Winning Strokes: Think Different:

Energy Development Ltd is on fire today, after my write up on this blog yesterday. The company yesterday informed that the Company has been awarded contract valued approx Rs.31.00 crore approx for construction / replacement of bridges by Government of Tripura. The contract is to be completed within a period of 2 years.

Sanguine Media Services Ltd is on fire after the news of restructuring came out. There are some good news coming for the company in the next few quarters.

Buy Hilton Metal and Forging Ltd (BSE Code: 532847) at the CMP of Rs.24.75--Rs.25 for a target of Rs.32--35, in the next 3 months time frame. Hilton Metal and Forging Ltd will convene the extra ordinary General Meeting on May 07, 2010 inter alia to consider and to pass special resolution under Section 149(2A) of the Companies Act, 1956 for commencement of new business. 

Buy Jai Corp Ltd at the CMP of Rs.282 for a target of Rs.350 in the next 30 days time frame. 

We have be observing that in case of Nifty, the level of 5300 acted as a strong support during the last few days. Moreover, it also covered 80% of losses made on last Thursday. The recovery was broad based with Advancing shares outpacing declining with a gaping magain.
This rally which is looking very strong now is expected to continue for some more time. Any breach of the next resistance level of 5400-5440 in case of Nifty may take it to further higher levels.
Thus investors are suggested to keep using the dips to add LONGS till Nifty trades above 5300. The short and medium term outlook of the market is still very strong even though 5400--5440 looks to be a tough peak to conquer. The steel stocks looks very strong in the current scenario. 

Note: I am still out of station and will take some more time to reach my place of work.