MARKET VIEW FOR 15TH JULY 2011

INDIAN MARKETS AFTER OPENING WEAK, RECOVERED GRADUALLY AND TUNED POSITIVE BUT ALL OF A SUDDEN DECLINED SHAPLY TO NEGATIVE AND THEN CLOSED SLIGHTLY POSITIVE. NIFTY CLOSED AT 5600 UP(14 POINTS) AND SENSEX AT 18618 ( UP 22). BOTH MID-CAP & SMALL-CAP INDEX WERE UP

. MARKET BREADTH WAS POSITIVE AND FIIs WERE NET BUYERS.

AS ALREADY MENTIONED YESTERDAY THE RANGE FOR THE NIFTY WAS 5540-5630 AND RESISTANCE SHALL BE 5655, IF THE UPPER LIMIT IS BROKEN. MARKET TOUCHED THE LOW OF 5541 AND AFTER BREAKING 5630 IT 5654 JUST NEAR TO THE RESISTANCE. WHICH WAS MENTIONED YESTERDAY. THE FROM THERE IT TURNED BACK INTO THE RANGE AND SETTLED AT 5600 WITH POSITIVE BIAS.

RANGE FOR THE NIFTY TODAY SHALL BE 5550-5630. IF THE LOWER LIMIT  IS BROKEN THEN 5500 SHALL BE SUPPORT AND MAJOR SUPPORT SHALL BE 5470, ON THE HIGHER SIDE BREAK OF 5630 SHALL BRING THEN THE RANGE 5690-5710 SHALL BE THE MAJOR RESISTANCE.

TODAY ALSO ONE SHOULD FORM STRADDLES OF NIFTY CE5600 & PE 5600 SO AS TO CAPTURE THE VOLATILITY. THE BIAS OF THE MARKET AT THE END OF THE DAY SHALL BE SLIGHTLY UP. DONT SHORT AT THE LOWER LEVELS.

FOLLOWING STOCKS ARE GOOD TO LOOK FOR DELIVERY PURPOSE:

1.TECH MAHINDRA  MAY RISE TO 785+++

2. ALBK MAY RISE TO 212-215+++

3. APOLLO TYRES LOOKS GOOD FOR 86++

Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.

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