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Wednesday, August 28, 2013

AFTER MARKET OPENING CHART CHECK
Photo, Courtesy: Faking News
In an extremely bearish move following the passing of the FSB, the Nifty, it fell down to 5274 and closed with a huge loss of 189 points. A gap down opening was followed by sustained selling till end, with no respite, with a total absence of any intra-day upward correction.
Market is in confirmed down trend and scary target of 4800-4900 are talked about in sundry analyst circles. Shares are making new lows every day and even BLUE CHIPS are now spared. Rallies are  generally short lived and get exhausted quickly. The pace of fall is much higher than rise the rise.  3-4 days of rally had been corrected by single day of fall. Much of the fall is due to self-inflicted pain created by our "Tughlak-ian" UPA Government and its anti--people policies. The main opposition BJP only gave Lip-opposition to the FSB (Ironically called, "Vote Security Bill"), which clearly indicates, what each political entity, ultimately espouses, internally--much of what we see outside is only their masks. However, the voters have to choose the lesser evil among them. In such a scenario it is puerile to take long positions in Nifty_Futures, except playing on the range 5120--5165. What the investors/traders can do now, is to go for staggered buying in some of blue chips, like BHEL (Rs.107-108), L & T (Rs.686-687), B F Utilities Ltd (Rs.120), VIP Industries Ltd (Rs.46-47), etc.
Resistance: 5220 / 5250
Support: 5150 / 5110.
MCX Ltd hit another buyer freeze in the opening trade. The scrip was recommended last week at Rs.255-256 and Rs.271-275, when it came out of the circuits.
Manappuram Finance Ltd today touched the first target of Rs.17 (touched Rs.17.73) and is now going for usual correction. The investors/ traders who have purchased earlier should book profits.
Today's call: Buy VIP Industries Ltd at Rs.46-47, for a price target of Rs.52-57-62, SL--Rs.41. VIP Industries has reported a standalone sales turnover of Rs.326.90 crore and a net profit of Rs.23.00 crore for the quarter ended June '13. Other income for the quarter was Rs.0.60 crore. For the quarter ended June 2012 the standalone sales turnover was Rs.302.60 crore and net profit was Rs.23.50 crore, and other income Rs.0.30 crore. Please use stop losses strictly, because in this market, one never knows where a scrip can go on the downside. VIP Industries is engaged in manufacturing of moulded luggage (from high-density polyethylene), soft luggage (from nylon, polyester, jupolene, printed polyester) and ABS luggage (from acrylonitrile butadiene styrene plastic) including briefcases, suitcases, handbags, carry bags and vanity cases. VIP Industries, Asia’s No. 1 luggage manufacturer, had earlier announced the appointment of McCann Erickson as its creative agency for VIP brand. The company also said that it is currently scouting for a creative partner for its Skybags brand. The business has moved both its brands, VIP and Skybags, from its incumbent agency, Ogilvy & Mather. Established in 1971, VIP Industries sells nearly five million pieces of luggage a year. The state-of-the-art VIP Design Lab is credited with multiple international patents and design registrations. The company’s latest launch, VIP Verve, is a stylish, lightweight polycarbonate luggage, and was awarded the prestigious ‘Product of the Year’ Award for 2011-12. CLICK HERE.
Those who are holding Manappuram Finance Ltd at around Rs.14-80-15, are suggested to book profits and wait for the scrip to cross the bottle-neck area of Rs.17.70-17.80.