Markets recovered smartly last week after a steep fall witnessed during the week before, but gave away most of the gains on the last trading day. At the end of the week both Sensex and Nifty closed with around 1.5% gains week over week. All major and indices were positive and mid caps did well. It was a market with stock specific performances with positive momentum from Automobiles, Technology, Pvt Banking, Financials and Realty space. Axis Bank (8.78%), Dr Reddy (7.17%), Tata Motors (7.01%), M&M (6.83%), HDFC Bank (5.61%), HCL Tech (5.15%) and DLF (4.88%) were the top Nifty gainers while Idea (9.94%), Cipla (8.45%), Bharti (7.98%), Rcom (5.77%) and Ambuja Cement (4.73%) were among the top losers.
The global clues this morning were extremely negative as correction sets in across all asset classes. Markets back home may not behave differently and hence caution is advised. It looks difficult to make a strong comeback since the worries in the coming quarters look like worsening further. The sovereign default risks at Euro Zone, Negative outlook on China and interest rate fears at US are going to make things worse from here. Buyers should choose only specific stocks and for sellers the opportunities are wide open. Trade with strict stoplosses.
BUY
GODREJIND @ 160-162 Tgt 180 SL 156
SELL
MCDOWELL-N @ 1220-1230 Tgt 1100, 1020 SL 1260
JINDALSAW @ 190-192 Tgt 172 SL 197
HINDZINC @ 1080 Tgt 980 SL 1120
STER @ MKT Tgt 600 SL 730
OFSS @ 2120-2130 Tgt 2000 SL 2150
skip to main |
skip to sidebar
No comments:
Post a Comment