Sensex Technical View:
9520-9540 holds for the day and we see a recovery ! . As was mentioned the short term trader should watch that level and the level did hold for the day.
On the short term it becomes simpler weakness below 9500 and strength above 10127. Stock specific action would continue till the range holds.
Stocks to watchout for :
Areva TnD bookout , BEML does 1st tgt , SCI and Ge ship sluggish but good to hold with small stops.
Of the investment picks we got a good start --- DCB moved up by 15-18 % in the day 19 to 22 . ( Already recommended to clients at 16 and added at 20.5 ) continue to hold and book partial profits on rise to reduce cost.
Emco hold for long term was up 13% ! FSL speculative call hold for 19.
BEML moves from 390 to 420 + does 1st tgt book out at 450 or keep trailing with rest qty.
Speculative counters for 1-2 weeks
HDIL /Ibreal/RCAP expect some 10% further moves but with volatility ...
HDIL if stays above 90 can cross 100 +. RCAP above 390 expect 410/435.
Punj LLoyd above 95, SCI above 81 and Suzlon above 47 could give 4-8 % in the day. stop of 3% .
Mcdowells or United Spirits current mkt price 684 seems to be another speculative counter which could see a smart move to 750 + if able to stay above 700 levels. Quick traders can keep a watch on this counter or next few sessions.
Large caps stocks RIL /ONGC /Bharti airtel have come close to tops equivalent to 10127. And crossing 1600 /825 / 640 could be the next indication of a possible positive support on the index !
On a cautious note we may continue to see speculative 20-30 % moves in small/midcap or stock specific moves but investors should take care in picking good funda stocks on closer to lows or if in momentum trade with strict stops as such bounce backs may also retrace back. Chasing speculative counters with no stops or trading strategies is a mistake which may committed before so take care...... Nothing bearish or bullish only disciplined way !!
INVESTMENT STOCK WITH VERY LONG TERM VIEW :
The stock is quoting around 100 and the only stock apart from Bajaj fin serve in the insurance sector. We dont have LIC listed so this stock looks good for long term with a low downside risk but upside potential could be huge 1-2-3 yrs down the line.
Long term investors who would like to keep aside a small chunk of money which they may not need for a longer period can take exposure and keep SIPPING.
Another stock in similar manner could be FORTIS health but mgmt concerns may keep the stock from overperformance so invest but keep tracking the business growth.
TECHNICAL ANALYSIS SESSION MUMBAI --- APRIL 11-12
Interested people CALL - 0981922539 Nooresh for more details/queries /confirmations and more. ( aftr mkt hours ).