Market Mantra
Market witnessed smart rally on Thursday. It was F&O expiry and last
trading day of the week. A negative start turned into positive and
sustained buying pulled Nifty to a high of 5693 before giving a 42
points higher close at 5682.
There was total absence of any correction during the day. Market is
sitting at major support level. Oversold technical picture is advocating
an up move, which we are witnessing since the start of the trade today.
Smart bounce back on Thursday from crucial 200 DMA support is a sign of
strength. Rally seems imminent if bulls manage to hold the support of
5600-5630. The Nifty_Future traders can go for longs with a target of
5740 (Spot) levels.
Resistance: 5700 / 5725
Support: 5630 / 5600
Buy Reliance Broadcast Network Ltd (BSE Code: 533143) at Rs.25.5--26, for a
target of Rs.32-35. The completion of digitization process in many of the circles, within a short time is positive for the company. CMP: Rs.25.50.
Buy Allahabad Bank Ltd at Rs.127.50--128, for a short term target of Rs.137--139. It seems the scrip has at last formed a permanent bottom at around Rs.124--125 ranges.
Buy Jindal Steel and Power Ltd at Rs.342, T--Rs.365, SL--Rs.335. The stock could give a bounce from the oversold positions. Also, fundamentally speaking it has its deal done in case of Gujarat NRE Coke Ltd.
Southern Online Bio Tech Ltd hits the buyer freeze in the mid-afternoon trade. The company's 2nd factory which is massive is expected to start commercial production anytime from now. So, remain invested and buy the scrip on all declines.
The 1st and 2nd target of B F Utility Ltd for the short term has been achieved. Book complete profits and wait for the dips to enter the counter again.
Join my Paid Service or my recommended Brokerage Houses, to gain maximum from the next phase of Bull Run. In these kinds of markets when the experts are finding it extreme difficult to make money due to, high volatility on both the sides, it might be suicidal if you try to play on your own. If you need a doctor when you fall ill, why do you not go for experts, in these cases. Making money from the equity markets is quite difficult, unlike what many people thinks.
Buy Allahabad Bank Ltd at Rs.127.50--128, for a short term target of Rs.137--139. It seems the scrip has at last formed a permanent bottom at around Rs.124--125 ranges.
Buy Jindal Steel and Power Ltd at Rs.342, T--Rs.365, SL--Rs.335. The stock could give a bounce from the oversold positions. Also, fundamentally speaking it has its deal done in case of Gujarat NRE Coke Ltd.
Southern Online Bio Tech Ltd hits the buyer freeze in the mid-afternoon trade. The company's 2nd factory which is massive is expected to start commercial production anytime from now. So, remain invested and buy the scrip on all declines.
The 1st and 2nd target of B F Utility Ltd for the short term has been achieved. Book complete profits and wait for the dips to enter the counter again.
Join my Paid Service or my recommended Brokerage Houses, to gain maximum from the next phase of Bull Run. In these kinds of markets when the experts are finding it extreme difficult to make money due to, high volatility on both the sides, it might be suicidal if you try to play on your own. If you need a doctor when you fall ill, why do you not go for experts, in these cases. Making money from the equity markets is quite difficult, unlike what many people thinks.
