DAILY REPORT FOR 11 DECEMBER, 2006
NIFTY: - Open 4016 High 4047 Low 3949 Close 3962
Supp 3945/3928/3910 Res 3985/3996/4025
SENSEX: - Open 14008 High 14010 Low 13757 Close 13799
Supp 13690-13720/13570/ Res 13860/13910/13960
What happened on Friday:-
Markets opened flat, but we didn’t gain much on the index. Markets witnessed consistent selling the whole day as we didn’t recover well during the day and kept going down. FIIs have turned sellers from last 2 days (8th Dec, Provisional Figure is 204 Cr Net Selling). The sell-off was led by Zee, Tata motors, Satyam comp and Hind Lever. Exceptional gainers were Rel Energy, Dr Reddy. US Market cues are flat.
What shall we witness on Monday:-
RBI has upped the CRR rates. This move is aimed at preventing excess liquidity from fuelling overheating of the economy. Real estate prices are also rising very rapidly. So these 2 factors can affect the economy somewhat. But for gaining in the stock market, we have to buy good investment ideas and then only we will be able to reap the real benefits of the stock market.
Where’s the money:-
Itc(185):- Buy with SL of 182 and target 187/190
Bajaj Hind(255):- Buy with SL 244 and target 275-280
Catch them falling :-
This is a new section and here investment ideas will be written. These stocks can be added in panic times to your investment portfolios. Investments ideas can be for long term, medium term.
Reliance is one stock which looks good on charts and can be accumulated even if it corrects by another 50-60 rupees. This stock can give 20-25% returns in 4-5 months.
BEML is a stock which can perform in a slightly longer duration. The stock benefits a bit from the just-completed Indo-US Nuclear Deal. The stock has corrected from 1700 odd levels to below 1000 now and can give handsome returns if we look at it from investing view.