AS MENTIONED NIFTY MOVED IN A NARROW RANGE OF 50-60 POINTS AND CLOSED FLAT ABOUT 10 POINTS HIGHER. NIFTY MANAGED TO CLOSE ABOVE 5500 IS SIGN OF CONSOLIDATION AND MARKET IS FORMING BASE AT AROUND 5400-5500. THIS SHOWS THAT NIFTY MAY BREAK ON THE HIGHER SIDE IF THE GLOBAL MARKETS SUPPORT ALONG WITH THE CRUDE OIL PRICES.
ITS WORTH MENTIONING HERE THAT NIFTY IS WITNESSING A CORRECTIVE RALLY TO THE FALL FROM 6300 TO 5200, HENCE ANY RISE ABOVE 200 D.M.A ( 5600-5650) WILL LEAD TO END OF THE BEAR MARKET AND NIFTY WILL THEN RALLY TILL 6000++.HENCE ITS NOT ADVISABLE TO SHORT IF MARKET SUSTAINS ABOVE 5600. ON THE OTHER HAND IF MARKET SUSTAINS BELOW 5400 THEN CORRECTION WILL RESTART AND NIFTY MAY SLIP TO 5000 OR EVEN BELOW THAT.
THOSE INTERESTED IN BUILDING SHORT TO MEDIUM TERM PORTFOLIO SHOULD WAIT TO BUY EITHER ON FALL TO LOWER LEVELS OR START BUYING ABOVE 5600. HOWEVER IT IS WORTHY TO NOTE THAT THOSE INTERESTED IN MAKING A LONG TERM PORTFOLIO SHOULD START BUYING IN THE STAGGERED MANNER AND KEEP ON PUTTING IN ON EVERY SHARP DECLINES.
FOLLOWING STOCKS LOOKS GOOD TO WATCH TODAY:
TRADING IDEAS:
1. ACC(1004.45): BUY ON DIPS WITH STOP LOSS OF 970 FOR THE SHORT TERM TARGET OF 1030-50
2.ICICI BANK(1035.25):BUY ON DIPS WITH STOP LOSS OF 1000 FOR THE SHORT TERM TARGET OF 1060-80
INVESTMENT IDEA:
1.AURO PHARMA(191.60): INVESTMENT IDEA FOR TARGET OF 350+++ IN A YEAR
2.HDFC(672.70): INVESTMENT IDEA FOR TARGET OF 1050+++ IN A YEAR
3. RELIANCE IND(993.00):INVESTMENT IDEA FOR TARGET OF 1450+++ IN A YEAR
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.
ITS WORTH MENTIONING HERE THAT NIFTY IS WITNESSING A CORRECTIVE RALLY TO THE FALL FROM 6300 TO 5200, HENCE ANY RISE ABOVE 200 D.M.A ( 5600-5650) WILL LEAD TO END OF THE BEAR MARKET AND NIFTY WILL THEN RALLY TILL 6000++.HENCE ITS NOT ADVISABLE TO SHORT IF MARKET SUSTAINS ABOVE 5600. ON THE OTHER HAND IF MARKET SUSTAINS BELOW 5400 THEN CORRECTION WILL RESTART AND NIFTY MAY SLIP TO 5000 OR EVEN BELOW THAT.
THOSE INTERESTED IN BUILDING SHORT TO MEDIUM TERM PORTFOLIO SHOULD WAIT TO BUY EITHER ON FALL TO LOWER LEVELS OR START BUYING ABOVE 5600. HOWEVER IT IS WORTHY TO NOTE THAT THOSE INTERESTED IN MAKING A LONG TERM PORTFOLIO SHOULD START BUYING IN THE STAGGERED MANNER AND KEEP ON PUTTING IN ON EVERY SHARP DECLINES.
FOLLOWING STOCKS LOOKS GOOD TO WATCH TODAY:
TRADING IDEAS:
1. ACC(1004.45): BUY ON DIPS WITH STOP LOSS OF 970 FOR THE SHORT TERM TARGET OF 1030-50
2.ICICI BANK(1035.25):BUY ON DIPS WITH STOP LOSS OF 1000 FOR THE SHORT TERM TARGET OF 1060-80
INVESTMENT IDEA:
1.AURO PHARMA(191.60): INVESTMENT IDEA FOR TARGET OF 350+++ IN A YEAR
2.HDFC(672.70): INVESTMENT IDEA FOR TARGET OF 1050+++ IN A YEAR
3. RELIANCE IND(993.00):INVESTMENT IDEA FOR TARGET OF 1450+++ IN A YEAR
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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