Market Mantra: The Bullishness to Continue

Yesterday it was in line with expectations--market traded with a positive bias and Nifty managed to hold above the level of 5290. Although it was a range bound move for entire day, last hour buying pulled index to close at the high of the day, which is positive in chartical point of view. Today also till now the market is trading in a tight range, with stock specific actions. 

Now the market which was waiting for a trigger seems to have got it. Nifty has bounced back to 5300 after taking multiple supports at 5180-5200 level. Long positions should be taken 5400-5500 in the coming days; as there is as such no negative news in the markets.  I am expecting this target by the end of this END of this F & O expiry.

Buy HINDALCO Industries Ltd at Rs.127, T--Rs.133-135, SL--Rs.125. . The company would benefit from the expected buoyancy in the Aluminium prices in the coming days. A Kolkata based brokerage house has given a target of Rs.160 for the scrip. The book value of the shares of the company is Rs.155 and EPS of Rs.12. Hence the stock cannot trade at the current valuations or it should move in the coming days.

Investors should slowly accumulate Kohinoor Broadcasting Corporation Ltd as the company is coming up some solid stories in the coming days. Also, it is going well with its proposed solar power projects. In the Union Budgets 2012-13, there were some positive announcements from the Union Finance Minister, regarding Solar Projects which will help the company in its implementation of the projects.....Moreover, India's largest news agency, The Press Trust of India, will be shut for about 30 hours from Saturday as its employees go on a strike to protest non-implementation of wage board recommendations to increase salaries---this is looked upon as positive news for other media companies, especially which are into news and current affairs. 

Investors should accumulate Suzlon Ltd in all declines, as the company is taking additional measures to ramp  up its resources. I am expecting a target of Rs.30 in the coming days--any dip in the scrip is a buying opportunity. These are some of the life time opportunites to accumulate these kinds of blue chips. Moreover, the price of the scrip has fallen so much, even in these kinds of markets, that it at present becomes a takeover candidate or it could trigger a hostile take over, like that happened in case of IVRCL Infrastructure Ltd.
Meanwhile, my recommended KSK Energy Ventures Ltd has been hitting buyer freeze since the last few days. The stock is headed much higher in the coming days. The next target could be Rs.77-78.