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Tuesday, April 23, 2013

Market Mantra
Afternoon call to the Paid Group member and to those who are trading through my recommended brokerage house: MANAPPURAM FINANCE LTD  (BSE Code: 531213) hit the buyer freeze. The scrip is going to give good returns going forward. In these kinds of markets, I feel it would not be prudent to play on your own, intead it would be better if you allow an expert to trade on your behalf in your portfolio. Even if the loss is made it could be covered over a period. Open an account with my recommended brokerage house and get my support for your trading. 
Buy Future Retail Ltd (BSE Code: 523574) at Rs.148-149, T--Rs.161--162, in the short term. Since the CAD has come down, our government can go for a little bit of expansionary (mode) policies; this will help the companies in the retail sector. There were also some positive media reports on the company. Besides, FDI in retail, will increase the probably of M&A, in this sector. Hence, it is a strong buy at this price. CLICK HERE.
There are not so positive news in the short term in case of B F Utility Ltd. According to one of my friends who exited his holdings in the company said, "There is still no clarity on the part of the government regarding the hand over of the land required for the project". In such a scenario, it would be prudent to book profits at Rs.280--285 and shift to more safer Punj Lloyd Ltd at Rs.52.50--53 or IRB Infrastructure Ltd at Rs.116--117. However, those who have long term vision can keep holding with a strict stop at Rs.262. 
Now for today' market, the Nifty_spot should give a buying opportunity till it is above trend deciding point  at 5773, and which fortunately is still below the current Nifty_Spot rate of 5802, confirming bullish undertone. Hence any down move in Nifty will get supported around 5773 and is expected to offer a buying opportunity, of course with a stop loss of thirty to forty points down that point. However, the aggressive buyers can create some buy positions around 5800-5810 ranges, while the stress should made be to buy Nifty_Futures keeping the peg at around 5770--5773 (spot) ranges. On the upside, the first resistance stands at 5860 (spot) mark and if this is crossed, then the next resistance emerges at 5900 (spot) mark. Chartically speaking the Nifty still maintains a bullish undertone, though the oscillators are place a little higher up.
Resistance: 5860 / 5900 (Nifty_Spot)
Support: 5800 / 5770 (Nifty_Spot).
Those who want to speculate with micro-caps can try Sujana Metals Ltd (BSE Code: 513414) at Rs.2.14, for a target of Rs.5. There are some UNCONFIRMED reports of restructuring going on in the company. However, it is one of my old favorites and if you could remember, I recommended the scrip around Rs.17-18 in 2003-04, after which it crossed Rs.100. In the later stages too also, I recommended this scrip a number of times.