Thursday, April 11, 2013

Market Mantra
Tulip Telecom Ltd hits another buyer freeze in the opening trade. As mentioned earlier the scrip should vertically rise up from here, as its fundamentals are set to improve more and more in the coming days. I have repeatedly asked to buy this scrip, like I am telling in case of Geodesic Ltd (CMP: Rs.10.50). 
Buy Jindal Steel and Power Ltd at Rs.329, SL--Rs.322 (just exit), T--Rs.341. The government is coming up with export incentives on 18th of this month and steel sector is one of the biggest exporters, after IT, Textiles, Gems and Jeweleries, etc. 
Excerpts of my mid-market inputs to the Paid Group Members and also to those who are trading through my recommended brokerage house/s: Yesterday, the Indian markets recovered from a new low of 5477. The Nifty at the end of the day witnessed smart buying which lifted it to around 5569. It was a choppy session during first half and finally Nifty (spot) closed at 5558 with a net gain of 65 points.
The market is trading firm today amidst strong global cues. Smart recovery in Nifty from new low shows buying interest has again emerged. Inability to breakdown 5525 decisively and a subsequent bounce back, from this level is a sign of strength. It seems, the market may  continue to rally in the next few trading sessions. The traders are suggested to ......(this part is for the Premium Group Members. Join my recommended brokerage house and take the help from me during the market hours).
Resistance: 5600 / 5645
Support: 5525 / 5500 
Most key Asian markets rose today, mirroring the rise on Wall Street, with gains in Japan sustaining as the yen fell close to the 100-a-dollar mark.
Dow Jones Industrial Average and S&P 500 indices hit all-time highs on Wednesday, largely ignoring minutes of the latest Federal Open Market Committee's meeting, which showed a division among members on continuing the central bank's stimulus programme.
Fundamentally speaking with positive CAD numbers in the offing and export incentives coming on 18th, the markets would continue to trade with a positive bias.  Infosys' Jan-Mar earnings and February industrial production data is next on the card.
Glodyne Tech Ltd hits another buyer freeze in the opening trade. It is locked at the Upper Circuits at Rs.15.25. If you still get the shares buy it, as it can move much higher.