Market is expected to trade with positive bias today as is seen from the morning trade. Nifty remains strong above 5800 and a rise above 5900 will add more strength to it. More then 250 points rise in a week and a close above major resistance area of 5800 this week can be considered as resumption of uptrend after an intermediate corrective phase. Nifty has close above this resistance after 2 years period, which is a clear sign of strength. The traders are suggested to keep holding long positions and buy good scrips at reasonable valuations.
I think now Manappuram Finance Ltd has consolidated around the current price ranges and is now ready to move up. Buy the share at around Rs.35.50, T--Rs.42, SL--Rs.31. This is in view of the Banking Regulation Act which is expected to be amended, in this session of Parliament.
Note: This report was posted on the Paid Blog, in the morning. You can also get these kinds of updates by joining either my Paid Service or my Brokerage Houses.