25-Oct-2010

Markets are in consolidation mode and are not expected to show any major move on the either side. Nifty shall find strong resistance near 6200-6240 and support will come in at 5900. Nifty will trade in the overall trading band of 5900-6200 during the coming week as results keep coming in. Markets would trade stock specific and hence it is recommended to select stocks that are under performing and be on the buy side.

BUY
ORCHIDCHEM @ 318-320 Tgt 340 SL 314
ADANIENT @ 678-680 Tgt 724, 740 SL 660
AUROPHARMA @ 1164-1166 Tgt 1220 SL 1154

18-Oct-2010

2nd quarter numbers started coming in and markets are witnessing profit taking on solid corporate performance. Nifty finds strong resistance above 6200 in the near term while immediate support comes at 5930. The correction may extend even towards 5780 in an adverse market. Markets would still trade stock specific and one must look at buying specific stocks on this correction. Laggards may get accumulated and may start moving up in the coming weeks.

BUY
ORCHIDCHEM @ 298-300 Tgt 340 SL 290
ADANIENT @ 678-680 TGT 724, 740 SL 660

SELL
RCOM @ 180-182 TGT 168 SL 185
INFOSYSTCH @ 3070-3080 TGT 2900 SL 3120

11-Oct-2010

As expected, Nifty failed to hold above 6200 and corrected despite strong global markets. The overall direction of the markets would depend more on the 2nd quarter results and guidance from the corporate. Overall market sentiment shall remain positive and hence one should trade stock specific. Our markets may turn volatile due to results season and uncertain global clues. One must remain light on the positions and trade stock specific.

BUY
BANKBARODA @ 924-926 TGT 982 SL 916
CIPLA @ 335-336 TGT 361 SL 330
HINDALCO @ 212-214 TGT 222, 239 SL 206
RELIANCE @ 1055-1060 TGT 1200 SL 1030
AUROPHARMA @ 1100-1110 TGT 1210 SL 1085

4-Oct-2010

Due to unavoidable circumstances we couldnt deliver the weekly news letter for the past 7 weeks. We regret the inconvenience.

Outlook for the Week:

As predicted in July, both Sensex and Nifty moved above the crucial psychological resistance levels of 20000 and 6000 respectively. Nifty finds strong resistance above 6200 and hence one should look at booking profits at this juncture. Only a close above 6200 would prompt Nifty to extend the rally towards 6500. The global clues are strong going into the next week and we may expect a strong opening. Short term Nifty traders may sell nifty above 6200 with a day close stoploss above 6240 for an initial target objective of 5930. Markets would still trade stock specific with select stocks getting accumulated during the correction and witness sharp rallies.

BUY
IDBI @ 158-160 TGT 200 SL 150
SOBHA @ 390-392 TGT 442 SL 376
HINDUNILVR @ 308-310 TGT 322, 338 SL 302
OFSS @ 2290-2300 TGT 2480 SL 2250

SELL
RELIANCE @ 1035-1040 TGT 960 SL 1060
IDEA @ 75 TGT 70 SL 76