Winning Strokes

The BSE Sensex closed at 59,537.07 up a whopping 1,564.45 points (+2.70%), while the Nifty ended the day at 17,759.30 up a massive 446.40 points (+2.58%).The Nifty had already reached my target of 17500.

The Nifty will next try to cross 18000 which it failed last time. In absence of not much negativity, this is achievable, by next week.

Yesterday Dow Jones closed at 31,510.43 down 280.44 points. However, the markets are likely to trade volatile with a bullish bias. Buy good scrips at reasonable valuations during market dips.

#I have taken some shares of Dharani Sugars and Chemicals Ltd (Rs.11.20) and Bajaj Hindustan Sugars Ltd (Rs.10), for those who accounts I manage. The reason behind this move are:

🔵The festive season has approached with the Ganapati Festival which generally escalates the demand for sugar.

🔵The finance minister, Nirmala Sitharaman had announced, to levy additional excise duty of Rs.2 per litre on unblended fuel. The tax shall be applicable from October 1, 2022. 

The government's initiative was aimed at reducing the overall oil import by blending ethanol in the fuel. This move is likely to encourage ethanol blending of fuel and may have direct positive impact on the sugar companies.  

Ethanol is a byproduct of sugar manufacturing, and the government has planned to blend as much as 20%, ethanol in fuel by 2025.

Buy sugar counters and hold them for one month.

#Buy Zomato Ltd at Rs.62.20. The ensuring Festival season is good for restaurant and sugar stocks. 

#Those who are holding Reliance Power Ltd (Rs.18.40), kindly book some profits and hold the rest with a SL of Rs.17.40.

#Those who are holding the shares of Vodafone Idea Ltd (Rs.9.05), may continue to add on declines. ,

#Buy the shares of BSE Ltd at Rs.654, T: Rs.696/771. SL: Rs.646.

Any buoyancy in stock market is positive for stock exchanges. Whether it is bull 🐂 or 🐻 market, stock exchanges continue to earn.

The price of the share of MCX is ~Rs.1288, while the price of the share of BSE Ltd is only Rs.652. Now tell me which one carries more halo, MCX Ltd or BSE Ltd? Hence, I strongly feel that at the current price the share of BSE Ltd is undervalued.

#Nitin Spinners Ltd (Rs.226.65) continues to do well. Now raise the SL to Rs.221.

#The stock of RTN Power Ltd (Rs.4.10) hit the buyers freeze today. Once Rs.4.20/4.30 range is crossed we could see new 52 - week high.