NIFTY MADE A GOOD COME BACK AFTER OPENING FLAT TO WEAK START YESTERDAY. VARIOUS FACTORS LED THE RISE AND SHORT COVERING IN THE MARKET AT THE END OF THE DAY SHOWING THAT MARKET IS PREPARING ITSELF FOR THE RBI POLICY MEET EVENT.OVER ALL IT WAS A GOOD DAY WHERE NIFTY MANAGED TO CLOSE ABOVE 5500.
NOW THE RESISTANCE RANGE IS 5600-5650, WHICH SHALL BE TESTED BY THE MARKETS VERY SOON HOWEVER NIFTY MAY SEE VOLATILITY AHEAD OF RBI MEET ON 17TH MARCH AND POST POLICY, WHICH HAS PRICED IN 25bps TO 50bps HIKE IN THE REPO AND/OR REVERSE REPO RATE NIFTY MAY RALLY TO 5700-5800+++, IF THE OTHER FACTORS LIKE OIL PRICES AND GLOBAL MARKETS SUPPORT. HENCE THERE WILL BE A SHORT TERM RALLY IN THE NEAR TERM AFTER THE RBI MEET, TILL THEN THERE WILL BE A RANGE OF 5400-5600. CRUDE IS LOW BECAUSE OF FALL IN DEMAND FROM JAPAN. HENCE INDIAN MARKETS ARE ENJOYING THE PARTY, HOWEVER IT SHOULD BE KEPT IN THE MIND THAT AS THE NUCLEAR REACTORS ARE SHUT IN THE JAPAN THERE WILL BE HUGE RISE IN THE DEMAND OF THE CRUDE OIL, WHICH MAY LEAD TO A SHARP RALLY IN CRUDE AND METALS LIKE COPPER, ETC. HENCE OIL & GAS COMPANIES LIKE ONGC, CAIRN RELIANCE, HINDOIL, SELAN ETC WILL SEE SHARP RISE FROM NEXT WEEK.
FOR TODAY FOLLOWING STOCKS LOOKS GOOD TO BUY:
1. BAJAJ AUTO(1383.30): SHORT TERM TARGET OF 1565. LOOKS GOOD TO BUY ON FALL.
2. IFCI(53.70): SHORT TERM TARGET OF 56-60. LOOKS GOOD TO BUY ON FALL.
3. MARG LTD(105.40):SHORT TERM TARGET OF 110-115++. LOOKS GOOD TO BUY ON FALL.
4. RELIANCE(1018.35): INTRADAY TARGET OF 1030-35. LOOKS GOOD TO BUY ON FALL.
5. BPCL(570.45):SHORT TERM TARGET OF 575. LOOKS GOOD TO BUY ON FALL.DAY TRADERS MAY KEEP STOP LOSS AT 556 ( ALSO BULLISH FROM NEXT WEEK)
6. IFB IND(122.35): SHORT TERM TARGET OF 150. LOOKS GOOD TO BUY ON FALL.
Safe Harbor
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.
Disclaimer:
This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.
NOW THE RESISTANCE RANGE IS 5600-5650, WHICH SHALL BE TESTED BY THE MARKETS VERY SOON HOWEVER NIFTY MAY SEE VOLATILITY AHEAD OF RBI MEET ON 17TH MARCH AND POST POLICY, WHICH HAS PRICED IN 25bps TO 50bps HIKE IN THE REPO AND/OR REVERSE REPO RATE NIFTY MAY RALLY TO 5700-5800+++, IF THE OTHER FACTORS LIKE OIL PRICES AND GLOBAL MARKETS SUPPORT. HENCE THERE WILL BE A SHORT TERM RALLY IN THE NEAR TERM AFTER THE RBI MEET, TILL THEN THERE WILL BE A RANGE OF 5400-5600. CRUDE IS LOW BECAUSE OF FALL IN DEMAND FROM JAPAN. HENCE INDIAN MARKETS ARE ENJOYING THE PARTY, HOWEVER IT SHOULD BE KEPT IN THE MIND THAT AS THE NUCLEAR REACTORS ARE SHUT IN THE JAPAN THERE WILL BE HUGE RISE IN THE DEMAND OF THE CRUDE OIL, WHICH MAY LEAD TO A SHARP RALLY IN CRUDE AND METALS LIKE COPPER, ETC. HENCE OIL & GAS COMPANIES LIKE ONGC, CAIRN RELIANCE, HINDOIL, SELAN ETC WILL SEE SHARP RISE FROM NEXT WEEK.
FOR TODAY FOLLOWING STOCKS LOOKS GOOD TO BUY:
1. BAJAJ AUTO(1383.30): SHORT TERM TARGET OF 1565. LOOKS GOOD TO BUY ON FALL.
2. IFCI(53.70): SHORT TERM TARGET OF 56-60. LOOKS GOOD TO BUY ON FALL.
3. MARG LTD(105.40):SHORT TERM TARGET OF 110-115++. LOOKS GOOD TO BUY ON FALL.
4. RELIANCE(1018.35): INTRADAY TARGET OF 1030-35. LOOKS GOOD TO BUY ON FALL.
5. BPCL(570.45):SHORT TERM TARGET OF 575. LOOKS GOOD TO BUY ON FALL.DAY TRADERS MAY KEEP STOP LOSS AT 556 ( ALSO BULLISH FROM NEXT WEEK)
6. IFB IND(122.35): SHORT TERM TARGET OF 150. LOOKS GOOD TO BUY ON FALL.
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.
Disclaimer:
This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.
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