Thursday, March 4, 2010

Mid Term Buy: Jubilant Food Works @ Rs236

Momentum sees deterioration

  • After a quite choppy session, finally Nifty ended the day on a dull note with a loss of 7 odd points on the board.  As far as the technical parameter is concerned the hurdle of 5100 is still not cleared on closing basis. Secondly, the hourly MACD has given a sell signal near 61.8% retracement area of the entire fall, so the overall sentiment still stands in the corner of the bears with 5100 and 5175 acting as a crucial hurdles going ahead. On downside 5045 is the key support below which the slide can deepen upto 4996 in the coming session.

Trading Ideas

  • Remain stock specific from current levels.
  • Mid term trading ideas which we like are Escorts (Target Rs160),Jai Corp (Target Rs290)Dena Bank (Target Rs94) and Hind Oil Expo (Target Rs282). Traders maintain stop loss accordingly.

Investment Ideas

  • Jubilant Food Works Ltd: CMP @ Rs236 (Target Rs298)

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