Last week as predicted market closed on the highest note on the optimism of various news inflow both domestically and globally.
Immediately after taking the charge Finance Ministry, PM gave positive vibration and indication on reforms, GAAR, economic policies tuned the sentiments to optimistic. Globally the EU meeting concluded positively on euro-zone crisis boosted the sentiments among the investors and reflected in the rise of Asian as well as Indian indices, which closed at rise of almost 9% in the month of June. Sensex closed at 17429.98 and Nifty at 5278.90.
Going forward the steps and action of the government shall be the key driver in improving confidence and conviction among the investors, as well as all attempts to increase the inflow of forex so as to contain the value of rupee shall be the focus. As said several times in past Indian capital market is likely to outperform in the near to mid term. Nifty is likely to touch 5400-5500++++. However the journey shall be bumpy and volatile. Individual stocks should be picked for gaining in this kind of market. July series may see Nifty in the range of 5400-5500++++. The broad range in the July series shall be 5150-5500.
Technically the Nifty has support around 5180 & resistance at 5340. Hence the no trading range of Nifty is 5180-5340.
Buy Nifty CE5300 & CE5400: if Nifty moves above 5340 keeping 5180 as stop-loss for the target of 5420-5500.
Buy Nifty PE5200 & PE5100: if Nifty cracks below 5180 keeping 5340 as stop-loss for the target of 5100-5000.
The following Stocks are as good for investment for 45-60 days:
1. Arvind Limited(73.75): Buy for the target of 85-90-110+++.
2. IFB (124.15):Buy for the target of 140-150++++.
3. Cera Sanitary (273.95):Buy for the target of 325++++.
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.
Immediately after taking the charge Finance Ministry, PM gave positive vibration and indication on reforms, GAAR, economic policies tuned the sentiments to optimistic. Globally the EU meeting concluded positively on euro-zone crisis boosted the sentiments among the investors and reflected in the rise of Asian as well as Indian indices, which closed at rise of almost 9% in the month of June. Sensex closed at 17429.98 and Nifty at 5278.90.
Going forward the steps and action of the government shall be the key driver in improving confidence and conviction among the investors, as well as all attempts to increase the inflow of forex so as to contain the value of rupee shall be the focus. As said several times in past Indian capital market is likely to outperform in the near to mid term. Nifty is likely to touch 5400-5500++++. However the journey shall be bumpy and volatile. Individual stocks should be picked for gaining in this kind of market. July series may see Nifty in the range of 5400-5500++++. The broad range in the July series shall be 5150-5500.
Technically the Nifty has support around 5180 & resistance at 5340. Hence the no trading range of Nifty is 5180-5340.
Buy Nifty CE5300 & CE5400: if Nifty moves above 5340 keeping 5180 as stop-loss for the target of 5420-5500.
Buy Nifty PE5200 & PE5100: if Nifty cracks below 5180 keeping 5340 as stop-loss for the target of 5100-5000.
The following Stocks are as good for investment for 45-60 days:
1. Arvind Limited(73.75): Buy for the target of 85-90-110+++.
2. IFB (124.15):Buy for the target of 140-150++++.
3. Cera Sanitary (273.95):Buy for the target of 325++++.
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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