Traders: Book Gains On Rise

Most of the trading calls reached both their targets as on May 18th and 19th. However, most of the targets were reached on the back of positive surprise on the Political front which was welcomed by the markets with both the hands.

My Blog Post dated April 24, 2009 titled as "Nifty Outlook & Trading Ideas for Next 15 Sessions":

CRUCIAL 200 DMA RESISTANCE:
Now, markets shall take a breather for some time around current levels or within a narrow Nifty range of 200-300 points lower from here as a pull back approach. Then again, markets are likely to re-test Nifty 3450 (for 1 or 2 times) to check its resistance strength. If in final analysis, markets succeed in crossing crucial Nifty 3450 level, we may well be in for a surprise rally towards Nifty 3850-4250. These ultimate targets of Nifty 3850-4250 may well be the highest point of current bear market rally, if we succeed to cross over 3500.

Nifty Traders: Traders can go Long on Nifty in around 3450-3500 range (preferably above 3500 closing) with upside Targets of 3850-4250 & observe a Strict Stop Loss of Nifty 3300 levels. Please note that the Stop Loss to be observed on Closing basis.

Trading Ideas for Upcoming 15 sessions:

1) IDFC: This company from NBFC space has run up smartly from Rs.60 to reach Rs.75-78 range. If IDFC manages to conquer Rs.82 levels as a weekly close, it will graduate swiftly to its next target of Rs.95-109 in a quick period of time on the back of break-out on the upside. CMP Rs.75.
2) BHEL: Heavy Engineering major BHEL can be bought around Rs.1550-1630 with a Target of 1800-1950. Strict Stop Loss of 1500 is a must for trading in this Power Equipment major. CMP Rs.1639.
3) Videocon Industries: Buy Videocn in the range of Rs.105-120 with a quick target of Rs.150-160 with in few sessions. Strict Stop loss for this diversified conglomerate should be placed at Rs.90. CMP Rs.122.
4) Power Finance Corporation: If this Power Finance company sustains above Rs.160 for 2 consecutive days it will witness a break out for Targets of Rs.185-195. Stop loss for this stock can be observed around Rs.140-145. CMP Rs.157.
5) Power Grid Corporation: Power Transmission major PGCIL would witness a break out if it manages to sustain above Rs.105 for next week closing. The stock can later on soar to Rs.120-130 without much patience. Stop Loss Rs.90. CMP Rs.100.
6) L&T: This E&C giant is most likely to cross Rs.1000 & touch Rs.1050-1100 if Nifty manages to sustain above 3500 for next week.The stock will lead the rally along with other heavy weights to prop up the markets from here.

To Read full posting in detail, click below:
Nifty Outlook & Trading Ideas for Next 15 Sessions

Except for Videocon Industries all other stocks have touched its 1st and 2nd Targets on the 15th Session since the posting was made on this blog. Power Grid has just reached near to its 1st target at Rs.118/- as I am publishing this post over here. My suggestion to the Traders who took calls on these calls should book 60-70% gains today itself and cut their risk for their trading bets. However, with the remaining 30-40% held they can ride the ongoing momentum for a bit longer as the trend has turned ultra-positive in very near-term horizon.

In my posting dated May 08, 2009, Trading targets for Suzlon and HCC have also been achieved.

Note: The above posting is only for Traders who took calls based on above recommendations. A separate posting will be sent directed towards Investors and how to approach markets at a later date. Do not confuse this posting with Investment ideas. Right now, even i am reviewing market position and its nature of behaviour.

Remember, in Times of Uncertainty & Indecisiveness…
Strategy for Investment

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