Gapdown Opening Expected...Asian Mkt will Play Important Role
Watch Level 5040 & 5022
Bounceback expected from These levels
Closing Below 5000 TGT 4970-4945-4890
*I always recommend to Carry 5000 Put....If ny Major slide den our Put will Blast
Since, the Market is Likely to Open on Lower , Due to Weak Global Cues.
RELIANCE POWER........................
BSE Code : 532939 (434.80)
Buy
VIDEOCON APPLIANCES...............
BSE Code : 500945 (30.20
Buy Around 30 to 30.10
ADLABS FILMS.........................
BSE Code : 532399 (722.45)
Buy around 715 to 720
Target for clients only
Today's Pick - ENIL
We recommend a buy in Entertainment Network India from a short-term perspective. It is evident from the chart that the Entertainment Network India was on a medium-term downtrend from its December 2007 high of Rs 700 to its March 2008 low of Rs 332.
However, this downtrend appears to have got arrested at around the March low; the stock has been moving higher since then. In the recent times, the stock crossed over the 21 and 50-day moving averages in the daily chart, which is a bullish signal.
The volume, traded over the past two trading sessions, has also been above average. The daily Relative Strength Index is also featuring in the bullish zone.
Besides, the daily moving average convergence and divergence, which is featuring in the positive territory, is also in line with the uptrend.
We are bullish on the stock in the short-term. We expect the stock to move up to our price target of Rs 480 in the forthcoming trading sessions. Investors with short-term perspective can buy the stock while keeping the stop-loss at Rs 410.