Trading around 6185 — The index is trading around 6185 levels (high of 13 December 2007), a close above the 6185 level will see index exhibit further strength.Intra day index has support around 6126-6100 levels, intra day declines
should find support around these levels. On the upside resistance levels are 6230- 6270. Intra-day strength can be expected on index sustaining above 6185 levels.
Power stocks glittered on dalal street yesterday with majority of the scrips registering thumping gains across the board. The leaders include NTPC, Reliance Energy,Tata Power and midcaps like Indowind Energy and Torrent Power gained considerable with the latter locked at 20% upper circuit limit. Chennai based BGR Energy flared up nearly 88% from the IPO price while another IPO Burnpur Cement ended the day with a 315% gain to the IPO price. Midcaps continued the upside journey though the markets showed hightened volatility which is expected to further increase in the coming days. Time to take positions in the IT pack with the results round the corner.
Bullish & Bottom fishing counters
Powergrid, AartiDrugs, Concor, HPCL, Jpassociat, RPL, KNL, Selan,
Apil, GMRInfra, HeroHonda, Tatapower, HLL, Ashokley, RIL
Great Offshore(Rs.1,020.20) is undervalued compared to peers. Watch for good rise from these levels.
Short Term Trading Calls
Buy Petronet LNG with stop loss of Rs 110 for a target of Rs 146.
Buy Power Grid Corporation with a stop loss of Rs 140 for short-term target of Rs 170
Buy Neyveli Lignite with stop loss of Rs 240 for a target of Rs 325.
LOTS OF OTHER INTRADAY,BTST,INVESTMENT CALLS
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