Indian Capital Market remained in a range with a lack of buying interest due to mixed corporate results and global cues. Sensex closed at 17158.44 and Nifty closed at 5205.10 closing little lower by 0.4% than the earlier week.
Going forward concern over weak monsoon, deteriorating macro economic conditions and lack of domestic cues is expected to keep the market tepid. The value of rupee in terms of dollar and possibility of rise in crude could be real headwind for the Indian markets.
If the UPA Government is fails to put the reforms on track soon, markets may take a toll soon else any successful step in term of policy action shall be welcomed by the market. Broadly 5000-4950 remains a strong base, where heavy buying could be started. Stocks like HUL, ITC, L&T, BHEL, ONGC, CAIRN, TATAMOTORS, RELIANCE,HDFC, LIC HOUSING & TCS are the best picks for long term. The Short term range of the Nifty shall be 5150-5400.
Technically Nifty has been moving in the range of 5150 and 5350 for last one month. The same range is expected to continue for next few days. Now if Nifty continues to move above 5400 then the upward rally might take Nifty to 5520 & 5630 in extreme short term. However a breach of 5150 is likely to take Nifty lower to 5040. Hence long trading position should have a stop-loss of 5150.
FOR THIS WEEK:
No trading zone for the Nifty is 5150-5280
BUY CE5300 & CE5400 :If Nifty moves above 5280 keeping 5150 as Stop-Loss for the target of 5350-5400
BUYPE5200 & PE5100 :If Nifty breaches below 5150 keeping 5280 as Stop-Loss for the target of 5110 & 5040.
Following Stocks are very good for Short Term Investment Delivery(STID)45-60 Days:
1. Orchid(127.30): Buy for the target of 135-138-145+++
2. TCS(1223.05): Buy for the target of 1265-1300+++
3. Jubliant Food(1264.65): Buy for the target of 1325-1350++++
4. India Glycol(138.15): Buy for the target of 155-160+++
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.
Going forward concern over weak monsoon, deteriorating macro economic conditions and lack of domestic cues is expected to keep the market tepid. The value of rupee in terms of dollar and possibility of rise in crude could be real headwind for the Indian markets.
If the UPA Government is fails to put the reforms on track soon, markets may take a toll soon else any successful step in term of policy action shall be welcomed by the market. Broadly 5000-4950 remains a strong base, where heavy buying could be started. Stocks like HUL, ITC, L&T, BHEL, ONGC, CAIRN, TATAMOTORS, RELIANCE,HDFC, LIC HOUSING & TCS are the best picks for long term. The Short term range of the Nifty shall be 5150-5400.
Technically Nifty has been moving in the range of 5150 and 5350 for last one month. The same range is expected to continue for next few days. Now if Nifty continues to move above 5400 then the upward rally might take Nifty to 5520 & 5630 in extreme short term. However a breach of 5150 is likely to take Nifty lower to 5040. Hence long trading position should have a stop-loss of 5150.
FOR THIS WEEK:
No trading zone for the Nifty is 5150-5280
BUY CE5300 & CE5400 :If Nifty moves above 5280 keeping 5150 as Stop-Loss for the target of 5350-5400
BUYPE5200 & PE5100 :If Nifty breaches below 5150 keeping 5280 as Stop-Loss for the target of 5110 & 5040.
Following Stocks are very good for Short Term Investment Delivery(STID)45-60 Days:
1. Orchid(127.30): Buy for the target of 135-138-145+++
2. TCS(1223.05): Buy for the target of 1265-1300+++
3. Jubliant Food(1264.65): Buy for the target of 1325-1350++++
4. India Glycol(138.15): Buy for the target of 155-160+++
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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