Last week was seen on affirmative note in Indian Stock Markets with Indices gaining around 1% on account some ease in Inflation and relief in overall monsoon deficit.
Prime Minister's Economic Advisory Council (PMEAC) revised downwards the GDP projection for the current fiscal from earlier 7.5%-8% to 6.7%. It also raised its inflation forecast for the March end to 6.5%-7% from an earlier estimate of 5%-6%. Global cues remain muted. Sensex closed at 17691.08 and Nifty closed at 5366.30.
Going forward, Indian market is likely to continue to trade in a range, while Nifty could touch to 5400 levels. Though the CAG report on Coal Block Allocation is hype and depcits the biasness but its likely to give the sense of fear of deep correction in the market, however cheap valuations and ample liquidity flow may stop such correction. Hence its advisable to buy on correction, if any. Stocks like Deltacorp, Lupin, SBI, Reliance, Tech Mahindra, Kenna Metal, TTK Pharma, TTK Prestige, Lovable, United Spirit, etc.,
As per some experts on Technical Analysis the daily chart of Nifty is showing that it has given a pull back rally of almost 7.3% in last 15 trading sessions. Now it is expected to face strong resistance at 5440. If Nifty is able to maintain above 5440 then Nifty could rally to 5520 and then to 5640 in the short term. However if Nifty breaches below 5250 it would indicate end of current rally and in that case Nifty may test 5150-5030.
Prime Minister's Economic Advisory Council (PMEAC) revised downwards the GDP projection for the current fiscal from earlier 7.5%-8% to 6.7%. It also raised its inflation forecast for the March end to 6.5%-7% from an earlier estimate of 5%-6%. Global cues remain muted. Sensex closed at 17691.08 and Nifty closed at 5366.30.
Going forward, Indian market is likely to continue to trade in a range, while Nifty could touch to 5400 levels. Though the CAG report on Coal Block Allocation is hype and depcits the biasness but its likely to give the sense of fear of deep correction in the market, however cheap valuations and ample liquidity flow may stop such correction. Hence its advisable to buy on correction, if any. Stocks like Deltacorp, Lupin, SBI, Reliance, Tech Mahindra, Kenna Metal, TTK Pharma, TTK Prestige, Lovable, United Spirit, etc.,
As per some experts on Technical Analysis the daily chart of Nifty is showing that it has given a pull back rally of almost 7.3% in last 15 trading sessions. Now it is expected to face strong resistance at 5440. If Nifty is able to maintain above 5440 then Nifty could rally to 5520 and then to 5640 in the short term. However if Nifty breaches below 5250 it would indicate end of current rally and in that case Nifty may test 5150-5030.
Advise: Analysts are in the view that currently all long positions should be booked out and one should re-enter the market to make fresh long positions as and when Nifty crosses and closes above 5440.
FOR THIS WEEK IN NIFTY FUTURE/ OPTIONS:
1. No trading zone for the Nifty is 5290-5400.
2. Buy Nifty Future or CE5400 & CE5500 If Nifty breaks above 5400, keeping 5290 as stop-loss for the target of 5440 & 5520.
3. Sell Nifty Future or Buy PE5300 & PE5200 if Nifty breaks below 5290, keeping 5400 as stop-loss for the target of 5250 & 5200.
FOLLOWING STOCKS are very Good for delivery in Cash FOR 45-60 Days. Please Don't speculate or over trade just merely on the basis of my recommendations. Buy only if you have money and patience to remain invested for medium term.
1. DELTA CORP(64.35): This Stock was recommended last week and now recommeded again for a very short term target of 77-81++++++. Those Interested could hold this stock for 100-110++ till Deepawali this year and for the target of 350++ in a period of 24 months...... Just buy +++++++.
2. Rallis(127.65): This Stock is now set to rise to 150-160-170+++ Buy for medium term to long term also.
3. Wockhart Pharma(1298.65): I have personally recommeded all my messenger friends around 1100 levels. Stock will soon rise to 1500++++. Very positive outlook in near term. THose holding may continue to hold and may buy fresh if they have money.
4. Vediocon Ind(176.00): Buy this Stock for a short term target of 185-190+++.
5. Lupin(571.15): Buy this Stock for a short term target of 600-630++++. Medium term target 1000++ Long term target of 2500+++.
6. Tata Motors(240.45): Buy this Stock for a short term target of 300-330++++. Medium term target 400++ Long term target of 700+++.
6. Wendt India(1755.00): Buy this Stock for a short term target of 2000-2100++++. Medium term target 2500++ Long term target of 4000+++.
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.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.