Nifty and Banks at Resistance

Hi all,

There is an important development for all of you to know that the index Nifty has a resistance at 5116. There is also a support which is currently valued at 5029. The next resistance comes at 5318.

Almost all the bank stocks are very close to or at resistance which is a matter of concern. So, if on 16th October the market remains choppy or corrects, it could purely be on the back of Banking Sector (as the sector had been running quiet hard and cheering the market).

For the moment, one can consider buying Guj NRE Coke for a price target of Rs81. The stop loss would be placed at Rs59.

One can continue holding HindZinc for a target of Rs900, Jindal Steel and Power for a target of Rs746, JSW Steel for a target of Rs1080 and Rs1120. Even Rajesh Exports whose cmp is Rs81 (given a target of Rs80) may go to Rs88.


Let's see what the market does tomorrow.


Happy & Profitable Trading.

Calls

Hi all,

First of all, my personal view on Nifty is that we are headed north ways and possibly have a long way to go in shortest time. So, tighten your seat belts and trade in the direction of trend.

Target Stop Loss

Buy Bank of Baroda 567 486
Buy Bharat Forge 313,352 270
Buy BHEL 2591 2420
Buy Honeywell Auto 2036 1770
Buy Jindal Steel & Power 714 622
LIC Housing Finance 864 768
NTPC 242 205
Sterlite Tech 315 268

Note:-
1) Honeywell Auto may consolidate before going up, a kind of throwback.
2) Jindal Steel and Power, LIC Housing Finance and Sterlite Optical are based on my trading plan, which is ideally for aggressive investors only.
3) On the basis of similar set up, SREI Int. has a target of 86.30. Due to lack of data on the stock, cannot tell the stop loss and therefore not recommended to buy.
4) Similarly, Cairn India has a target of Rs301, but due to lack of data, Stop loss cannot be given and so I did not recommend buying.
5) All above information is based on technical analysis.
6) This content is not an offer to buy. It is purely for the purpose of sharing information.

Consider the following

Hi all,

Buy Bank of India for a price target of Rs447/- with a stop loss of Rs391/-.

Buy MRF for a target of Rs6300/-, SL 5550/-

Buy Reliance Capital for a target of Rs1188 with a stop loss of Rs880/-


The next two buys are based on my trading set up, which is for highly adventurous and aggressive traders only.

Buy Orbit Corp. for a target of Rs272 with a stop loss at 238/-.

Buy Rajesh Exports for a target of Rs80/- with a stop loss of Rs63/-.

Aban, Market and US dollar

Hi all,


I am sorry to update this blog very often.

But very soon I will keep updating it on regular basis.

For the moment, one can buy Aban Offshore for a price target of Rs1985 and above and the stop loss would be 1555.

I reiterate buying HDIL with a stop loss at Rs316/- for a price target of Rs375/-.

Markets are expected to be range bound. However, I do not see any major corrections on the way.

New update on US dollar against Indian Rupee. The dollar is expected to go down further to Rs43/-.