Markets continued the uptrend and both Sensex and Nifty moved up close to 4% during the week. It was a perfect rally before Diwali with fireworks from all sectors. The second quarter results were heartening and so far there is no big disappointment. The market breadth was extremely positive and provides inkling about the future. SBI, Jindal Steel, Cairn, DLF, Tata Power, SAIL and TCS were among the top gainers while Ambuja Cement, BPCL, RCOM and Bharti remained top losers.
The global clues are strong and we may expect a strong opening here back home. We may see Nifty finding resistance at 5200 and retrace for the day. If we look at the medium term, as long as it remains above 4900, the possibilities of a fresh peak beyond 6000 are open. It requires a close below 4860 to put an end to this stupendous rally. Now the baton passes on to Reliance and ONGC to lead the rally from here on. Accumulate these stocks for surprising gains.
The following are the positional calls for the coming couple of months.
BUY
ESSAROIL @ CMP Tgt 200 SL 160
ONGC @ CMP Tgt 1560 SL 1140
RELIANCE @ CMP Tgt 2700 SL 2120
IVRCLINFRA @ 395-400 Tgt 500 SL 380
skip to main |
skip to sidebar
No comments:
Post a Comment