As usual market players believe in post mortem and now sending me SMS and emails in tons congratulating the bull call. It is not my victory. It is the efforts of Cni team and your support which led to this kind of performance.
Cni subscribers finally have a good run but what about the general traders…? We produced calls like DCHL, Dish, Voltas, DLF, Unitech, HDIL, IB Realty, Welspun, Century, B Dyeing, Essar Oil and Hind Oil all have sparked from 20 to 60 pc in less than 1 months which is more than sufficient to wipe of the losses in the past. But the other punter who are entering market with the tide are still not able to make big bucks as they still lack confidence and their entry is at the top as usual.
When we set 3100 Nifty target we were counted in idiots. Does not matter because we were too wrong like all other long side strategists. We then set next target of 3300 which seems to be happening very soon. Off course, today’s rally was bit stretched due to huge short sell and lack of confidence and it could have been really better it could have closed at 3150 or 3160 band.
Monday again the next target may hot to open with and if the bears still do not cut their short then market will test 3700 in a very hostile manner as bulls are in real hurry to recover the lost grounds. As per our research team the target of Sensex come to around 14700 which is based on fundamentals and the period could be six months to 12 months.
DLF was picked up by CNI at 130 which has now become Rs 208 and it still set to travel towards Rs 275 to 300 band before the merger news comes out and one man army is in full control of the counter like Educom. Where those guys who were ready to take Educom to Rs 500…? Well I know they are hiding now and no face to come forward and claim that they too have gone wrong. Now take it from us the same man will take R Power to Rs 200 plus and all other ADAG gr stocks to new levels. Some FII were comfortable buying REL at 2600 now shying away from ADAG gr will be back in action and will be compelled to buy all ADAG gr shares for sure. R com set to cross Rs 1000 before Dec 2009. The trouble likes in this counter till Rs 560 thereafter this will happen in just 2 months.
It is high time to shift your gear to B gr which I had been telling from time to time. Entire April will give you good returns in B gr shares. J K Cement, Jeyswal, Assam, MSP all have recovered by 30% from their low. Search for other stocks like CCL, VIP, SS Duncan etc they will also give you at least 30% return in one month. The higher the market rise the discomfort will also rise in F & O trading as the risk element increases. You need a specialist to take care of your requirements in F& O as well as cash and there is no better option than Cni.
There is no a single agency in India which have specialty is mid cap and small cap research yet the strike rate in F & O calls above 70% on average. It is only cni which has this credit. End of the day our job is to find out a stock where action and momentum is gathering and not to give any assured returns.
A detail view of Nifty has been presented in the chart using Retracement (please ref to the chart attached)
Nifty has given a breakout of the resistance line which was formed from high of 6200 in Jan 07. Today Nifty has managed to open with a gap above this line and sustained. For a rally to start from this level and to take fresh positions it would be safer if we wait and watch if this sustains above 3140 for 2-3 days.
The immediate target for this pull back is at 3230 which is the first target as per the retracement levels. Above this we can expect 3832, 4313 and 4795. 4313 being 50% of the retracement is a good level to watch out for.
Profit booking at 3230 would be crucial and sustaining above that would be necessary for the rally to continue. It may not be as quick and will test every traders patience.
Incase nifty closes below 3080 for few days, markets will go back into a bearish phase with the previous targets of 2500 and 2200.
Finally if the rally continues one can also expect 5500 levels in Nifty. Not to forget Technical analysis is about possibilitites and 5500 is a possibility and not certain.
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