After the disappointment from the RBI policy and FOMC meeting regarding the QE3, and successful outcome of Grecce elections market closed almost flat on weekly basis at Nifty 5146.05 & Sensex at 16972.51 both uo around 0.13%. Disappointment from the FED meeting lead to decline in commodity and crude prices however declining value of Rupee in terms of Dollar neutralised the effect of fall in crude prices.
The coming week is full of events like resignation of Finance Minister, Pranab Mukherjee, as expected finance minisrty will be under the Prime Minister there will be move by the finance minsitry and RBI simultaneously to annonce the measures to contain the falling value of rupee, policy measures will be on the limelight as F.M has indicated on friday. Globally, European Summit on 28-29th June 2012 may further pledge help to Greece. Summing up broadly the market is likely to be in a range of 4780-5250 breach of which may give fresh move in the either side. In the near term as expected Nifty may test 5350-5400, if some very good announcements are made in days to come. Stocks to buy are Exide, Hind Unilever, Indian Hotels, Arvind Mills, Jubliant Food, Bombay Dyeing etc.,
Technically speaking the no trading zone for the Nifty is 5070-5180
If Nifty sustains above 5180, buy with a stop-loss of 5070 for the target of 5200-5250-5280++
If Nifty sustains below 5070, sell with a stop-loss of 5180 for the target of 5000-4950.
This week nifty may have positive bias and trading on Nifty options will be more beneficial than the futures.
Broadly as said earlier before the start of June series that market will be moving higher in the series, I expect Nifty to see its expiry above 5250-5300+++
Following Stocks looks good to buy for short term delivery(45-60 days):
1. SHALIMAR PAINT: Buy for the target of 700+++
2. BOMBAY DYE: Buy for the target of 580+++
3. ARVIND MILLS: Buy for the target of 85+++ very soon.
Astrologically: Markets will be bullish in the june series and then there will be a fall for 15-18 days, where the markets will be highly volatile and test both 5250-4750, there after I am expecting a break-out on the higher side, where Nifty will cross 6300+++ by next 4-6 months
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.
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.
The coming week is full of events like resignation of Finance Minister, Pranab Mukherjee, as expected finance minisrty will be under the Prime Minister there will be move by the finance minsitry and RBI simultaneously to annonce the measures to contain the falling value of rupee, policy measures will be on the limelight as F.M has indicated on friday. Globally, European Summit on 28-29th June 2012 may further pledge help to Greece. Summing up broadly the market is likely to be in a range of 4780-5250 breach of which may give fresh move in the either side. In the near term as expected Nifty may test 5350-5400, if some very good announcements are made in days to come. Stocks to buy are Exide, Hind Unilever, Indian Hotels, Arvind Mills, Jubliant Food, Bombay Dyeing etc.,
Technically speaking the no trading zone for the Nifty is 5070-5180
If Nifty sustains above 5180, buy with a stop-loss of 5070 for the target of 5200-5250-5280++
If Nifty sustains below 5070, sell with a stop-loss of 5180 for the target of 5000-4950.
This week nifty may have positive bias and trading on Nifty options will be more beneficial than the futures.
Broadly as said earlier before the start of June series that market will be moving higher in the series, I expect Nifty to see its expiry above 5250-5300+++
Following Stocks looks good to buy for short term delivery(45-60 days):
1. SHALIMAR PAINT: Buy for the target of 700+++
2. BOMBAY DYE: Buy for the target of 580+++
3. ARVIND MILLS: Buy for the target of 85+++ very soon.
Astrologically: Markets will be bullish in the june series and then there will be a fall for 15-18 days, where the markets will be highly volatile and test both 5250-4750, there after I am expecting a break-out on the higher side, where Nifty will cross 6300+++ by next 4-6 months
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.
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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