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.