Tuesday, March 2, 2010

Spice Jet (Target Rs68), Dena Bank (Target Rs94)

Close above 5000 mark

  • After the retest of the neckline, from which the inverse H & S pattern saw a breakout, Nifty never looked back during the course of the day, flourishing northward till the final minute. The hourly and daily momentum cycles indicates that Nifty has a very high probability to heighten upto 5100, which is the conservative target of inverse H & S pattern.

Trading Ideas

  • Remain stock specific from current levels.
  • Mid term trading ideas which we like are Unitech (Target Rs80), Spice Jet (Target Rs68), Dena Bank (Target Rs94) and Voltas (Target Rs174). Traders maintain stop loss accordingly.

Investment Ideas

Jaiprakash Associates (JPA): CMP @ Rs137 (Target Rs185)

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The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.
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