Market moves up due to short covering in market lead by major indies.
Nifty strategy in current market would be bullish as we have seen smart recovery in Nifty closing above 100 points . Close all the short position.
Nifty will seems bullish if it closes above 6020 levels fresh long could be initiated in the Nifty. You can make the Long Straddle to maximize the gains. Nifty has shows the short term uptrend . Nifty has to remain above the 5850 levels to continue the uptrend .Market could remain range bound 5800 to 6100.
Top Picks For 2nd Dec 2010
1. VIP Industries Ltd.
Buy at 640 SL @ 635 TGT 660
2. BEL
Positional Buy above 1730 SL 1680 TGT 1820
3. IndusInd Bank Ltd
Buy at 300 levels SL 298 TGT 310/ 340
Thanks to Krishna Loya for sharing comments on market.
Previous Recommendations Result
1. J P Associates given @ 102 currently at @ 115
2. Suzlon Energy @ 44 currently @ 51
3. Cain India @ 290 currently @ 320
4. Pipava Shipyards @ 70 currently @ 77
More than 10 % returns in 2 days !
Thanks & Regrads
Dev Purohit
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