Buy with stop 64.50 EOD, target 80
31 July, 2007
29 July, 2007
Nifty
So, we finally did see the anticipated 5% decline in Nifty. All the voices that have been crying hoarse about one-way ride to higher highs all the time, have suddenly gone quiet in a single day ! So, where do we go from here ? Admittedly, the 5% correction that I had anticipated wasnt expected to come in a single day, though it was expected to be a swift one. Right now, we dont seem to be done as yet. 4350 spot nifty is a crucial level and as long as we do not break that with vols, we should be rangebound between 4350-4550 for now. However, if Nifty breaks below 4350, it would weaken further and we can go as low as 4100 ... and as mentioned earlier, as long as 4100 holds, we should remain in an uptrend.
27 July, 2007
26 July, 2007
24 July, 2007
23 July, 2007
22 July, 2007
20 July, 2007
19 July, 2007
18 July, 2007
Nifty Update
Today's price action tends to confirm the view that we have a top in place in the immediate term. Stocks got sold off, inspite of TCS results and there being no real negative cues. It was Reliance that saved the blushes for Nifty, but for which we would have seen Nifty break below 4480 for sure. It time to sit on the sidelines and wait ... as the risk reward is in favour of a decline. Only specific stocks could buck the trend ... and that too, if one is quick on the draw. IT as a sector is what seems to be the one that is showing signs of upsides ... TCS, Polaris and Infy to be specific.
17 July, 2007
15 July, 2007
14 July, 2007
13 July, 2007
12 July, 2007
11 July, 2007
10 July, 2007
09 July, 2007
08 July, 2007
Nifty Update
Nifty (and sensex) finally achieved the target given on 2nd May :) With everyone talking about 4500 effortlessly now ( I remember hearing about 3900 and lower levels being given just over a month back !), its time to reviews the near term course of Nifty. I expect 4415-4435 range to provide resistance on the upside ... and the risk-reward ratio is turning in favour of a down move from here on. Nifty might scale 4500, which is just about 3% from here ... the downside being 4200-4180 if we break below the level of 4270. In the last 6 months, there hasnt been one instance when we havent seen the Nifty shave off 125-175 points during the month and I wouldnt be betting on July breaking the trend. The results season begins next week and all eyes (and ears) are in Infyspeak. Its time to take profits off the table, in case you havent done so yet. I would be prepared for a 5% dip on Nifty, give or take a few points. Once we have seen the correction, it would be time to buy again... and as long as 4100 holds, we should remain in an uptrend.
05 July, 2007
04 July, 2007
02 July, 2007
01 July, 2007
Suzlon update
Target given on 27th May for 1565, high achieved 1555 ... has steam left to go higher !
Monthly calls update III
Agee gold ... now thats what one calls a rocket ! buy given at 28.50 with target 32-36 ... high achieved 69.95 !!
Hind Rect target given 853-900 ... high achieved 847 before it dipped to trigger stops and then zoom upward to achieve a high of 1025 !
Imp Power target given 133-144, high achieved 138.
Jaihind project target given 72, high achieved 76.40
REL target given 636-662 on close above 577 ... high achieved 617 ... call in progress.
Dabur target given 109, high achieved 105.
Forbes gokak target given 473-505, high achieved 510.
IDBI call in progress ... high achieved 119.20
JMA Inds .... another rocket ! target given 92-102, hitting upper circuits ever since it triggered ... 191 high achieved !!
Patel roadways target given 72, high achieved 73
Petron engg target given 168-178, high achieved 236 !!
Ramsarup Inds target given 169, high achieved 164.90
RK Forge stops triggered.
Patni computers ... call in progress
Hind Rect target given 853-900 ... high achieved 847 before it dipped to trigger stops and then zoom upward to achieve a high of 1025 !
Imp Power target given 133-144, high achieved 138.
Jaihind project target given 72, high achieved 76.40
REL target given 636-662 on close above 577 ... high achieved 617 ... call in progress.
Dabur target given 109, high achieved 105.
Forbes gokak target given 473-505, high achieved 510.
IDBI call in progress ... high achieved 119.20
JMA Inds .... another rocket ! target given 92-102, hitting upper circuits ever since it triggered ... 191 high achieved !!
Patel roadways target given 72, high achieved 73
Petron engg target given 168-178, high achieved 236 !!
Ramsarup Inds target given 169, high achieved 164.90
RK Forge stops triggered.
Patni computers ... call in progress
Monthly calls update II
Venky's target given 165, high achieved 154, call in progress.
Videocon Finance, stops triggered
Pritish Nandy ... stops triggered before it went on to hit 89 against target given 93.
Adani target given 289, high achieved 282, call in progress.
Aventis target given 1534, high achieved 1465, call in progress.
Baba Arts, call in progress.
Freshtrop targets given 99-108, achieved 105 ... close above 111, more upside to come :)
Kemrock target given 406, high achieved 399.
Kennametal target given 650+, achieved 674.
Schenectady call in progress.
TIL target given 259, achieved 268.85 ... call in progress for T2.
Simplex target given 77, high achieved 71.90 ... call in progress.
Hawkins target given 148, high achieved 139
Intl Combustion target given 449, high achieved 387 ... call in progress
Kirl Pneu target given 638, achieved 551 ... call in progress
Kojam target given 167, low achieved 174 ... call in progress.
Ultratech target given 881-920, high achieved 916.
Videocon Finance, stops triggered
Pritish Nandy ... stops triggered before it went on to hit 89 against target given 93.
Adani target given 289, high achieved 282, call in progress.
Aventis target given 1534, high achieved 1465, call in progress.
Baba Arts, call in progress.
Freshtrop targets given 99-108, achieved 105 ... close above 111, more upside to come :)
Kemrock target given 406, high achieved 399.
Kennametal target given 650+, achieved 674.
Schenectady call in progress.
TIL target given 259, achieved 268.85 ... call in progress for T2.
Simplex target given 77, high achieved 71.90 ... call in progress.
Hawkins target given 148, high achieved 139
Intl Combustion target given 449, high achieved 387 ... call in progress
Kirl Pneu target given 638, achieved 551 ... call in progress
Kojam target given 167, low achieved 174 ... call in progress.
Ultratech target given 881-920, high achieved 916.
Monthly calls update
HDFC target given 1910, high achieved 1916 intraday.
Rolta target given 464, high achieved 465 intraday.
Ultratech target given 856, achieved 859.60 intraday.
Ranbaxy target given 397, high achieved 401 intraday.
Chennai Petro ... we all know what it did once it broke 267, dont we ? hehehe
TCS buy above 1246 call, did not trigger.
Ind Hotel target given 150, achieved 154 intraday. Call still active for higher targets given with stops 148.
Megasoft target given 150, achieved 147.90 ... call in progress.
Prime Securities target given 79, high achieved 88.95.
Skumars target given 91-95, both achieved with a flourish.
Sasken stops triggered.
Tata Honeywell target given 2043, achieved 2174.90 ... call still in progress for higher targets of 2525.
Rolta target given 464, high achieved 465 intraday.
Ultratech target given 856, achieved 859.60 intraday.
Ranbaxy target given 397, high achieved 401 intraday.
Chennai Petro ... we all know what it did once it broke 267, dont we ? hehehe
TCS buy above 1246 call, did not trigger.
Ind Hotel target given 150, achieved 154 intraday. Call still active for higher targets given with stops 148.
Megasoft target given 150, achieved 147.90 ... call in progress.
Prime Securities target given 79, high achieved 88.95.
Skumars target given 91-95, both achieved with a flourish.
Sasken stops triggered.
Tata Honeywell target given 2043, achieved 2174.90 ... call still in progress for higher targets of 2525.
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