NIFTY OPENED WITH THE GAP UP BUT ENDED LOWER AFTER A VERY VOLATILE AND DIRECTION LESS SESSION. NIFTY ENDED AT 5364.75 DOWN 8.95 AND SENSEX AT 17839.05 DOWN 39.76. EVEN IF THE ASIAN & EUROPEAN PEERS WERE TRADING STRONG ON BUYING IN BEATEN DOWN STOCKS AFTER A SELL-OFF IN PREVIOUS FEW SESSIONS ON REASONS LIKE INFLATION, HIGHER OIL PRICES AND JAPAN CRISIS INDIAN BOURSES FAILED TO SUSTAIN AT THE HIGHER LEVELS AND NIFTY CLOSED BELOW 5400.
ANALYSTS SAY THAT ONLY IF CRUDE TOUCHES USD $90-95 PER BARREL, THEN THE MARKET MAY GO UP BUT UNTIL THEN NIFTY IS LIKELY TO REMAIN BETWEEN 5330 AND 5560 KIND OF LEVELS, ON THE OTHER SIDE IF CRUDE TOUCHES USD $130-135 THEN NIFTY MIGHT TAKE A SHARP KNOCK TO 5100 OR BELOW.
AS SAID PREVIOUSLY THE BROAD TREND OF THE MARKET IS DOWN AND SENSEX AND NIFTY WILL GRADUALLY DRIFT DOWN BY NEXT 3-4 MONTHS( MAY BE TO 4800 IN NIFTY & 16000 ON SENSEX) IT WILL BE HARD TO MAKE MONEY BY SHORTING THE MARKETS (NIFTY AND INDICES) FOR THE SHORT TERM. HENCE SELLING DEEP OUT OF MONEY OPTIONS LIKE 5000 PE AND 5600 CE WILL KEEP ON GIVING SMALL PROFITS.SOME SHORT TERM BUYING IN STOCKS COULD BE CONSIDERED FOR UP SWING IF NIFTY CROSSES DECISIVELY ABOVE 5450-5460.
FOLLOWING STOCKS NEED TO BE WATCHED FOR SHORT TERM TRADE:
1. COAL INDIA (347.15): MAY RISE BY NEXT 2-3 DAYS AND BUY ON DIPS FOR DELIVERY FOR THE TARGET OF 360-380++++
2. GUJRAT FLOURO (346.20): VERY BULLISH ON THIS COUNTER FOR THE TARGET OF 450+++ FOR THE NEXT 2-3 MONTHS. FIIs ACCUMULATING AT EVERY FALL FOR LAST 3-4 MONTHS.
3. EXIDE (132.55): FOR VERY SHORT TERM WORST IS OVER. STOCK SHOULD BE BOUGHT FOR TARGET OF 140++ KEEPING STOP LOSS OF 129
4. SHREE RENUKA (70.05): FIRM GLOBAL PRICES MAY PUSH THIS STOCK HIGHER BY NEXT 3-4 MONTHS. STOCK COULD REACH 110++. FOR SHORT TERM TARGET IS 76+++
5. GAIL(450.45): BUY ON DIPS FOR THE SHORT TERM TARGET OF 465+++ KEEPING THE STOP LOSS OF 444.
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.
ANALYSTS SAY THAT ONLY IF CRUDE TOUCHES USD $90-95 PER BARREL, THEN THE MARKET MAY GO UP BUT UNTIL THEN NIFTY IS LIKELY TO REMAIN BETWEEN 5330 AND 5560 KIND OF LEVELS, ON THE OTHER SIDE IF CRUDE TOUCHES USD $130-135 THEN NIFTY MIGHT TAKE A SHARP KNOCK TO 5100 OR BELOW.
AS SAID PREVIOUSLY THE BROAD TREND OF THE MARKET IS DOWN AND SENSEX AND NIFTY WILL GRADUALLY DRIFT DOWN BY NEXT 3-4 MONTHS( MAY BE TO 4800 IN NIFTY & 16000 ON SENSEX) IT WILL BE HARD TO MAKE MONEY BY SHORTING THE MARKETS (NIFTY AND INDICES) FOR THE SHORT TERM. HENCE SELLING DEEP OUT OF MONEY OPTIONS LIKE 5000 PE AND 5600 CE WILL KEEP ON GIVING SMALL PROFITS.SOME SHORT TERM BUYING IN STOCKS COULD BE CONSIDERED FOR UP SWING IF NIFTY CROSSES DECISIVELY ABOVE 5450-5460.
FOLLOWING STOCKS NEED TO BE WATCHED FOR SHORT TERM TRADE:
1. COAL INDIA (347.15): MAY RISE BY NEXT 2-3 DAYS AND BUY ON DIPS FOR DELIVERY FOR THE TARGET OF 360-380++++
2. GUJRAT FLOURO (346.20): VERY BULLISH ON THIS COUNTER FOR THE TARGET OF 450+++ FOR THE NEXT 2-3 MONTHS. FIIs ACCUMULATING AT EVERY FALL FOR LAST 3-4 MONTHS.
3. EXIDE (132.55): FOR VERY SHORT TERM WORST IS OVER. STOCK SHOULD BE BOUGHT FOR TARGET OF 140++ KEEPING STOP LOSS OF 129
4. SHREE RENUKA (70.05): FIRM GLOBAL PRICES MAY PUSH THIS STOCK HIGHER BY NEXT 3-4 MONTHS. STOCK COULD REACH 110++. FOR SHORT TERM TARGET IS 76+++
5. GAIL(450.45): BUY ON DIPS FOR THE SHORT TERM TARGET OF 465+++ KEEPING THE STOP LOSS OF 444.
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.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.