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Indian stock market calls-Nitin Gupta(09/Sep/09)

Posted on 09 September 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

Nifty ranagebound

Nifty was very voaltile an rangebound throughout the day on Wednesday. Nifty was taking support on 4780 and moving upwards. It has finally managed to lose above the 4800 mark. Realiance was the king on Thursdays trade by moving up by 96 points and manged to close above 2170.I expect the nifty to move above the 4850 mak on Thursday

Buy ICICI bank

Icici bank has clery given a brekpout on charts by closing the above the levels of 790. I would recommend a buy on this stock with a first price target of 807.7 which will act as amajor hurdle. 807.7 is also the 52 week high of this stock and since last 8 times the stock has failed to cross this level. But this time since last three ays the volumes have picked up in this stock so one can clearly say that by Thursday the 807 levels will be broken and new high will be made which can be be somewhere near to 840. So go long on this stock with a stop loss of 784 and mint money.

Buy Reliance Industries

There is a lot of buying activity happening in this stock since last two days. I the has rose by 9 percent in couple of days. The volumes were also healthy. I expect the same trend to continue for some more days. The stock has finally managed to close above 2170 mark and on a days high. There is a rumour in the market that some big fund house is entering the stock at these levels. I would recommend a buy on this stock at current market prie with a first price target of 2250 and a second price target of 2325 in 2 days time frame.

Buy Larsen Turbo

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It’s a pure technical call. The stock is hoverning around the levels of 1600 since couple of days. I expect a positive breakout on charts above 1630 levels. If the stock managed to cross 1630 with volumes then a expect a price of 1750 in hrs only. Stay long in this stock with a stoploss of 1575 and enjoy the price target of 1750 very soon.

Levels for nifty

Nifty may give a flat to positive opening as the ata suggests. The support levels are 4780 and 4750 an 4850 will act as a hurdle.

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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.