Excepts of my mid-market inputs to the Paid Group Members: Inability to break 5475 (Nifty_Spot) and a rise above 5615 has turned the market trend upwards. Nifty has re-entered the zone above 200 DMA. Shares from almost all sectors are participating in the up move setting an immediate target of 5850 for Nifty. It seems that intermediate correction started in February has come to an end and uptrend is likely to get resumed. The traders are suggested to hold on to their longs with a Nifty_Spot target of 5850. Nifty_Spot is now trading around 5700 (at the time of sending the report to the Paid Members). Fundamentally speaking, today, the market is expected to continue to trade strong, after a lot of positive macro--economic factors gave the bulls the necessary bulwark, like lowering of trade deficit, increase of exports, lowering of imports, falling of crude oil price, falling of inflation trajectory, and so on. .
Today, the stock of Kingfisher Airlines Ltd is doing well and hit the upper circuits in the morning trade before cooling down a bit. There were media reports that: "Kingfisher management sources claimed to have got a nod from the Director General of Civil Aviation (DGCA) to go ahead with its pilot training programme ahead of the airline's re-launch". CLICK HERE. Also, a fall in the crude price is positive for the aviation sector, as the ATF prices will come down. The stock should slowly move towards Rs.14-15, in the coming days. Today it is moving up with good volume; already 26, 59,699 (more than 2.6 million) shares have been traded in the BSE. CMP: Rs.6.95.
In the media space, while Reliance Mediaworks Ltd (CMP: Rs.50) is up more than 1%, the other ADA Group comcpany Reliance Broadcast Network Ltd is trading flat at Rs.26.35. Both the scrips should be purchased, as a sea change is expected to take place, post the completion of the 2nd phase of digitization.