Sensex Technical View :
All indices have given a good pullback and very strongly. Sensex next levels to look at are 16450 and 16800. The current pullback should take a good hit around these levels and traders should book longs around those areas and wait for dips or a good reversal above 17200.
Got lil late to update its 3 am when writing so will update more from tom....
Many of the stocks discussed for bottom fishing have bounced 10 odd % . Those who have bought can hold for 3 months or 30 % whichever comes first. Add on lower levels as indicated. Many other mid caps also bounced back sharply still lot many left ... Good insider buying and promoters increasing stake in certain stocks show confidence in the long term health of mid caps.
GAIL , HLL, Punj Lllyd and NTPC look good for a short term bounce so traders can keep watch...
After quite some time we initiated few client trades which were closed today at 15% moves .
BUY HDIL around 515-500 stop of 478 for delivery tgt of 580-650. High risk players can buy small qty now.
Bank Of India can be bought small qty at 230-240 zone for investment. IDFC on dips near to 125-135 .Investors continue to hold cash and wait for dips to buy slowly.