE IS HARDLY ANY CONVICTION SEEN AMONG THE INVESTORS AT THESE LEVELS.

TODAY MARKETS WOULD OPEN FLAT AND RANGE BOUND THOUGH GLOBAL CUES ARE POSITIVE MAY NOT MAKE AN IMPACT TO THE INDIAN MARKETS AS THE SENTIMENT STILL REMAINS WEAK THERE IS HARDLY ANY CONVICTION SEEN IN THE MARKETS BY INVESTORS. WE MAY SEE ANOTHER LEG OF SELL OFF BEFORE OR AFTER A RETRACEMENT IN THE MARKET. IF NIFTY TRADES BELOW 5380 THEN LIKELY TO COME DOWN TO 5360 AND THEN TO 5320 LEVELS AND ANY BREAK BELOW THIS POINT WOULD TAKE NIFTY TO 5300 AND THEN TO 5200 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5450 THEN LIKELY TO MOVE UP TO 5500 AND THEN TO 5540 LEVELS ANY CLOSE ABOVE 5540 IS A SIGN OF POSITIVE WAVE TILL THEN WE MAY TAKE EVERY OPPORTUNITY FOR INITIATING FRESH SHORTS.

INTRADAY TIPS FOR 07 FEBRUARY 2011

GOOD MORNING!!!

MARKETS GOT ON TO A CAUTIOUS NOTE DESPITE POSITIVE CUES FROM THE OVERNIGHT US MARKETS WHICH REMAINED OPTIMISTIC AS THE BENCHMARKS THERE SURGED IN LATE HOURS AFTER GETTING GOOD JOBS DATA. HOWEVER THE INDICES MANAGED TO BREAK INTO THE GREEN FOR A BRIEF PERIOD IN THE MID-MORNING SESSION BUT THAT TURNED OUT TO BE A SUCKER’S RALLY AS THE BOURSES DRIFTED BACK IN TO THE RED. MARKETS HAVE TAKEN A TURN FOR THE WORSE AS INVESTORS AT LARGE RESORTED TO HEFTY PROFIT BOOKING AFTER WITNESSING A RELIEF RALLY ON THE MARKETS IN TWO PREVIOUS TRADING SESSIONS. FOREIGN INSTITUTIONAL INVESTORS (FII) ARE RELENTLESSLY ATTEMPTING TO PLOUGH BACK THEIR HOT MONEY FROM THE UNDERPERFORMING EMERGING MARKETS BECAUSE OF THE ACCELERATION SEEN IN THE DEVELOPED WESTERN ECONOMIES LIKE US AND ALSO ON EXPECTATIONS THAT THE RESERVE BANK OF INDIA WILL BE CONTINUING WITH INTEREST RATE TIGHTENING CYCLE GOING FORWARD. MOUNTING UNCERTAINTIES OVER THE LINGERING CIVIL UPHEAVAL IN EGYPT TOO HAS PUMMELED LOCAL SENTIMENTS ON THE LAST TRADING DAY OF THE WEEK. THE HEAVYWEIGHTS FAILED TO SHOW RESILIENCE AND TRAVELLED TOWARDS SOUTH. THE MARKETS SAW POSITION SQUARING FOR MOST PART OF THE DAY AND EVENTUALLY FINISHED THE DAY’S TRADE AROUND THE DAY’S LOW WITH EXTENSIVE LOSSES. VOLUMES FOR MARKETS REMAINED SIGNIFICANTLY HIGHER COMPARED TO PREVIOUS DAYS. THE MARKET BREADTH ON WAS DREADFULLY NEGATIVE

TODAY MARKETS MAY BE VOLATILE AND RANGBOUND IF NIFTY TRADES BELOW 5366 THEN LIKELY TO COME DOWN TO 5321 AND BELOW THIS LEVEL WOULD DRAG NIFTY TO 5276 LEVELS AND THEN TO 5200 LEVELS. ON THE FLIP SIDE IF NIFTY TRADES ABOVE 5404 THEN LIKELY TO MOVE UP TO 5449 AND THEN TO 5500 LEVELS, AS LONG AS NIFTY TRADES BELOW 5550 ONE IS ADVISED TO STAY SHORT AS NIFTY LIKELY TO REMAIN WEAK THOUGH THERE IS EVERY POSSIBILITY FOR NIFTY TO BOUNCE BACK IT WOULD BE ON THE RETRACEMENT FRONT, WHICH MAY RAISE TO 5600 AND THEN TO 5720 LEVELS BUT LIKELY TO COME DOWN MUCH BELOW THE RECENT LOWS IN NIFTY. KEEP AN EYE ON FERTILIZERS.

NO RECOS FOR INTRADAY