Categorized | Featured, sensex

Indian stock market calls-Nitin Gupta(25/Aug/09)

Posted on 24 August 2009 by Anubhav Arya

Currentopics.com

Market Guru

Full Name : Nitin Gupta

Designation: Managing Director

Company Name: Gupta Consultancy Services

Experience in stock market: 9 years

Company Profile: Portfolio Management Services

Today’s Call

Sharp Upmove By Nifty

Nifty has made a sharp up move on Monday before expiry which was predicted in our morning edition. There is a possibility that nifty may retest its previous high of 4731 in couple of days. Right from the morning on Monday there was huge buying in all the secetorial indices round the board especially in the banking sector and the madcap it stocks. I expect the same trend to continue till 27^th of August.

All Of our calls ROCKED !!!

I had given a call of Mphasis in our Monday edition which has made a sharp upmove of 9 percent in Mondays trade. Rolta has moved up 8 rs and Aban Offshore ends the day trade by making a smart move of 50 points. I am still holding on Aban for a price target of 1320.

Technical Call

Buy Reliance Industries above 2000: Each time Reliance gets to about Rs 1900; it finds a lot of support. It will probably need to take 2,100 out and that would happen on some news flow or court judgment etc and once that is taken out you will straightaway see levels of 2,350 or 2,400, but for the moment its kind of rangebound between 1,900-2,100. I would advise all of to stay long for a price target of 2350 in September series.

Buy Siemens: The stock has made a sharp upmove on Monday by making a smart gain of 15 rs and had closed above 485. I would advise u all to make a long position in the stock for a price target of 502 on Tuesday.

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Buy Ashok Leyland and Tata motors : Passenger autos’ have had their run, now the CV’s are beginning to catch up, Tata Motors Ashok Leyland both had decent corrections. Above Rs 35, Ashok Leyland can easily get upto Rs 44 and Tata Motors back to Rs 520. The laggards are going to catch up and the monsoon really gave a good opportunity in autos.

Buy Ntpc: Ntpc is looking hot fiery above 205. I would recommend you all to take the 210 strike price call of September series between 7 to 8 rs for a price target of 13 rs. In equities one can take a long position for a target of 216.

Levels for Nifty

Nifty may give a flat opening on Wednesday with some profit booking in the early trade. The support levels are 4580 and 4600 and the rsistance levels are 4650 and 4731.

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Disclaimer : These Recommendations are based on technical analysis and Personal observations. Due care has been taken while preparing these comments, no responsibility will be assumed by the author for the consequences what so ever, resulting out of acting on these recommendations.

Disclosure : The calls made herein are for informational purposes and are not recommendations to any person to buy or sell any securities. The information is derived from sources that are deemed to be reliable but its accuracy and completeness are not guaranteed. The above calls are based on the theory of technical analysis. The author does not accept any liability for the use of this site. Readers of this site who buy or sell securities based on the information.