Remarkably last week Finance Minister, Chidambarm's proposal to set up a National Investment Board which is part of the reforms programme planned by him along with optimism from global agencies affirmative view on the Indian economy shrugged off the second quarter GDP growth that slowed down to 5.3%. After initial volatility during the week, Indian markets gained momentum as UPA government agreed for vote on FDI on Retail after having gained confidence of some allies, which clearly signal that the government may be able to push through key reforms. Also to the positive vibes the INR also appreciated adding goodness to the sentiments....
Nifty & Sensex closed with a weekly gains of 4.5% at 5879.85 & 19339.90 respectively.
Going forward the week is very crucial as the result of voting on FDI on retail will throw light on the reforms agenda of the government. If the voting is favorable we may see markets gaining further grounds, led by Banking and Capital Goods and select mid-cap stocks like AB Nuvo, Pantaloon, Trent etc.,
Technically the expert Tech Analysts, conclude that
" After making a low of 5548.35 on 23rd November Nifty has given a strong pull back rally of almost 6% in the last two weeks. It has also breached its short term crucial resistance of 5815 on Thursday. We expect this rally to continue to 5950 and breach of this level would open the gate for 6080 in the extreme short term. On the other hand a breach of 5730 would indicate the end of the current rally and in that case Nifty may go down and take support near 5540.(This could happen, if the government looses the battle of FDI on voting in the Parliament).
FOR THIS WEEK:
No Trading zone is 5800 to 5950.
BUY CE5900 & CE6000 , if Nifty breaks above 5950, keeping Stop-Loss of 5800 for the target of 6030 & 6080.
BUY PE5800 & PE5700, if Nifty breaks below 5800, keeping Stop-Loss of 5950 for the target of 5730 & 5630.
FOLLOWING STOCKS ARE BEST FOR BOTH INVESTMENT (1-2 YEARS) AND VERY SHORT TERM DELIVERY(45-60 DAYS):
1. LUPIN (590.70):Buy for the delivery target of 610-630-660 in the very short term holding.
2. DR REDDY(1820.00):Buy for the delivery target of 1860-1880-1930-1950 in the very short term holding.
3. L&T(1667.10):Buy for the delivery target of 1680-1720-1760 in the very short term holding.
4. ION EXCHANGE(140.50):Buy for the delivery target of 155-165-180++ in the very short term holding.
5. AEGIS LOGISTIC(176.55):Buy for the delivery target of 188-196-210-225 in the very short term holding.
THOSE INTERESTED IN SPECULATION AND RISKY TRADES CAN TRADE FOR 5-10 DAYS IN THE FOLLOWING COUNTERS:
1. DENA BANK(111.1): Buy keeping the Stop-Loss of 109.80 for the target of 114-116++
2. ABB(712.85): Buy keeping the Stop-Loss of 690.00 for the target of 732-744-760+++
3. JAIN IRRIGATION(67.75): Buy keeping the Stop-Loss of 64.80 for the target of 69.75-72.50
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.
Nifty & Sensex closed with a weekly gains of 4.5% at 5879.85 & 19339.90 respectively.
Going forward the week is very crucial as the result of voting on FDI on retail will throw light on the reforms agenda of the government. If the voting is favorable we may see markets gaining further grounds, led by Banking and Capital Goods and select mid-cap stocks like AB Nuvo, Pantaloon, Trent etc.,
Technically the expert Tech Analysts, conclude that
" After making a low of 5548.35 on 23rd November Nifty has given a strong pull back rally of almost 6% in the last two weeks. It has also breached its short term crucial resistance of 5815 on Thursday. We expect this rally to continue to 5950 and breach of this level would open the gate for 6080 in the extreme short term. On the other hand a breach of 5730 would indicate the end of the current rally and in that case Nifty may go down and take support near 5540.(This could happen, if the government looses the battle of FDI on voting in the Parliament).
FOR THIS WEEK:
No Trading zone is 5800 to 5950.
BUY CE5900 & CE6000 , if Nifty breaks above 5950, keeping Stop-Loss of 5800 for the target of 6030 & 6080.
BUY PE5800 & PE5700, if Nifty breaks below 5800, keeping Stop-Loss of 5950 for the target of 5730 & 5630.
FOLLOWING STOCKS ARE BEST FOR BOTH INVESTMENT (1-2 YEARS) AND VERY SHORT TERM DELIVERY(45-60 DAYS):
1. LUPIN (590.70):Buy for the delivery target of 610-630-660 in the very short term holding.
2. DR REDDY(1820.00):Buy for the delivery target of 1860-1880-1930-1950 in the very short term holding.
3. L&T(1667.10):Buy for the delivery target of 1680-1720-1760 in the very short term holding.
4. ION EXCHANGE(140.50):Buy for the delivery target of 155-165-180++ in the very short term holding.
5. AEGIS LOGISTIC(176.55):Buy for the delivery target of 188-196-210-225 in the very short term holding.
THOSE INTERESTED IN SPECULATION AND RISKY TRADES CAN TRADE FOR 5-10 DAYS IN THE FOLLOWING COUNTERS:
1. DENA BANK(111.1): Buy keeping the Stop-Loss of 109.80 for the target of 114-116++
2. ABB(712.85): Buy keeping the Stop-Loss of 690.00 for the target of 732-744-760+++
3. JAIN IRRIGATION(67.75): Buy keeping the Stop-Loss of 64.80 for the target of 69.75-72.50
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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