Sensex had been underperforming the global scenario in last 2-3 days due to internal concerns and finally the easing of political concerns the markets saw a blow off ... Well as i had written before only way a correction could come would be a forced one but the current political scenes dont seem that powerfull....
Technical View :
Sensex has negated the bearish scenario of double top as it dint go below 17250 levels and has crosses above the new high... The current projection of the blockbuster triangle which i presented few days back and had clearly mentioned i would not like to give any nos or tgts to the current rally .. Minimum projection is placed at 19200 levels in next few months also more possible easily ...Only concern is the selective nature of the move... Ideally would like to see similar buying in mid n small caps which is possible in coming days
Torrent Power does double frm 70 hits 140 🙂 , Mercator does 85 frm 55-60 can book at 90 levels and forget some forever , Client call which were never on blog ( Adani Enterprises given at 250 and 320 does 700 + , Akruti Nirman does 800 given at 550 still holding )
Stocks to watchout for :
I continue to remain highly bullish on Construction stocks for next 3 mths or more... There is supposedly a huge re rating and fresh buying to take place in these sectors...So watchout for some good technical moves after crossing given levels ( NOTE THEM DOWN ) ...
Watchout for a crossover above 452-454 levels ...Close above those levels could tgt 500-550++ in quick time ...
Above 170-172 close would target 200 + in quick time
above 375-380 could tgt 450 +
Also watchout for nagarjuna construction , PATEL ENGG ( continue holding ) for short to medium term gains similarly
Some lines to read
Tata motors above 810 could tgt 50-100 rs upmove
Akruti Nirman all set to touch 4 figs ( Recommended to clients strongly at 550 levels still holding some ... ( never mentioned on the blog though 🙂
Ind Hume Pipes another land story and big valuations can go one side watchout try finding more
Plethico Pharma in good bull grip can it touch 600 levels in next 1 mth ???
Idea Cellular set for 150 , RPL for 180
LONG TERM MULTIBAGGER BET
Another addition to my never sell list of stocks like aptech , aban , alpha geo , educomp , NIIT etc
CORE PROJECTS and TECHNOLOGIES ( 512199 )
As it is in my favourite sector of education software ... Somehow i dint mention much on the blog yet ... Was recommended to clients at 140 levels and still a hold but given a fresh buy call at 200 with a revised tgt of 300 + .... But analyzing the announcements and the acquisitions its making in the education space i expect the stock to run beyond thoughts in next 3 mths to 2 yrs and could turn out to be a multibagger .....All u need is patience and belief in the idea... Technically can zoom if sustains above 205-210 .... Strong Accumulate and hold forever frm my side 🙂
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