ABB does tgt of 410 and still strong and some more possible , Siemesn does 260 still strong, Reliance Inds shoots above 1410 to 1575 , BHEL chart posted yest comes closer to 1600. Of the mid caps Lanco and IVRCL shooted 10-15% in the day , Praj Orbit corp and GNFC still look good.
The stock seems to be in a small breakout move above 51-52 which could tgt 58 zones. Chart posted 2-3 days back.
HDFC , Infosys , Reliance have come closer to their 200 dema levels and may get some selling pressure around 1700 / 1420 / 1620 levels for the near term. Profit booking advise and traders can look for reversal signals for small short trades from these zones.
Larsen And Toubro
This large cap has not contributed much to the move and can touch 700 levels in coming days if holds up above 650.
Punj Lloyd , JSW steel are two stocks which have not moved much and traders can keep a watch if mkts remain positive.
Market Observations and Thoughts :
Akruti squeeze now comes to a logical end at 700 zones and some more dip may come. This move might have trapped some retailers who speculated in the day and given bumper gains to some other. Will prefer not to waste more time analyzing wat happened ( promoters hiked stake officially as per bse and wat not ).
After a long time a 20% upmove on index has not given a pleasant surprise but a shocker to the market-men as the pre-dominant consensus was bearish( even i was surprised by the magnitude but we switched sides on stops and longs above 9250-9300) . Lot many traders have been stuck on short side and this added fuel to the small short squeeze it seems.
The markets are bound to surprise and only way surprises wont turn to shocks is through good discipline /money management /low leverage / No huge derivative positions and this is what i have been advocating for the past few years. Be short or be long just remember be disciplined and comfortable or market knows better ways to shock us.
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