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Monday, December 31, 2012

Market Mantra
Southern Online Bio Tech Ltd  hits the buyer freeze in the opening trade. Those who bought with me will be smiling their way to the bank.
Suzlon Energy Ltd today touched Rs.19.55, before cooling down a bit. The company's lenders will meet on Dec 31, 2012 to finalise its debt recast package. The investors should close their eyes and keep accumulating the scrip on all declines. I think most of  you  have bought today, when the scrip fell down to around Rs.18.50.
ARSS Infrastructure Ltd which was recommended only some days back hit the buyer freeze at the mid--afternoon trade, due to some positive development.
RDB Realty and Infrastructure Ltd is doing a lot of projects and the scrip has more or less formed a base around Rs.26. One should accumulate the scrip and keep holding for a short term price target of Rs.44. There is very little downside in the scrip.
As expected the market witnessed a smart rally on last Friday. Since the morning till now the market is trading in a very small range. The Nifty (Spot) is holding the 5870-- 5900 range today till now, which only points that the US lawmakers are probably close to any meaningful solution to the Fiscal Cliff. On the Chartical Front, the market remains strong as long as it traded above 5800 level. Profit booking at higher level and correction remains the basic characteristic of an  uptrend, and this can be witnessed from time to time. As mentioned earlier, the up trend remains intact till Nifty_Spot trades above 5800.
Today, many of the Asian markets are shut for New Year's holiday and hence nothing much inference can be taken.  The European Markets have opened more or less in the flat territory.
On the other hand the US stocks fell over 1% on last Friday, as lawmakers failed to arrive at a consensus to avert FISCAL CLIFF. The Republicans and Democrats need to reach a deal before January to avert some tax hikes and spending cuts. However, the both the ruling and the opposition party will find some solution, which will be beneficial for the US. Hence, we need to  use too much of our brains on the same. I find this is simply a no-brainer, where the media is making us, think too much.
Domestic share indices are seen to trade flat today, as investors remain jittery ahead of the Dec 31 deadline for US lawmakers to reach a budget deal. However the prudent investors should use this opportunity to buy Nifty_Futures now at 5900 (Spot) for a target of 5940 (spot), with a SL 58 65.