MARKET VIEW FOR 20TH JULY 2011

MARKET CLOSED WITH GAINS AT THE LATER HALF OF THE DAY AFTER A SLACK START WITH SENSEX CLOSING 18654(UP 147 POINTS) AND NIFTY CLOSING AT 5614(UP 46 POINTS).MID-CAP AND SMALL-CAP INDEX WAS UP AND MARKET BREADTH WAS POSITIVE.AS THE NIFTY TRADED IN THE RANGE OF 5557-5627AND SETTLED AT 5613 WITH POSITIVE BIAS, OTHER TECHNICALS ALSO INDICATE BULLISHNESS. NIFTY IS STRUGGLING TO CROSS THE LEVEL OF 200 DEMA YESTERDAY IT HAS SUCCEEDED ALONG WITH THE GAINING IN STRENGTH WITH 50 DEMA.


RANGE FOR THE NIFTY TODAY SHALL BE 5570-5660 AND NIFTY HAVING RESISTANCE BETWEEN 5690-5710, IF IT TRADES ABOVE 5650-60, HOWEVER THE SUPPORT FOR THE NIFTY RESTS AT 5550, 5525 & 5500-5490.


AS MENTIONED YESTERDAY, THAT THE BUYING OF THE CALLS OF NIFTY CE5500 & CE5600 SHALL GIVE PROFITS BY WEDNESDAY AND THURSDAY, ONE SHOULD BOOK PARTIAL PROFITS ON THURSDAY.


FOLLOWING STOCKS AND FUTURES LOOKS GOOD:


1.ITC FUTURE(204.55): BUY AT CMP OR ON DIPS KEEPING STOP-LOSS OF 199 FOR THE TARGET OF 212-215+++.


2.INFOSYS FUT(2756.85):BUY AT CMP OR ON DIPS KEEPING STOP-LOSS 2700 OF  FOR THE TARGET OF 2900+++


3.GTL FUT(80.90):BUY AT CMP OR ON DIPS KEEPING STOP-LOSS OF  FOR 75.00 THE TARGET OF 105+++. ONE CAN ALSO BUY CE80 AROUND 8-10 FOR THE TARGET OF 25++(NOTE: MAY RISE DUE TO SHORT COVERING. A RISKY CALL)


4.SBI FUT(2520.30):BUY AT CMP OR ON DIPS KEEPING STOP-LOSS OF 2490  FOR THE TARGET OF 2550-2575-2600+++.


5.AXIS BANK FUT(1278.20):BUY AT CMP OR ON DIPS KEEPING STOP-LOSS OF 1230 FOR THE TARGET OF 1370-1400+++


FOLLOWING STOCKS SHOULD BE CONSIDERED IN CASH/DELIVERY:


1.HIND ZINC(137):BUY FOR THE TARGET OF 140++++ KEEP SL OF 134.90


2.SKUMAR(54.15):BUY FOR THE TARGET OF 58++++ KEEP SL OF 51


3.MUNDRAPORT(160.40): BUY FOR THE TARGET OF 175++ KEEP SL OF 152.90


ASTROLOGICALLY:NIFTY SHALL BE VERY VOLATILE TODAY. THERE WILL BE DIPS, WHICH SHOULD BE USED TO BUY CE/NIFTY FUTURE. THURSDAY SHOULD BE A POSITIVE DAY.

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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