Sunday, January 10, 2010

Trading Ideas: Maytas Infra (Target 200), Suzlon (Target Rs. 108), ENIL (Target Rs. 260)

Nifty continued to maintain its winning streak for the third consecutive session with gains of 50 odd points on w-o-w basis. Going further, the last two days of negative mood of index should not be taken as worrisome signal because Nifty is just consolidating within an ongoing bullish flag, whose upside breakout is expected in the coming week.  Moreover, Nifty is resting at the key support of 50-HEMA nailed at 5229 and the chances of it bouncing northward from thereon is very high. Also, the momentum cycle which is holding its bullish crossover is still giving bullish signal. So the current pause in the ongoing rally should not be taken as a sign of exhaustion.

Trading Ideas

  • Mid term trading ideas which we like are Maytas Infra (Target 200)Suzlon (Target Rs. 108)ENIL (Target Rs. 260) and JP Associates (Target Rs. 181). Traders maintain stop loss accordingly.

Investment Ideas

  • Rallis India: CMP@ Rs. 1,016 (Target Rs. 1,153)
  • Arshiya International Limited: CMP @ Rs. 186 (Target Rs. 230)

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