It is 7th consecutive week of gains for the indices and still counting. Both Sensex and Nifty managed to close the week in green amid sluggish market breadth. The buoyancy is brought back into the markets by Pharma stocks which rose sharply during the week. Second rung Pharma stocks were at the thick of the action as most of them rose in double digits over the week. HDFC Bank was the biggest gainer in Nifty followed by Reliance Power, PNB, Sun Pharma, Cairn and Cipla. The losers included Tata Motors, DLF, Suzlon, GAIL, Idea, Unitech and HDFC.
Markets are trading near 2 year highs and are looking good for a sustained rally. The volumes in the markets have improved significantly during the last few months which supporting the rise. The FY is coming to an end and we may see many stock specific movements to jack the NAVs upwards. In all probability we may see markets closing above the 2 year highs this week and we may go into the next year with lots of enthusiasm. Markets have seen the worst in the last 2 years and it is behind us. It is going to be a stock specific market going ahead and there is a lot on table for the stock picker.
BUY
CANBK @ 410-412 Tgt 440, 460 SL 406
CENTURYTEX @ 518-520 Tgt 542, 590 SL 510
AREVAT&D @ 306-308 Tgt 338 SL 294
WELGUJ @ CMP Tgt 296 SL 274
BHUSANSTL @ 1720-1724 Tgt 1800 SL 1700
GESHIP @ 294-296 Tgt 321 SL 286
skip to main |
skip to sidebar
No comments:
Post a Comment