05.05.2008

morning thoughts..

The markets continued to show strength and inched towards the targets mentioned.
Technically the structure of the markets are still up and should move up , but with bouts of volatility.
Logically the sensex should move upto 17900 levels and the nifty to 5390 levels where it is likely to face resistance.
However on the hourly charts and on 20 DEMA the indices looks a bit over stretched and could see some volatility going forward.
So one can witness bouts of volatility in the coming sessions.
The strategy will be to remain long keeping in mind the support levels and resistances.
The supports for the nifty is at 5195 levels and resistance at 5390 levels
The supports for the sensex is at 17390 levels and resistance at 17700 levels


Stocks to watch

Srei infra

Hdil

Indusind bank

Everonn systems


Positional calls

D – the stock has made a double bottom on daily charts indicating a upmove in the coming sessions . Buy at cmp for targets of 65 in 4- 5 days

Dcb – with the banking stocks outperforming the markets , the stock is likely to target 125 in near term . Buy at cmp for targets of 125 in short term

Mundhra port – last weeks call achieved targets in the week


Delivery calls

E – the counter has broken out from a consolidation phase indicating a fresh buy . Buy at cmp for targets of 270 in extreme short term

Ghcl - given last week at 87 rose by 10 rs and made a high of 98 on friday

Our multibagger calls by R and G continues to inch towards our 500 % growth , already risen 40 %


FRIDAY’S CALL SENT TO CLIENTS VIA NEWSLETTER AND ON SMS

3i infitech – keep a sl at 127 and buy for targets 137 ( newsletter call),went high 136.90

Satyam - Buy above 484 SL 479 tgt 495 ( 9.56 am) ,went high 50

Bpcl - above 410 SL 407 tgt 425 (9.57 am) ,went high 420

Bartronics India - keep a sl at 218 and buy for targets 233 ( newsletter call) ,went high 234.80

Ioc - buy above 475 SL 465 tgt 490 (9.59 am) ,went high 487.70

Mahindra lifespace – keep a sl at 525 and buy for targets 548 ( newsletter call ) ,went high 569

Gail - Buy @ 445 SL 437 tgt 451 (10.23 am) ,went high 450.60

Praj Ind - Buy @ 211 SL 206 tgt 218 (10.32 am) went high 216.75,then SL Triggerred

Kotak Bank - Buy @ 814 SL 800 tgt 830 (10.53 am) ,went high 834.95

IBRealest - buy@ 553 SL 545 tgt 565 (1.08 pm) ,went high 581.95