On daily charts Nifty has created 4 Gap ups in recent 2 weeks,it could be considers as very optimistic situation in the market, remain very very cautious as nifty has already filled 1st gap, try to avoid positional long or trade with very strict stop loss, fo short term nifty supposr exist at 6220-6210 then 6170,then 6055 and finally 5950, Market sustaining on the higher levels will heavyly depend on heavyweights like Reliance Inds, which stands at very very crucial levels,if it can manage to close above 1120 then we will see another 15-20% rally in the counter in short term,but failing to do so will invite selling presure in the heavyweight and in the market.
Trading Calls:
Hindalco ( cmp 231.25) : sell below 229 for target 225 with stop loss of 231
India Cement ( ) : short term traders buy at 122 levels target 135-140 stop loss 117, medium to long term traders must add this to their portfolios now as it will give 100% + returns in next 12 months
JP Associates cmp ( cmp 139.30) : Buy in the range 136-137 with stop loss of 132.5 and target of 150 in short term.
Maruti ( cmp 1498) : Buy at cmp-1490 , with stop loss of 1478 and target of 1660 in the short term. Medium term traders can add this stock with final stop loss below 1445.
Power Grid: You can consider taking covered put in this( selling future and selling put) , as FPO is coming in this counter and historically prices remains sideways to down during this period
BHEL (cmp 2529) : buy at cmp-2515 with stop loss of 2474 and target of 2650.
High Risk traders can also consider buying in Punj lloyd ( cmp 130.95 ) in the range 128 with sl 124 and target of 140-155.
Rel Infra ( cmp 1066.35) buy at cmp-1063 with target of 1085 and stop loss of 1054.
Feel free to post your comments on this.
Happy Trading :)
Rgds
NiftyFiftyStocks.com
Happy Trading :)
Rgds
NiftyFiftyStocks.com
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