Technically Nifty Face resistance at 61.8% retracement, If nifty is able to cross 5130 it could be positive sign for market. Till than book profit. Do trade in discipline- book profit - reduce leverage position- generate cash.
Yesterday market opened with good gain but face resistance 61.8% retracement or profit booking at higher level, However renewed buying in the last hour led in indicies to close with marginal gain.
Trader suggested to book profit & trade in selected stock , avoid leverage position.
Fundamentals:
The markets were mixed on Friday with Large caps weak while mid-caps outperformed. Global markets including the Dow and Asia closed positive on Friday on the back of strong economic data, as jobs numbers came in positive. The market was expecting 65000 jobs lost while the actual number was 35000. December and Jan data was also revised downwards. We can expect to see the Indian markets open positive today. Identify sector that haven’t rallied, real estate is a good example. We still remain positive on Banking and Autos as well. It is difficult to predict markets for the medium term however short term we can expect market to continue to remain positive. We do not advise keeping large cash positions. However profits will have to be taken quickly if stocks rally. The last half of march could see downside as liquidity dries up. Buy on dips, the market trend remains bullish as the recent lows have not been broken, but forming new highs could be difficult.
Yesterday Call:
Canara bank achived Tgt in just 2 trading sessions.
BEL 5% up done very well in intraday.
Bhushan steel, hold for Tgt please maintain SL strictly.
GRasim also done very well alomst achived 1st tgt,one can hold for 2nd tgt.
Stock for Watch:
APil: Buy above 566 Sl 557 tgt 595-615 for short term view.
ABB:
Yesterday we have recommended BTST to our clients.
For fresh position one can, Buy above 822 SL 815 Tgt 835-850.
Alkali Metals
Buy above 123.5 sl 118 tgt 135-145
Century Textile:
buy Above 516 sl 504 tgt 530-545
Buy gail @ 408 sl 398 tgt1 431
there is some rr at 413 -after that 52 week high abt 445 seems to be a good tgt
Godrej Industries 160 sl155.5 tgt 168.5
sell ivrcl-338cmp sl 343 tgt 322
Short Term Traders Can Also Watch:
Castrol, DLF, Jindal Steel, Suzlon.
No comments:
Post a Comment