HOTPICKS - Hind oil, Hpcl, sterlite
LOTS OF OTHER INTRADAY,BTST,INVESTMENT CALLS
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The market will open gap up around 5400-5450
If we happen to cross this level of 5550 - 5570 successfully then we can look for 5650
On the downside I see a minor support at 5300 followed by 5260.which can be broken which can lead us to 5135 where I see strong support.
Trading Strategy --- Market looks good but keep following a stop loss
Pick No 1 - Buy Core Project (bse code 512199) - Stock is currently trading at 244.25 looks good buy at this level. But it is advised only to buy this only if market is in positive trend. Final stop loss and Target only to clients
Pick No 2 - Buy ITC Ltd. Stock is currently trading at 204. looks good buy at this level. Stop loss should be placed at 200 and if you are risky trader then place it at 196. Stock has closed above the breakout level. This breakout is supported by RSI. Final stop loss and Target only to clients
For Weekly Traders. )
Rolta India Ltd. ( CMP: 252.20 )
By taking a good support at 220.00 level this counter showed a good moment and their was increase in its volume with its valuation. This counter is looking is good for this week and momentum traders may tread in this counter by keeping a target of 274.00
Tata Steel Ltd. ( CMP: 776.45 )
In spite of weakness in metal sector it seems some increase in STEEL. Its main reason is global demand. In coming time this sector shall have positive effect by global demand and its positive effect shall also be on Tata Steel Ltd. Technical Charts is showing strong ness for this weak and weakly traders may tread in this counter by keeping a target of 810.00.
GMR Infrastructure Ltd. ( CMP: 175.35 )
For the last one month this counter is going southward and now there seems some consolidations in this counter and is about to take upper movement in this weak moment traders may tread in this counter by keeping a target of 191.00.
Kirloskar Electric Company Ltd ( CMP: 250.10 )
The way in which there was increase in its volume last Friday that has changed its charts position positive trend though their was weakness in the chart of this counter prior to last Friday, now the chart of this counter is showing its bull position. Moment traders may tread in this counter by keeping a target of 272.00 for this weak.
In an interesting development Reliance ADAG is planning for an IPO from Reliance Telecom Infrastructure soon. Recently Reliance Power mopped up huge subscription money from the public. It appears the group is trying to cash in on the "Reliance" name more than the real developments.
Internet stocks are likely to find flavour soon and there are lot of reasons attributed for the same. Rediff and Sify will soon hit the primary markets due to Indian government regulations for ADR listed Indian companies to have a presence in domestic bourses. The valuations of these two IPO's are likely to be keenly watched by the market players.
We do not expect any problem to bulls today and we are far away from the BSE Sensex resistance level of 19,240. IT stocks logged in strong gains minutes before Microsoft's bid for yahoo. We are highly likely to witness a renewed interest in IT stocks.
Liquidity needs to improve before confidence is restored in the common investor. Reliance Power refund money is likely to improve the same. Pre-budget rally which was missing last year is likely to kick start soon. Keep watching this space soon for updates on sectors and stocks which are likely to benefit from the Budget.
Stock in Newss
Dishman Pharma, Puravankara Projects, Cummins India, GMR Infra,Reliance Tower, City Union Bank and many more
Wipro is likely to foray into defence domain soon.
Koutons Retail is likely to venture into Middle East
Dishman Pharma is looking out for acquisitions in Europe
Reliance Towers, a Rel com company demerged last year is likely to plan IPO to raise Rs 6,000 crores
Span Diagnostics Ltd has received a prestigious order of Rs 6.27 crores from United Nations Office for Project Services for supply of HIV (Rapid) Kits.
GMR Infrastructure Ltd has acquired state of the art runway de-rubberizing equipment, called the TrackJet.
Cummins India Limited Q3 net profit increased by 17%, company declares interim dividend of 100%
City Union Bank registers 83% rise in Q3 net profit.
Evinix Accessories likely to jump into the retail bandwagon soon.
Major PE funds is likely to invest Rs 2,000 cr in Puravankara Projects
Essar Oil to raise $2 billion for future expansion