WINNING STROKES: THINK DIFFERENT

Yes, it was another good day for the bulls as the Nifty made a new record high, after it broke out of trading range with buying across segments. The Nifty managed to close above 10,200 mark after two and a half months. The rally in the market is likely to continue till the Deepawali, following which the much anticipated correction could occur. However, the causes of worry is that the stock of RIL closed flat at Rs.875.20. Shilpi Cable Technologies Ltd (Rs.17.70) was locked in the UCs till the end the day. You should accumulate the scrip on intra-day dips.

Idea Cellular Ltd recommended in this blog today at around Rs.81, soared to Rs.83.55 today. The stock is moving towards Rs.87-91. 

Energy Development Ltd (Rs.21.05) today broke a major support level. If Rs.21, does not hold, then the stock could test the intermediate low made at the beginning of this month.

HDIL today closed flat at Rs.55.70. I am expecting the stock to give a break out above Rs.57.50 very soon. The company has a good project pipeline, land bank and execution skills; though its balance sheet  is slightly leveraged. Moreover, the anemic flow of credit to the real estate sector is likely to ease as the Deepawali is approaching. However, the companies in the sector are battling a fall in sales due to economic slowdown, following demonetization. One encouraging point is that: in March this year, Godman Sachs Singapore Pte, bought 28 lakh shares of Housing Development & Infrastructure Ltd (HDIL) at an average price of Rs.83.90.

Future Enterprises Ltd today closed at Rs.50.45. After a sell call at Rs.54-55, the stock could never cross this range. If Rs.50 is broken on a closing basis, the stock could test its recently made low. 

I will recommend as small  cap to the Premium Group soon. If anyone is interested, they can either subscribe to my Paid Service or they can trade through BMA Wealth Creators Ltd, one of the largest brokerage houses in the eastern India, with a minimum portfolio size of Rs.1 lakh.