As mentioned in my post last week, market kissed 5000 and took a U-turn. All the banking stocks as recommended at the start of the week was on fire.. Hope you all made good profits.
Well lets look at what's stored in the market for us in coming week.
To start with road ahead would be much tougher due to short weekend & also due to September expiry. So guys be very cautious and don't trade into the market without Stoploss. Also, please strictly exit from the scripts if stop loss is breached.
Next target for nifty is 5200 before it gets into major correction, provided it does not breach the strong support which exist at 4753.
For the week ahead Nifty will face resistance at 5030-5103-5148 and support will be at 4931-4881-4783.
This week Mid-cap Infrastructure, Cement and Auto stocks will be on fire followed with Reliance Group. Market grapevines gave indication last week which could be easily seen in JP Associates, J Kumar Infra, Reliance infra, Amtek Auto, OCL India etc..
So keep a close watch on quality mid-cap stocks in these three sector.
Weekly positional calls for week starting 22Sept09
- Buy Jaiprakash Ass @ 257 SL 252 target 265 [Good position build up is seen at JPAssociates September call option strike price 450]
- Buy IVRCL Infra @379 SL 368 target 395
- Buy Rel Infra @1243 SL 1224 target 1290
- Buy Adlabs @362 SL 354 target 380
- Buy RPower @172 SL 169 target 180 [Huge position is build up in Reliance Power September call option strike price 170]
- Buy Punj Llyod @272-273 SL 266 target 285-290
- Buy Maruti @1639 SL 1614 target 1683
- Buy Grasim @2811 SL 2771 target 2855
- Buy Sesa Goa @280 SL 274 target 290-300
- Buy Escorts @92 SL 88 target 99
Options calls
No option calls as we are near the expiry and don't want to take a risk.
Short term calls
Buy IDBI and IDFC for 20 percent appreciation from here in short term.
Happy trading! Enjoy
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