Walk, Do Not Run

Dear Friends,

                                                                                                                 

As expected and written in last article market has moved in upward direction. It seems that Nifty has taken 'Temporary' support at 5867 and moved in upward direction, may be because of 'Short Covering' (to great extent) and some fresh buying at lower levels.Nifty's closing above 6000 is significant but not to the extent so as to create' long-term' long positions, for either positional or investment buying Nifty has to close above 6055/ 6115 resistance levels in coming days and run 'Side Ways' for some trading sessions. 

As nifty has closed above 6000 it will test both the levels mentioned above, during this you can have day trades or short term long trades.

In SECTORS WHICH HAVE CORRECTED IN LAST FALL, like Banks, Textile, Auto etc., bank- Index has not crossed its previous top, so be careful. Except  UCO Bank as it is one of the strongest PSU Bank. It has formed all time top and has entered in 'Uncharted Territory'. One can buy it with a stop loss of 138 for a target of 168.

Please do not take long term positions till specific levels are crossed. This may prove to be 'DEAD CAT BOUNCE'. So, do not 'Run Ahead' of markets but 'Walk With' the market trend. 

Watch for short term bounces in some of the stocks like:

Textile:

Arvind

Alok

Himatsingka

Suryalata Spinning

Raymond

Aviation:

Jet

Kingfisher

Capital Goods & Enginering:

Action

Elecon

SPIC

TILAKNAGAR IND

FOR PRIMARY MARKET LOVERS

Consider applying for: ‘CLARIS Life Sciences’ IPO. It is a major player in Inject able pharma product; specially in ONCOLOGY (Cancer Drugs) and Anesthesia products. It has presence in number of geographies and large number of specialty products out of patents.

SPECIAL ADVICE:

1) Do not create positions in First 20 minutes after opening of the markets ‘Just Watch’.

2) Keep tracking $ Index and Rs/$ movement regularly, as both affect equity markets to great extent.

Happy Investing

Invest for CAPITAL creation and not for PROFITS only'

DISCLAIMER: I might have personal interest in stocks advised, I might go totally wrong in predicting the markets so you are advised to invest on your own perception and responsibility.