Dalal Street will open to positive global cues today and is likely to trade up for the entire session. We expect markets to shake out one more time before going down. From an investor perspective sitting near the fence and watching the game is the best strategy.
Q1 GDP numbers failed to cheer the investor crowd as they appeared to be on the expected lines. Expect midcap and smallcap stocks to outperform the indices today.
DStreet market analyst Venkata Srikanth says "We advise our clients to press the 'Cashout' button when ever they get a chance in the intermediate upmoves. We expect the market to undergo a severe correction in September
Stocks in news today : Kingfisher Air, NMDC, Natco Pharma
Kolkatta based Uttam Galva Steels Ltd. which was in limielight last year when Mittal acquired 50 pct stake in the company.
From the last one year stock was trading in a narrow band of Rs 100 - Rs 140. The stock showed great strength in yesterday's shaky market. While it is too early to come to a conclusion about a medium term bull trend, one should clearly wait and watch for Rs 140 levels to be taken off with volumes.
A two times close above Rs 140 level will place this stock in the bull zone.
One Year - Weekly chart of Uttam Galva