29th NOV 2010

Hello Readers !!

Today Nifty showed good recovery form the low level and up move sustained towards closing of the market.
In these market you can adopt strategy sell on rise and hedge nifty between 5700 to 5900 levels , As a Trader be Short on Nifty till close above 5900 level .
You can have Strategy such as sell nifty at current levels for tgt of 5800 -5750 levels and hedge it with call of 5900 NOV futures that will be best bet in the market.

For Investor i can say it is a discount sale which is available in Nifty so be Bullish on Market and Buy on Dips !!

Investment Ideas for Month :-
1. J P associates @ 104 for tgt of 140 as it has had betting with no fundamental changes so bullish on it.

2. Suzlon @ 44 levels for short term tgt of 52-55

3. Pipava Shipyards @ 70 for Tgt of 85

4. Cain India @ 292 for Tgt of 350

Many more to come !!!

Thanks & Regards

Dev Purohit

Selling Pressure

27 November 2010
When Nifty Broken Important Support Of 5930, that Time I Predict That Nifty Comes 5700-5720 And On 26 November 2010 Nifty Once Trade Below 5700 Level, Closing Below 5800 Is Still Indicate Negativity On Market, Once Nifty Cross & Close Above 5815 Levels Then Nifty Can Touch Upper Target Of 5930 In Coming Week, And Close Above 5930 Can Bring Bulls Back In Indian Market Once Again, Nifty Fall On Some Scams & Bribery Case & OfCourse On Korea War News.

Technically Close Below 5800-5820 For Two Consecutive Session In Nifty Then Nifty Can Slide Till 5450-5500 In Very NearTerm,
But Some Big Bulls & Punters Of Market Says Correction Is Near By Over & They Start Buying At 5700 Levels On Friday & Once They Successfully Bring Nifty At 5820 Level Also, As Per Bulls & Punters News They Again Says That Nifty 6200+ Level In Max. Couple Of Months.

Thanks & Regards

Dev Purohit

Market Looks Strong !!

The Nifty has shown the support around 5900 levels and give bounce back to 6300 levels.
I expect nifty to move further and make new all time high around 6400-6500 levels .
Strength will be provided by Oil and gas sector and Realty look much better at these valuation.
My pick for month will be
1. DLF for TGT of 390-400 as result will be out these week ,
we expect profit of 450 cr v/s 412 crs QoQ basis.

2. Reliance also look attractive at these Valuation discounting the revenue base and improvement in the cure price will make gross refinery margin attractive , near to year end curd can touch 100 $ level.
Gas discovery and other business make it best buy
RIL with TGT 1400 .

Regards
Dev Purohit