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

09-Aug-2010

Markets rallied once again after taking break during the week before. Both Sensex and Nifty went up close to 1.5% week on week. Shipping, Metals, FMCG, Energy and Auto stocks were among the gainers.

The global economic data was not so heartening and hence we may see some correction in asset markets across the globe. Markets back home are likely to remain firm despite weak global cues and hence every correction should be treated as a buying opportunity. The risk reward over medium term is highly in favour of buyers. We may witness huge rallies in specific stocks over the coming 1-2 years and hence one should pick the right stories and play long. 5340 Should be the stoploss in Nifty for a target objective of 5800 over the coming 4-6 months.

BUY
TATACHEM @ 352-354 TGT 392 SL 340
PANTALOONR @ 464-466 TGT 500 SL 454
MUNDRAPORT @ 770-772 TGT 820 SL 755
APIL @ 722-724 TGT 760 SL 715

02-Aug-10

The cues from global markets are positive this morning and our markets back home are looking promising going ahead. Nifty kissed the crucial short term support level of 5350 and bounced back. 5350-5340 remains a crucial short term support in the near term while resistances are placed near 5450-5460. Hence markets may find resistance at higher levels and hover around 5400. 5340 is the support which needs to be watched. If markets are able to breach this level we may witness a correction towards 5260 immediately. Short positions may be contemplated in Nifty at the breach of 5340 with a strict stoploss of 5360. Buyers may hold long positions on Nifty with a stoploss of 5340 for a target objective of 5800. Wait for the markets to consolidate before committing. Today’s closing will be crucial for the markets and hence wait for a day or two.

Buying may be contemplated in Tata Chemicals, Pantaloon Retail, Voltas, CESC, United Phosphorous and ITC.

26-July-2010

Markets traded with mixed to positive bias for the last week amid mixed set of fundamental data flow and positive corporate results. The action remained out of the index and select midcaps rallied as market breadth remained flat. Metals, Banking, Telecom and Capital Goods did well while IT and Financials saw some selling. It was a week which saw stock specific performances from all sectors. The top gainers among Nifty stocks included Ambuja Cement, GAIL, Tata Steel, Idea, Sterlite, Bharti and Hindalco while Dr Reddy, ABB and BPCL were among the top losers.

The cues from global markets are positive this morning and our markets back home are looking promising going ahead. Last couple of weeks witnessed a smart consolidation in the major indices followed by a strong breakout on Thursday keeping the chances alive for a strong rally going ahead. 17800 on Sensex and 5340 on Nifty are crucial support levels to keep the positive tone intact for initial target objectives of 20000 and 6000 respectively. Maintain stoploss below the said levels and continue to hold long.