Market Mantra: Markets are Preparing for a major upmove
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| Chart of Housing Development and Infrastructure Ltd |
Buy HDIL at Rs.80.50--81, T--Rs.87-88, SL--Rs.79 (strict). The real estate sector should do well in the coming days, due positive rub-off effect due to interest rate cut. This stock could be recommended by a brokerage house in the coming days, as it has formed a bullish pattern on the charts. Recently, Ashish Tater of Fort Share Broking gave a Long call on HDIL for a target of Rs.94.60--100.
Asian stocks rose today, led by Taiwan and South Korea, while the yen and Asia-Pacific bond risk fell as data showed manufacturing in U.S. and China expanded in April. Oil dropped after closing at the highest level in five weeks and the won rose to the highest in almost a month.
Fundamentally speaking, I feel that our markets will react to strong US markets yesterday and a muted session day before, this may make markets trade with positive bias with stock specific earnings related action remaining high. Some of the actions are already been seen till now in the markets.
Stocks to watch out for in today’s trading session are:
• (+VE) PANTALOON RETAIL: Will demerge its branded apparel retail operations under the Pantaloons format into a separate listed company in which ADITYA
BIRLA NUVO will eventually hold minimum 50.01% stake.
• (-VE) TATA MOTORS: Total sales in April fell 7% on year to 60,086 units due to overall drop in commercial as well as passenger vehicle demand.
• (-VE) PUNJ LLOYD: Jan-Mar consolidated net profit fell by 3% on year to 90.1 mln rupees as high expenses squeezed operating margins nearly 220 basis points.
A brokerage house has given a buy on Pantaloon Ltd at Rs.180, T--Rs.204, SL--Rs.170.
Kohinoor Broadcasting Corporation Ltd, which has come up with television channels and doing solar energy projects is up more than 2% in the opening trade. The stock should touch Rs.20, in the coming days.
On Monday it was in line with expectations. The Market traded with positive bias as Nifty opened with an gap up. Although profit booking dragged down Nifty from the high of 5262, recovery in last hour pulled it back to 5250 level, finally giving a close at 5248 with a net gain of 39 points. Till now the Nifty is still above the support of 5250--5235, and is chugging on well.
Therefore, a close above 5235 after taking multiple supports between 5150 and 5180 area has increased possibility of a rally in market. Long positions can be initiated with a stop of 5130 for an initial target of 5350.
RESISTANCE: XXX/XXX (For Paid Service members)
SUPPORT: XXX/XXX (For Paid Service members)
Meanwhile, in the US, earnings helped indices higher as most numbers reported so far have been inline to ahead of estimates indicating that US economy is well on recovery path.Therefore, a close above 5235 after taking multiple supports between 5150 and 5180 area has increased possibility of a rally in market. Long positions can be initiated with a stop of 5130 for an initial target of 5350.
RESISTANCE: XXX/XXX (For Paid Service members)
SUPPORT: XXX/XXX (For Paid Service members)
Asian stocks rose today, led by Taiwan and South Korea, while the yen and Asia-Pacific bond risk fell as data showed manufacturing in U.S. and China expanded in April. Oil dropped after closing at the highest level in five weeks and the won rose to the highest in almost a month.
Fundamentally speaking, I feel that our markets will react to strong US markets yesterday and a muted session day before, this may make markets trade with positive bias with stock specific earnings related action remaining high. Some of the actions are already been seen till now in the markets.
Stocks to watch out for in today’s trading session are:
• (+VE) PANTALOON RETAIL: Will demerge its branded apparel retail operations under the Pantaloons format into a separate listed company in which ADITYA
BIRLA NUVO will eventually hold minimum 50.01% stake.
• (-VE) TATA MOTORS: Total sales in April fell 7% on year to 60,086 units due to overall drop in commercial as well as passenger vehicle demand.
• (-VE) PUNJ LLOYD: Jan-Mar consolidated net profit fell by 3% on year to 90.1 mln rupees as high expenses squeezed operating margins nearly 220 basis points.
A brokerage house has given a buy on Pantaloon Ltd at Rs.180, T--Rs.204, SL--Rs.170.
Kohinoor Broadcasting Corporation Ltd, which has come up with television channels and doing solar energy projects is up more than 2% in the opening trade. The stock should touch Rs.20, in the coming days.
Prajay Engineers Syndicate Ltd hits the buyer freeze in the opening trade. The stock is expected to cross Rs.100 in the coming days.
Suzlon Ltd moved to Rs.23.20, before cooling down a bit. The stock should gradually move towards the target of Rs.28--29, in the coming days, as the company has chalked out plans for the closure of FCCB issue. Also, the government is taking some measures to revive the sentiments of the Wind Energy sector. 
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