Watch out for stocks in the banking sector especially ICICI Bank and Axis Bank as the euphoria in the financial stocks across the globe might rub on to these stocks.
Reliance Power might see some action on the news of bagging 4,000 MW Tilaiya project.
IT major TCS might see its share price rise after inking a $ 100mn deal with a Uk phone company.
Unitech and SAIL were very active both on the F&O and equity side and expect some more action ahead of the F&O expiry.
Real Estate and Shippingt stocks like GE Shipping and Varun Shipping are likely to extend their gains in to Thursday's trade.
Watch out for speculative stocks that have been beaten up, like Adlabs, Deccan Chronicle and Hanung Toys
Nifty (2850) Sup 2805 Res 2915
Buy Tata Motors (147) SL 143
Tgt 154, 156
Buy HDFC Bank (912) SL 900
Tgt 933, 937
Buy Bharti Airtel (654) SL 648
Tgt 666, 670
Buy R Power (103) SL 100
Tgt 109, 110
Great Offshore
We recommend a buy in Great Offshore for a short-term horizon. It is evident from the charts of Great Offshore that after encountering resistance around Rs 550 in late September, it has seen a steep decline.
However, in early October, the stock found support around Rs 250 and began to consolidate sideways. We notice formation of a falling wedge pattern, spanning the period since October. This pattern is a bullish pattern and acts as a reversal pattern in this stock, as the falling wedge slopes down with its prevailing downtrend.
On January 28, the stock broke out of this pattern by gaining 13 per cent, accompanied with good volume. The daily relative strength index (RSI) is rising in the neutral region towards the bullish zone. Moreover, weekly RSI is displaying prolonged positive divergence and is on the brink of entering the neutral region. We are bullish on the counter from a short-term horizon. We anticipate the stock to move up until it hits our price target of Rs 283. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 243.
JGS Investments is a home of expert stockmarket analysts, and premier source for technical analysts research and information on Indian Stock Markets.Just join us at Yahoo Messenger sheth_jg@yahoo.com OR Email at sheth_jg@yahoo.com
Thursday, January 29, 2009
Wednesday, January 28, 2009
Open gap up then profit booking
Today Expect a Level of 2810 to 2830 where one can sell nifty
Favours, Bears Only, Below 2747 Mark.... If, Break, that Level, Expect a Level of 2727 - 2710 Mark
The key indices could turn choppy after a slightly positive start. Volatility could be higher ahead of F&O expiry
Buy ROLTA at 83.1 stop loss 80.5 target only to client
Short Term - Buy RNRL only above 51.5 stop loss 48.2 target only to client
We like Pharma, Metal and some second rung IT stocks for today's trade. Pharma stocks like Ranbaxy, Cipla and Wockhardt might see some buying interest today after a day in green yesterday.Tata Steel, Sterlite Ind and JSW Steel are our picks in the metals sector.
We recommend a trade in Rolta In (Rs 83) at current levels, as the stock has seen some speculative interest and looks ready for an upmove technically, as its broke some key technical levels on high volumes. Andhra Bank, Ballarpur Ind, Bartronics, BHEL and Cairn India are some of the stocks to keep on radar for the traders, as these companies will be reporting their Q3 numbers this week
Favours, Bears Only, Below 2747 Mark.... If, Break, that Level, Expect a Level of 2727 - 2710 Mark
The key indices could turn choppy after a slightly positive start. Volatility could be higher ahead of F&O expiry
Buy ROLTA at 83.1 stop loss 80.5 target only to client
Short Term - Buy RNRL only above 51.5 stop loss 48.2 target only to client
We like Pharma, Metal and some second rung IT stocks for today's trade. Pharma stocks like Ranbaxy, Cipla and Wockhardt might see some buying interest today after a day in green yesterday.Tata Steel, Sterlite Ind and JSW Steel are our picks in the metals sector.
We recommend a trade in Rolta In (Rs 83) at current levels, as the stock has seen some speculative interest and looks ready for an upmove technically, as its broke some key technical levels on high volumes. Andhra Bank, Ballarpur Ind, Bartronics, BHEL and Cairn India are some of the stocks to keep on radar for the traders, as these companies will be reporting their Q3 numbers this week
Tuesday, January 27, 2009
Higher opening on the cards, Banking and Pharma stocks to lead the gainers
Markets here should get strong fillip at least in early days. Later on of course, the trade will hinge on what the RBI does in its quarterly review
Banking sector is likely to lead the rebound in today's market. Investors could bet on PSU banks like Canara Bank and a short term trade in ICICI Bank could be a profitable bet.Metal stocks like Tata Steel, SAIL and Sterlite Ind might trade in green on opening bell.
The stocks of Satyam Computers might consolidate near the Rs 40 level as things have cooled off a bit.Pharma stocks are likely to remain in the lime light after the blockbuster deal between Wyeth and Pfizer. The stock of Cipla has witnessed huge interest on very high volumes on Friday and is likely to inch higher in the morning trade as the company is touted to be a potential take over candidate.
Akruti City is likely to see huge short covering which gives a strong upward signal to the sotck. Buy at 799 with stop at 780 and book profit at 880 levels. You may carry over long position overnight
Dish TV
We recommend a buy in Dish TV India from a short-term trading perspective. It is evident from the charts of Dish TV that it has been on an intermediate-term up trend from its 52-week low of Rs 11.75, recorded in late October 2008. On December 10, the stock conclusively broke through a key resistance level of Rs 18 by surging 16 per cent. This resistance level is currently acting as a significant support level for the stock.
Taking twin support from a significant support level at Rs 18 and the intermediate-term up trendline, the stock moved up by 3.5 per cent with good volume on January 23. This up move has reinforced the bullish momentum.
The daily relative strength index (RSI) is rising in the neutral region towards the bullish zone. Considering that the intermediate-term up trendline continues to be intact, we are bullish on the stock from a short-term perspective. We anticipate the stock to move up further until it hits our price target of Rs 21 in the upcoming trading sessions. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 18.
Banking sector is likely to lead the rebound in today's market. Investors could bet on PSU banks like Canara Bank and a short term trade in ICICI Bank could be a profitable bet.Metal stocks like Tata Steel, SAIL and Sterlite Ind might trade in green on opening bell.
The stocks of Satyam Computers might consolidate near the Rs 40 level as things have cooled off a bit.Pharma stocks are likely to remain in the lime light after the blockbuster deal between Wyeth and Pfizer. The stock of Cipla has witnessed huge interest on very high volumes on Friday and is likely to inch higher in the morning trade as the company is touted to be a potential take over candidate.
Akruti City is likely to see huge short covering which gives a strong upward signal to the sotck. Buy at 799 with stop at 780 and book profit at 880 levels. You may carry over long position overnight
Dish TV
We recommend a buy in Dish TV India from a short-term trading perspective. It is evident from the charts of Dish TV that it has been on an intermediate-term up trend from its 52-week low of Rs 11.75, recorded in late October 2008. On December 10, the stock conclusively broke through a key resistance level of Rs 18 by surging 16 per cent. This resistance level is currently acting as a significant support level for the stock.
Taking twin support from a significant support level at Rs 18 and the intermediate-term up trendline, the stock moved up by 3.5 per cent with good volume on January 23. This up move has reinforced the bullish momentum.
The daily relative strength index (RSI) is rising in the neutral region towards the bullish zone. Considering that the intermediate-term up trendline continues to be intact, we are bullish on the stock from a short-term perspective. We anticipate the stock to move up further until it hits our price target of Rs 21 in the upcoming trading sessions. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 18.
Friday, January 23, 2009
Flat opening in nifty
we expect another choppy day as Reliance Industries’ better-than-expected results will be offset by bleak global cues. RIL has surprised the market by surpassing all optimistic estimates. The index bellwether may see some spark at least in early trades.
Auto and Realty stocks may hog the limelight amid news of fresh relief measures being considered by the Government.
Airlines may also gain on news that a cabinet panel may take up the proposal to allow foreign carriers to pick up stake in Indian airlines.
Overall, the key indices are likely to open flat, may rebound a bit but are unlikely to sustain any bounce
Tata Steel
We recommend a sell in Tata Steel from a short-term trading perspective. It is apparent from the charts of Tata Steel that after bottoming in late November 2008 at Rs 146, it rallied up to Rs 260. The stock price has appreciated almost 78 per cent between late November 2008 and early January 2009. However, presence of significant resistance at around Rs 250 triggered the stock’s reversal. Since January 7, the stock has been on a short-term down trend. While declining, the stock breached its 21-day moving average. On January 22, the stock conclusively penetrated its 50-day moving average by plummeting 5 per cent on above average volume. The daily relative strength index (RSI) has entered into the bearish zone from the neutral region and weekly RSI is also featuring in this zone. The moving average convergence and divergence also has entered in to the negative territory. We are bearish on the stock from a short-term perspective. We expect the stock’s current decline to continue until it hits our price target of Rs 160 in the forthcoming trading sessions. Traders with short-term perspective can sell the stock while maintaining a stop-loss at Rs 188.
Auto and Realty stocks may hog the limelight amid news of fresh relief measures being considered by the Government.
Airlines may also gain on news that a cabinet panel may take up the proposal to allow foreign carriers to pick up stake in Indian airlines.
Overall, the key indices are likely to open flat, may rebound a bit but are unlikely to sustain any bounce
Tata Steel
We recommend a sell in Tata Steel from a short-term trading perspective. It is apparent from the charts of Tata Steel that after bottoming in late November 2008 at Rs 146, it rallied up to Rs 260. The stock price has appreciated almost 78 per cent between late November 2008 and early January 2009. However, presence of significant resistance at around Rs 250 triggered the stock’s reversal. Since January 7, the stock has been on a short-term down trend. While declining, the stock breached its 21-day moving average. On January 22, the stock conclusively penetrated its 50-day moving average by plummeting 5 per cent on above average volume. The daily relative strength index (RSI) has entered into the bearish zone from the neutral region and weekly RSI is also featuring in this zone. The moving average convergence and divergence also has entered in to the negative territory. We are bearish on the stock from a short-term perspective. We expect the stock’s current decline to continue until it hits our price target of Rs 160 in the forthcoming trading sessions. Traders with short-term perspective can sell the stock while maintaining a stop-loss at Rs 188.
Thursday, January 22, 2009
Banks and Realty stocks to lead the rally
Our nifty and Educomp will rock today
Expect the indices to recover the ground lost yesterday, a gain of 200-300 points or nearly 2 percent is on the cards in morning
SEBI today announced that founders of companies must disclose shares pledged in return for loans, as authorities tighten disclosure rules in the wake of the alleged accounting fraud at Satyam Computer Services Ltd.Banking stocks will be the first ones to bounce in today's trade. Metals and Realty stocks are likely to be among the major gainers.
Some power stocks like Neyveli Lignite and Guj Industrial Power migh put on good show after experiencing double digit losses yesterday. The stock of Satyam computer might have another positive close after news reports that L&T might be very close to take over the company with the support from other stake holders.
Expect the indices to recover the ground lost yesterday, a gain of 200-300 points or nearly 2 percent is on the cards in morning
SEBI today announced that founders of companies must disclose shares pledged in return for loans, as authorities tighten disclosure rules in the wake of the alleged accounting fraud at Satyam Computer Services Ltd.Banking stocks will be the first ones to bounce in today's trade. Metals and Realty stocks are likely to be among the major gainers.
Some power stocks like Neyveli Lignite and Guj Industrial Power migh put on good show after experiencing double digit losses yesterday. The stock of Satyam computer might have another positive close after news reports that L&T might be very close to take over the company with the support from other stake holders.
Wednesday, January 21, 2009
Nifty target 2720
As adviced yesterday, stay away from the banking stocks for now, ICICI bank might be on tremendous pressure from the bears in today's trade.Banking,Metal and Realty stocks are the sectors that are likely to be pounded by the bears.Investors from a long term perspective might look in to 'Power', 'PSU' and 'Pharma' stocks as safe plays for now
The Civil Aviation Ministry’s proposal for allowing foreign airlines to pick up a stake in domestic airlines might boost the stocks in the aviation sector. We expect the stocks in the sector to end flat given the negative sentiment in the market.Later this week the Committee of Secretaries headed by the Cabinet Secretary is to consider a proposal to allow foreign airlines to hold a 49 per cent stake in scheduled, non-scheduled and charter airline.
Wipro has announced its third quarter numbers, reports CNBC TV18. Its Q3 consolidated net profit went up at Rs 1,003.9 crore as against Rs 969.8 crore, QoQ. Its consolidated net sales were up at Rs 6,634.30 crore versus Rs 6,519.60 crore
The Civil Aviation Ministry’s proposal for allowing foreign airlines to pick up a stake in domestic airlines might boost the stocks in the aviation sector. We expect the stocks in the sector to end flat given the negative sentiment in the market.Later this week the Committee of Secretaries headed by the Cabinet Secretary is to consider a proposal to allow foreign airlines to hold a 49 per cent stake in scheduled, non-scheduled and charter airline.
Wipro has announced its third quarter numbers, reports CNBC TV18. Its Q3 consolidated net profit went up at Rs 1,003.9 crore as against Rs 969.8 crore, QoQ. Its consolidated net sales were up at Rs 6,634.30 crore versus Rs 6,519.60 crore
Tuesday, January 20, 2009
Prefer selling at high
The global banking crisis has intensified this week as Royal Bank of Scotland Group Plc slumped 67 percent after saying it expects to post a loss of as much as 28 billion pounds ($41 billion) for 2008 and the government got ready to raise its stake in the lender.
Banking is the sector that looks vulnerable in the current scenario as we might see another round of defaults in the international banking sector, which might hurt the banking stocks.ICICI Bank and few oother private banks with international exposures are the ones to avoid for now.
Satyam Computers might see some activity on the upside with the news that Essar group might consider bidding for the company's BPO business.Unitech might see some buying interest after the company renegotiated 75 percent of its debt obligations with the lenders giving the company some breathing room to operate atleast for the next 12 months.
Banking is the sector that looks vulnerable in the current scenario as we might see another round of defaults in the international banking sector, which might hurt the banking stocks.ICICI Bank and few oother private banks with international exposures are the ones to avoid for now.
Satyam Computers might see some activity on the upside with the news that Essar group might consider bidding for the company's BPO business.Unitech might see some buying interest after the company renegotiated 75 percent of its debt obligations with the lenders giving the company some breathing room to operate atleast for the next 12 months.
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