Morning Bells (13 Jan 14)

Morning Bells (13 Jan 14)

Good Morning Friends.

If you fail to achieve your dreams then change your ways not principles. Tree changes leave not roots.

Nothing new to say here, now its confirmed that Nifty is failed to sustain at higher levels, earlier it failed to save 6357 and now 6230. So it means Nifty finding support near 6140 and declining near 6230. Its also indication that its sinking to lower levels and preparing good base for futuristic bull run around election time. I have already suggested you that currently Nifty is in correction mode and its really difficult to trade in correction but one can always make small profit.

I would strongly suggest to take long position around 6150 and then just keep tight SL of 6100 while short which we have already holding can be carry with SL 6230 (short term) and 6270 (swinger), bull run will start only after 6330.

FINAL WORD -

This is kind of market where one need to trade both side and this opportunity is really rare and swinger can get benefit most.

So be with market breadth, I have already told you y’day that when Nifty will give attempt towards 6230 exit your risky longs as trend is still down i.e. market is in correction phase and there’s lot of strong resistance in between 6230-6270-6330-6357 while on downside only 2 support zones are there 6120 and then 6020.

TODAY’S HOT STUFF –

Metals (TS, JSW Steel, SesaSter, Hindalco) -

In TS (S 360-345) and Sesa (S 189), both moving around support so trend could be buy on dips in metal sector while JSW and Hindalco can find support near 109-105.

ITC –

Instead of disappointed and some exit form FMCG, on Friday some buying interest seen in FMCG. For low risk takers its good bet with SL 305. It’s a slow moving stock and wont hurt you much in either case, you just need to keep SL. And for investors its like a fearless bet. Just need to keep Nifty SL 5950 either to exit and re-enter or to average more.

JACKPOT –

UPL-

People who have patience I am betting on few stocks like UPL, its making new 52 week high every week and I guess it would make new high soon. Its also remember here, stock which move up continuously need a small correction in between to provide good base in long run. Most probably it wont break 195 or max 186.

TataComm –

Its really a good bet for people who can afford some time. For me its good bet with short term SL 293 and good buy around 262.

Few more stocks which will give you handsome profit according to market sentiment and are – Arvind, AuroPharma, TataGlobal on long side. LT & IDFC is just opportunity on news base and can really turned into big jackpot. AT for small gains say it may hit 118-120 levels in short term.

FOR THIS WEEK – HCL and Wipro and TCS are just looks attractive.

Banks – remain subdued (selecting), Can bank looks weak. I am out of banks since few months but if there’s any opportunity I will make profit intraday or STBT max, I wont carry it for long.

MY STATUS – I may be IN/OUT for next 2-3 days say from Monday to Wednesday.

Be on board. Have a profitable day.