Opening
Date 13th Jan 2010 Powered by Bazaaredge.com
Market Outlook
Indian equity markets after the days toil snapped five days losses to emerge victorious. On the flip side any bounce back from current levels may reap indices towards 6050-6060 level where me might see some sort of consolidations. Any break out above this may generate some suggestive buying opportunities though 6200-6230 might be next stress zone. As long as 5690 holds one should not turn negative on the market. Significant Resistance lies at 6000.
One should buy private sector large cap banking stocks for long term perspective while realty stocks look weak from short term time horizon and should be avoided.
Intraday Calls
Buy AdaniEnt cmp 619 stoploss 610 target 627
Buy Uflex cmp 193 stoploss 180 target 201
Positional Calls
Buy Polyplex cmp 325 stoploss 308 target 342
Buy TataElxsi cmp 290 stoploss 279 target 300
Technical Fundamental Calls
GRUH Finance is expected to continue with its growth momentum in disbursements and loan book.
Investment Picks
PRIL has completed the listing of Future Mall Management and has merged Home Solutions Retail India Limited (HSRIL) into itself. Company is also planning to hive off Future Capital by September 2011. However, demerger of the insurance arm is contingent on approval of Insurance Regulatory and Development Authority (IRDA)
Future & Options Strategy
Buy JainIrrigation cmp 220 stoploss 214 target 225
Sell Crompton Greaves cmp 291 stoploss 300 target 282
Buy Nifty 5900 CE cmp 70 stoploss 50 target 120
Buy Reliance 1000 PA cmp 10 stoploss 5 target 30
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