Disastrous close to the trading week

Written by HARIKRISHNAN.T
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It was a disastrous close to the trading week. 

High selling pressure from the investors dragged the Nifty below the very Important 5400 level.
The 30-share BSE Sensex plunged 441.16 points or 2.39%, to close at 18,008.15.

50-share NSE Nifty tanked 131 points or 2.37%, to settle at 5,395.75. 

Yesterday I predicted that there will be a negative trend I did not expect such a fall.

Investment Advisor, Gul Tekchandani says that even if the downside is restricted at 5300, after budget they will get stable and once again there might be little bit of up tick from there on.

Mitesh Tacker, Technical Analyst is optimistic that the markets are likely to bounce back to 5620-5650, as long as they remain above 5400.

However, Amit Dalal, Tata investment Corp thinks that the sharp fall in the markets are due to infrastructure and credit squeeze in the system because of lack of government’s spending.

Top Losers include Mahindra and Mahindra, Kotak mahindra, Sun pharma, ITC, L&T etc.

The stock picks for next week will be published before Monday after analysing the market trends.

Regards Hari " लोका समस्ता सुखिनो भवन्तु "



SHORT COVERING HELPED INDIAN MARKET

Written by HARIKRISHNAN.T
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Short covering helped Indian market and added 359 points on Sensex at close.

It was a fantastic session for Indian equities and was a continuation of up trend for the second consecutive day after a deep cut seen in previous five days. 

Reliance Industries, Bharti, SBI, DLF, L&T and BHEL pulled the Nifty above 5500 - an important psychological level.

Yes bank and Axis bank, the 2 shares I advised to buy 2 days before showed a spectacular rise.

Tomorrow is Friday so I expect there is a negative trend in the market.

Dhanlaxmi Bank is one of the shares I prefer for tomorrow.

Today it closed Rs.7.65 up in Rs.105.75. So Buy Dhanlaxmi bank in the range 99-102 and sell in the range 105-110

If you are holding the share for at least one year, I expect 30% to 40% profit. Because it gone above Rs.200.

But do not take much risk in this condition. Sell when you get 10% to 12% profit.

The share picks for the next week will be published soon.

Regards Hari " लोका समस्ता सुखिनो भवन्तु "



PRE BUDGET PICKS

Written by HARIKRISHNAN.T
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Sensex closed 305 points below in 18022.

Nifty closed 88 below in 5417.

Do not expect a perfect bullish trend for at least 2 weeks.

I think Nifty will be in the 5300-5400 range before budget.

There are not enough 'Foreign Institutional Investor' supports looking possible as we run into the budget.

So for short time investment I prefer Yes bank and Axis bank.

Yes bank is a good fundamental company and it has a strong managerial support.

In this negative trend Yes bank closed in green today. Yesterday also the trend for yes bank was positive.
So buy yes bank in the range 260 and sell in the range 270-275.

I think a best opportunity for buying will appear before the budget. So till that do not take much risk and do not expect much profit.

Another good pick is Axis bank.

Now the share price is in the range 1250. 

Buy axis bank in the range 1250 and sell in the range 1300. In January the share price was in between 1357 and 1250.

If you are a long time investor it is the best time to buy RIL. Now it is in 890 range.

Regards Hari " लोका समस्ता सुखिनो भवन्तु "