Last week Indian stock market after volatile sessions ended half a percent higher due to strength in consumer durables , auto and health care stocks. There were no positive surprises from RBI side and the stock specific move was noticed. Sensex closed at 18755.45 & Nifty at 5697.70 almost half an inch higher than previous week.
Going forward Indian markets will continue to trade in a range however this week may be a bit more volatile as US elections and host of quarterly results in heavy weights in banking, metal and mining space will drive the market. IT sector may also remain volatile due to outcome of US elections. I maintain buying in certain stocks like, DELTA, SBI, LT, GLAXO CONS, APOLLO TYRES, TRENT, etc.
Technically on weekly charts , both Sensex and Nifty has formed a bullish pattern and the target as per the formation of pattern is Sensex 20100 and Nifty 6200. These targets could be achieved only if Sensex stays above 18750 & Nifty above 5750. Hence any short term speculative/trading position on the long side should be made only when Nifty sustains above 5750 with the stop-loss of 5600. For those who are holding the long position as of now must keep 5600 as stop-loss.
FOR THIS WEEK: No trading zone for the Nifty is 5600-5750.
Go long in Nifty above 5750 keeping 5600 as stop-loss for the target of 5790-5850-5900.
Go short in Nifty below 5600 keeping 5750 as stop-loss for the target of 5530-5450.
Note: Options of suitable strike prices could be selected to play on the movement on either side of the range 5600-5750, keeping the stop-loss of lower or upper limit as the case may be.
FOLLOWING STOCKS ARE GOOD TO BUY IN DELIVERY FOR THE SHORT TERM (45-60 DAYS):
1. LUPIN(578.70):Buy this share in delivery for both short term and medium term target for which is 630+ and 700+++. No stop-loss. Add on dips.
2. PETRONET(171.70): Buy this share in delivery for both short term and medium term target for which is 198+ and 300+++. No stop-loss. Add on dips.
3. FRESINUS KABI(96.15): Buy this share in delivery for both short term and medium term target for which is 105+ and 120+++. No stop-loss.
4. AUROBINDO PHARMA(170.35): Buy this share in delivery for both short term and medium term target for which is 200+ and 280+++. No stop-loss. Add on dips.
5. BATA INDIA(863.60): Buy this share in delivery for both short term and medium term target for which is 930+ and 1200+++. No stop-loss. Add on dips.
6. KARUR VYASYA BANK(467.30): Buy this share in delivery for both short term and medium term target for which is 495+ and 600+++. No stop-loss. Add on dips.
7. VIVIMED LAB(342.55): Must buy share in delivery for both short term and medium term target for which is 430+ and 500+++. No stop-loss. Add on dips.
Astrological View: The Planetary positions are changing from 7th November 2012 to culminate around 18th December 2012, which show some bullishness in the markets. Nifty may move higher to 5800-5900-6100 range. Hence one should hold the long positions, with a strict stop-loss of 5600.
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 Indian markets will continue to trade in a range however this week may be a bit more volatile as US elections and host of quarterly results in heavy weights in banking, metal and mining space will drive the market. IT sector may also remain volatile due to outcome of US elections. I maintain buying in certain stocks like, DELTA, SBI, LT, GLAXO CONS, APOLLO TYRES, TRENT, etc.
Technically on weekly charts , both Sensex and Nifty has formed a bullish pattern and the target as per the formation of pattern is Sensex 20100 and Nifty 6200. These targets could be achieved only if Sensex stays above 18750 & Nifty above 5750. Hence any short term speculative/trading position on the long side should be made only when Nifty sustains above 5750 with the stop-loss of 5600. For those who are holding the long position as of now must keep 5600 as stop-loss.
FOR THIS WEEK: No trading zone for the Nifty is 5600-5750.
Go long in Nifty above 5750 keeping 5600 as stop-loss for the target of 5790-5850-5900.
Go short in Nifty below 5600 keeping 5750 as stop-loss for the target of 5530-5450.
Note: Options of suitable strike prices could be selected to play on the movement on either side of the range 5600-5750, keeping the stop-loss of lower or upper limit as the case may be.
FOLLOWING STOCKS ARE GOOD TO BUY IN DELIVERY FOR THE SHORT TERM (45-60 DAYS):
1. LUPIN(578.70):Buy this share in delivery for both short term and medium term target for which is 630+ and 700+++. No stop-loss. Add on dips.
2. PETRONET(171.70): Buy this share in delivery for both short term and medium term target for which is 198+ and 300+++. No stop-loss. Add on dips.
3. FRESINUS KABI(96.15): Buy this share in delivery for both short term and medium term target for which is 105+ and 120+++. No stop-loss.
4. AUROBINDO PHARMA(170.35): Buy this share in delivery for both short term and medium term target for which is 200+ and 280+++. No stop-loss. Add on dips.
5. BATA INDIA(863.60): Buy this share in delivery for both short term and medium term target for which is 930+ and 1200+++. No stop-loss. Add on dips.
6. KARUR VYASYA BANK(467.30): Buy this share in delivery for both short term and medium term target for which is 495+ and 600+++. No stop-loss. Add on dips.
7. VIVIMED LAB(342.55): Must buy share in delivery for both short term and medium term target for which is 430+ and 500+++. No stop-loss. Add on dips.
Astrological View: The Planetary positions are changing from 7th November 2012 to culminate around 18th December 2012, which show some bullishness in the markets. Nifty may move higher to 5800-5900-6100 range. Hence one should hold the long positions, with a strict stop-loss of 5600.
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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