Friday, March 25, 2011
Buy and Hold....
ITC (BUY, between Rs169-170, Target Rs178): ITC on the daily chart has given breakout from descending trendline as prices closed above Rs172 with rise in volumes. A positive crossover in RSI accompanied with breakout from flag consolidation supports buying argument in the counter. Adding to it, there has also been a bullish crossover of medium term moving average over the long term moving average which exhibits strength in the counter. The immediate breakout projection stands at Rs180 based on the flag breakout. We advise buying stock in the range of Rs169-170 with stop loss of Rs166 for Target of Rs178. (Duration 7 days).
Market Commentary ..
We’ve just seen some glorious moments on the cricket field as the Men in Blue as just two steps away from getting the World Cup. Global markets seem to be shrugging off concerns related to Japan, spreading unrest in the Middle East and downbeat reports from Portugal and Spain. In fact, global stocks rose for a sixth day, the longest rally for the MSCI World Index since September last.
The Indian indices also clocked gains despite food price index rising to 10.05% in the year to March 2012, from 9.42% in the previous week.
The outlook for today is again positive with the indices expected to remain in a narrow range. The global cues are positive. Asian markets are moving higher as construction stocks are gaining on hopes of rising demand as Japan rebuilds after the earthquake.
US stocks saw some last hour gains after being boosted by positive earnings in the technology sector. The Dow added 85 points; the S&P 500 gained 12.1 points and the Nasdaq moved higher by 38 points.
There is no strong conviction to increase buying at these levels. In case you decide to do so, stick to the relatively larger stocks.
INTRADAY MARKET
Nifty & Sensex Levels
| Nifty / Sensex | F & O Close Rate | R-1 | R-2 | S1 | S2 |
| NIFTY | 5550.7 | 5588 | 5609 | 5512 | 5490 |
| SENSEX | 18350 | 18464 | 18527 | 18274 | 18208 |
Buy Call
Buy Call
| Scrip Name | F & O Close Rate | Target 1 | Target 2 | Stoploss |
| HINDALCO | 205.6 | 209 | 213 | 202 |
| M&M | 669.25 | 680 | 689 | 659 |
| STER | 168.95 | 171 | 173 | 165.5 |
| KOTAK BANK | 450.15 | 461 | 468 | 440 |
| BHEL | 2038 | 2048 | 2077 | 2018 |
NIFTY FO has resistance @ 5569 - 5573; above which other resistance levels are @
5588 - 5610. In down side support levels are @
5533 - 5517 levels; below which other support levels are @
5507 - 5497 levels in MARCH - 2011. �I am positive for next week above
5588 level but be with the trend. Let the market decide further moves.
As we are saying from many days Buying is suggested in falls only...
and its still a better strategy in the given scenario......
One can go for buy at those levels also, but in absence
of that its time to BOOK PROFIT now.
This is a pessimistic outlook but that's the way we tend to be, in this market.
5588 - 5610. In down side support levels are @
5533 - 5517 levels; below which other support levels are @
5507 - 5497 levels in MARCH - 2011. �I am positive for next week above
5588 level but be with the trend. Let the market decide further moves.
As we are saying from many days Buying is suggested in falls only...
and its still a better strategy in the given scenario......
One can go for buy at those levels also, but in absence
of that its time to BOOK PROFIT now.
This is a pessimistic outlook but that's the way we tend to be, in this market.
Thursday, March 24, 2011
Market Commentary ...
A lot of attention will shift to a different screen as our Men in Blue look to end the Aussie yellow fever, which has given them nightmares for long, especially in the World Cup.
Back to the market, it was relaxing to see green on Wednesday as equities managed to recover smartly; a combination of good long built-up and some short covering did the trick. In fact, the provisional numbers for FIIs and DIIs are quite encouraging. The domestic institutions pumped in over Rs11bn. Even the trading volume and turnover picked up from the previous two days. F&O indicators too are pointing to some improvement in sentiment.
This week’s minor pullback has brought the Nifty near its 50 DMA of 5505. We could see the index heading towards 5600 if it sustains above this level. No prices for guessing that the next target will be the 200-DMA around 5680.
So, the start should be a good one as global cues are supportive. Markets across the US, Europe and Asia are holding their own despite apprehensions over the ongoing turmoil in MENA, Japanese nuclear problem and the collapse of government in Portugal.
INTRADAY MARKET
Nifty & Sensex Levels
| Nifty / Sensex | F & O Close Rate | R-1 | R-2 | S1 | S2 |
| NIFTY | 5503.1 | 5521 | 5568 | 5481 | 5452 |
| SENSEX | 18206 | 18260 | 18401 | 18140 | 18053 |
Buy Call
Buy Call
| Scrip Name | F & O Close Rate | Target 1 | Target 2 | Stoploss |
| SESAGOA | 275.8 | 282 | 289 | 269 |
| ACC | 1022 | 1038 | 1054 | 1008 |
| SIEMENS | 882.9 | 903 | 919 | 863 |
| DLF | 235.8 | 243 | 246 | 228 |
| IDFC | 149.35 | 152 | 155 | 146 |
NIFTY FO CLOSED @ 5503 AS ON 23.03.2011
NIFTY FO has resistance @ 5519 to 5533; above which other resistance levels are @ 5547 to 5555. In down side support levels are @ 5488 to 5473 levels; below which other support levels are @ 5460 to 5454 levels in MARCH-2011. I am positive for next week above 5555 level but be with the trend. Let the market decide further moves. As we are saying from many days Buying is suggested in falls only... and its still a better strategy in the given scenario...... One can go for buy at those levels also, but in absence of that its time to BOOK PROFIT now. This is a pessimistic outlook but that's the way we tend to be, in this market.
Wednesday, March 23, 2011
I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over. - Warren Buffett. Kalpesh, Northpole
Welcome Sir !! - Warren Buffett.
Kalpesh, Northpole
Kalpesh, Northpole
Market Commentary ..
The Sage of Omaha is in India finally and feels he should have come here earlier. Better late than never as the legendary investor says. He has also confirmed that India fits into his scheme of things as a large investment destination.
With the market in a state of flux one ought to try and take smaller bets and stick to quality to avoid getting caught on the wrong foot. We are staring at a lower opening due to indecisive global cues and trepidation over the ongoing turmoil in the MENA. Japan’s nuclear issues and Europe’s debt troubles are among the other major pressure points that one is grappling with as of now.
Markets may be relieved that the Government has taken a baby steps towards pending reforms. The tabling of GST bill and the Banking bill is positive, but not without controversy, as the Opposition staged a walk out. Hopefully the momentum in policy making will gather steam.
A move above 5435 could help the Nifty march towards 5470. The next key levels are 5500 and 5550. But, the big one is undoubtedly the 200-DMA (~5680).
Buy Call
Buy Call
Scrip Name | F & O Close Rate | Target 1 | Target 2 | Stoploss |
BHARTI AIRTEL | 327.55 | 333 | 338 | 323 |
JPASSOCIATE | 85.45 | 87 | 88.9 | 83.4 |
M & M | 656.8 | 667 | 674 | 650 |
DR.READDY | 1541 | 1559 | 1577 | 1526 |
SAIL | 161.5 | 164 | 166 | 159 |
NIFTY FO CLOSED @ 5437 AS ON 22.03.2011
NIFTY FO has resistance @ 5461 - 5477; above which other resistance levels are @ 5497 to 5509. In down side support levels are @ 5407 - 5390 levels; below which other support levels are @ 5373 - 5361 levels in MARCH - 2011. �I am positive for next week above 5509 level but be with the trend. Let the market decide further moves. As we are saying from many days Buying is suggested in falls only... and its still a better strategy in the given scenario...... One can go for buy at those levels also, but in absence of that its time to BOOK PROFIT now. This is a pessimistic outlook but that's the way we tend to be, in this market.
Tuesday, March 22, 2011
ACROPETAL: bUY cal given last week at ; now trading at 156
BANG ON TARGET IN JUST 4 DAYS!!!!!!!!!!!!
TARGET ACHIEVED
BOOK PROFIT
ACROPETAL: bUY cal given last week at ; now trading at 156
TARGET ACHIEVED
BOOK PROFIT
ACROPETAL: bUY cal given last week at ; now trading at 156
Market Commentary ..
It’s a ‘summer of discontent’ out there for the Indian market. FIIs seem less inclined to resume their shopping spree here, inflation remains elevated and policy making is in the doldrums. In addition, we have had to grapple with a couple of big ‘overseas blows’ in the form of the Japanese calamity and the MENA turmoil.
On the contrary, Wall Street has enjoyed a few really strong months, as the US economy gathers pace (courtesy QE 2). The eurozone remains a matter of concern even as China continues its efforts to slow its economy.
Just when India was starting to catch up with global counterparts, the momentum appears to be on the wane once again. Thankfully, we expect a positive start on account of the greenery around global indices. Remain on the guard as a softening could take place later in the day.
Be very selective in your stock picking and focus on the larger stocks. Keep your expectations a bit tempered lest you be disappointed. The short term prospects are neither rosy, nor are they dire. A rangebound yet choppy chart for the day lies in store.
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