Nifty holding above 5200 levels indicates a strong rally ahead with small correction to the extent of 5170 levels and if holds these level then the rally to continue further in the coming days.
Ahead of the Q3 result and before the budget nifty can test 5500 thereafter based on the outcome of the budget market to take mew direction.
For the year 2010 nifty to trade in the range 4400-6100 levels.
For today nifty to trade in the range 5210-5310 levels and technically nifty to take support at 5230/5210/5180 and resistance at 5270/5300/5320.
One has to be cautious at higher levels in the large cap stocks and selected mid cap to perform well especially stocks in the power space, Agro chem. Space, cement space and consumer durables and mid cap IT space.
Power stocks and Agro chem stocks can be bought with a short-term view and o the other hand cement stocks, Consumer durables stocks and IT stocks can be bought with a long-term view.
IN POWER SPACE FOLLOWING STCOKS CAN BE BOUGHT.
NTPC, ADANI POWER, NHPC, JPHYDRO
IN AGRO CHEM THE FOLLOWING STOCKS CAN BE BOUGHT.
INSECTICIDE, BAYER CORP., SABERO
IN THE CEMENT SPACE THE FOLLOWING STOCKS CAN BE BOUGHT.
PRISM, INDIA CEMENT, MADRAS CEMENT
IN THE MID CAP IT THE FOLLOWING STOCKS CAN BE BOUGHT.
FSL, 3IINFO, SUBEX, NIIT TECH
All the stocks recommended can be bought on dips from the current levels.
Have a nice trading year.
BSE, NSE Stock Ticker, India
Monday, January 4, 2010
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