The optimism being seen is for the same govt which has undertaken farm waiver loans and thus to expect something from the blue will be being too optimist. However since now govt is not dependent on Left and thus a rerating will be seen in India with FII inflows of over $4-5 billion. However as a word of caution that bulls make money in bullish market and bears make money in a bearish market and pigs gets slaughtered. Thus as a retail investor exercise caution. As an advise book partial profits in the market. Another interesting observation in today trading is that today rally was broadbased less Reliance which did not participate in the rally. Nifty has a final target of 4550 with reversal placed at 3950 for the short term and 3700 for the medium term. One will see 4331 as pivot for Nifty. Sensex has support at 13800 with resistance at 14452-16046. Nifty has support at 4150 with resistance at 4650-4775. Globally ABN AMRO unveils plans for job and cost cuts.
Brokers Hope from Govt
One can only hope that present broking community is likely to see the issue of securities transaction tax (STT) being addressed by present UPA govt.
Profit from Intraday Trading
As advised Adlabs hit a high of Rs 306, Hindalco achieved high of Rs 86.45 and Praj Industries achieved high of Rs 99.8. Thus in these three recommended trades day traders would have had minted money despite it being an investment.
Commodity Tip: Crude Oil
Crude oil has a a short retracement level at $55 and the advance for crude can be till $65. However a word of caution is that up-trend is weakening. One can learn one fact from rising crude prices is that it warns of inflationary pressure. Crude is hovering at $59.5 per barrel.
Indian Stock Market Tips
Buy Punj LLyod>162.1,168.8,178 sl 157.7
Buy Suzlon>91.1,95,98.8 sl 87.8
Buy NTPC>207.1,209.9,212 sl 203.8
Buy HCC>88.1,89.8,92,95 sl 83.5
Sell Reliance<2198.8,2150,2125 sl 2211
NSE strong future Shares
Aban, HDIL, India Info, Patel Eng, HTMT Global, Yes Bank, Rel Capital, DLF, IVRCL Infra & Central Bank.
NSE Weak Future Stocks
Glaxo,Sterlin Bio, Hind Uni Lvr,Cipla,ITC, GT Off Shore, Tata Tea, IOCV & Infoysy Tech.
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