Market Mantra
Buy McNally Bharat Ltd (BSE Code: 532629) at Rs.121--122, T--Rs.132--134, SL--Rs.117. The company came out with good set of numbers for the Q3FY12. It is one of the finest companies in the construction and engineering space.
Relentless buying is seen in Jai Balaji Industries Ltd which is an integrated company and is one of the largest manufacturers of steel in the private sector in Eastern India. It has integrated facilities for producing steel in its eight manufacturing units spread across the states of West Bengal, Chhattisgarh, Orissa and Jharkhand in India.
The Group has a chain of value-added products which include DRI, Pig Iron, Ferro Alloys, Alloy and Mild Steel Billets, Reinforcement Steel TMT Bars, Wire Rods, Ductile Iron Pipes and Alloy and Mild Steel Heavy Rounds. It draws its strength from an old tradition of reliable customer service and quality products. It's considerable experience has propelled the Group into the league of formidable steel players in Eastern India, which has not only diversified into power generation in West Bengal and Chhattisgarh but has progressed work in allied industries like cement as well.
Prakash Industries Ltd has broken an important resistance today on the upside. The next target seems to be Rs.77-78, where some profit booking should be done.
Buy Videocon Industries Ltd at Rs.177, T--Rs.195, SL--Rs.171. The fundamental of the stocks are known to all, and this is a chart based call.
Market traded range bound yesterday. Nifty moved within a small range of 40 points for entire day. It made an intraday low of 5484 and a high of 5531, finally settling at 5522 with a nominal loss of 10 points.
The point which needs to be noted is that Nifty has closed above 5500 for two successive days. Crossing the level of 5425 after sustained trade above 5325 for seven days shows resumption of uptrend. Today, most of the time the market is above 5500, which proves the fact that we in a complete bull phase. Any dip should be used to buy shares of fundamentally good companies. The level of 5300 has become the major support level now. Bulls now have the upper hand and long positions can be continued.
The Group has a chain of value-added products which include DRI, Pig Iron, Ferro Alloys, Alloy and Mild Steel Billets, Reinforcement Steel TMT Bars, Wire Rods, Ductile Iron Pipes and Alloy and Mild Steel Heavy Rounds. It draws its strength from an old tradition of reliable customer service and quality products. It's considerable experience has propelled the Group into the league of formidable steel players in Eastern India, which has not only diversified into power generation in West Bengal and Chhattisgarh but has progressed work in allied industries like cement as well.
Prakash Industries Ltd has broken an important resistance today on the upside. The next target seems to be Rs.77-78, where some profit booking should be done.
Buy Videocon Industries Ltd at Rs.177, T--Rs.195, SL--Rs.171. The fundamental of the stocks are known to all, and this is a chart based call.
Market traded range bound yesterday. Nifty moved within a small range of 40 points for entire day. It made an intraday low of 5484 and a high of 5531, finally settling at 5522 with a nominal loss of 10 points.
The point which needs to be noted is that Nifty has closed above 5500 for two successive days. Crossing the level of 5425 after sustained trade above 5325 for seven days shows resumption of uptrend. Today, most of the time the market is above 5500, which proves the fact that we in a complete bull phase. Any dip should be used to buy shares of fundamentally good companies. The level of 5300 has become the major support level now. Bulls now have the upper hand and long positions can be continued.
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