MARKET MANTRA:
Refex Refrigerants Ltd hits the buyer freeze in the morning trade, before cooling down a bit. This is the 2nd consecutive buyer freeze after my recommendation yesterday around Rs.23.40. Today Buy Reliance Industries Ltd at Rs.860, T--Rs.900, SL--Rs.850.
Those who have still not taken position in Country Club India Ltd (CMP--Rs.10.96) should buy in Bulk for a target of Rs.17-18. This industry has a solid business model and the company recently announced that it is coming up with a Rs.300 Cr expansion plan going forward.
Those who have still not taken position in Allied Digital Services Ltd can buy the scrip at the CMP of Rs.47.20--47.50, for a target of Rs.75 in the short term. The company will come up with results at the end of this month.
Another interesting thing which I noticed in the scrip of Cals Ltd is that it has crossed an important resistance level and is looking to move up. Today also it is trading at around Re.0.48. Those who are holding the scrip should consider the next target to be, Re.66, where you can book profits.
Those who have still not taken position in Allied Digital Services Ltd can buy the scrip at the CMP of Rs.47.20--47.50, for a target of Rs.75 in the short term. The company will come up with results at the end of this month.
Another interesting thing which I noticed in the scrip of Cals Ltd is that it has crossed an important resistance level and is looking to move up. Today also it is trading at around Re.0.48. Those who are holding the scrip should consider the next target to be, Re.66, where you can book profits.
The market took a pause in the downward journey yesterday, after opening gap up. It was followed by an narrow range bound move of 15 points almost at the end of the day. However, last hour rally took Nifty to 5596 giving a close at 5585 with a gain of 59 points.
Range bound market can be expected today. However, shares may outperform at their individual capability. The Nifty level of 5500--5491 seems providing short term support. Hence, Nifty may witness volatile move between 5500 and 5700, unless breaks either side.
Now considering yesterday's bomb blast in Bombay, the markets might have some initial negative bias, which will get eased out at the latter part of the session. Hence any dip can be used to buy shares. The Next Target for Nifty is 5630, and therefore we can buy Nifty futures with the above mentioned target.
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