Wednesday, April 14, 2010

Idea (Target Rs78), JSW Steel (Target Rs1,300)

omentum turns negative

  • Today, Nifty closed with meek losses after witnessing volatility throughout the day. Though, the overall bias and market breadth were in a negative mood. Auto, oil & gas exploration, banking shares kept the markets in negative territory. Taking into consideration the negative crossover of daily MACD accompanied with bullish trendline break and neckline break of head-and-shoulders pattern, we are revising our short term bias for the target of 5000-levels.


Trading Ideas

  • Remain stock specific from current levels.
  • Mid term trading ideas which we like are Idea (Target Rs78)JSW Steel (Target Rs1,300)3i Infotech (Target Rs88) andHanung (Target Rs268). Traders maintain stop loss accordingly.

Investment Ideas

  • HBL Power System (HBL): CMP @ Rs37 (Target Rs58)

 

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Safe Harbor:

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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