Today's Strategy
If you go to study the reason behind Monday market fall, you will find several. But if you had follow technical you would have never get caught or you would have exited with minor loss.
Lets come to a point. How does market look tomorrow ?
If you survey it closely you would see that market had recovered at the last half an hour trade, this is one of the positive sign.
But seeing the European markets I don't expect a positive opening, unless Asian markets comes out with miracle.
Let us assume that the market goes down. In this keep a watch on 5085 a first technical support, if we happen to break this level and trade below this level for a couple of minutes we might see 4980. These two are most important level to watch, if market is expected to bounce back then bounce back should come from any one of these levels. If these two levels fails to give any reaction then we might see 4600 - 4650.
If at all we happen to move towards positive direction, then the first resistance we find it at 5375 not a very hard resistance then 5412, 5495 but we find a solid resistance at 5612 which seems hard to be broken in tomorrow trade if at all market move up with force which is not expected.
NorTechnicals nor Fundamentals work in a panic market hence lets wait and see what happens on Tuesday. Its the best chance a Investor with time horizon of 6 – 12 months should utilise to add stocks
Pick No 1 - Buy Dabur (BSE Code 532683) - Currently trading at 101. Let market settle then buy this stock around 98 keeping a stop at 94. No doubt this stock looks good but market doesn't look good so play cautiously any buy position. The final target and final stop loss will be given only to clients.
Pick No 2 - Buy Cinemax (BSE Code 532807) - Currently trading at 112.70, let market settle buy this stock 102 keep a stop at 92 this stock looks good to buy at this level. Market doesn't look good so play cautiously any buy position. The final target and final stop loss will be given only to clients.
Live calls during market hour are only given to client. Some time we give free calls in week and market updates for free. For this add sheth_jg@yahoo.com