As was clear from the title TESTING TIMES..................Be Alert and smart .....
The above title meant to warn traders and investors need not worry .....People start talking about markets tanking .....The problem is everyone is bull - eyed....Nobody said about a bubble or overheating etc ...bla bla when markets surged from 12500 to 14500 ( more then 15% on the index whoa!!! ) ....Neither someone felt uneasy seeing SBI run frm 1100 to 1400 + in just less then 20 sessions...Or reliance giving 1300 to 1760 and TISCO 450 to 650 all these in less then 5 weeks ......This was not a bubble Now if these things correct by say 5-8% its a tank waah waah .......................................If you are and investor and this makes a thump in ur heart then maybe u need a change of view or change of investment area ..... Investors love declines not highs 🙂 ....
Corrections are necessary and should be used for investing and not for getting out in panics...Its simple only someone who was not part of this rally from 13k to 14.5k will have a prob in seeing this correction...The others who were following our blog would be eagerly looking towards picking up stocks in particular investment zones. ...
Sensex has broken our channel and sustaining below 14300 for next 2-3 sessions will tilt then sensex into sideways mode......But as per my observation be stock specific the reasons are clear the over run stocks in near term have taken a beating .......Selective heavies like RIL , TISCO , ONGC have been beaten down the selling is yet to trickle down to other areas .. .. I am waiting if that could be seen so we could get some investment stocks at bargain....Traders should avoid current days or try buying at panics or sell at higher spikes in the day ....Sensex support levels will be sent to clients...
Although the day was bad on SENSEX just see our calls which did good moves... The below given calls were sent to paid clients
nooresh merani (6/6/2007 10:10:18 AM): Sterlite Optical Buy stoploss 210 tgt 219 -224 ...cmp 215
High of the day 224.35 !!!! cool na
nooresh merani (6/6/2007 10:11:18 AM): Srf buy arnd 168 stoploss 165 tgt 173 ...177
The stock hit stoploss of 165 and later did 173 and we take no credit for it coz for us discipline is more important it saves u from deep losses !!!! ( positional call on it generated way back still on )
nooresh merani (6/6/2007 10:02:13 AM): BUy Skumars natiopnw wide at current levels and declines for ext short term
nooresh merani (6/6/2007 10:02:47 AM): if sustains 84.20 expect 87-88 intra day
nooresh merani (6/6/2007 10:32:11 AM): Skumars Nationwide is sustaining above 84 levels keep a stoploss of 80 ....And tgts at 87-88-94 or positional side( still on Positonal add on declines )
Intra day high of 88.20
For our blog readers written yesterday night ::::::::::::::: Buy Skumars Nationwide with a stoploss of 79 on closing basis for this expiry .....Unexpected ris e possible :))
Buy BILT only if sustains above 120.50/////// stoploss 117 tgt 125-130 ...only on sustaining though,..................This call hit stoploss but still looks good ....Or we would catch it again on breakout ........
And for paid clients we had suggested shorting NIFTY futures as a hedge to longs .....Ya nifty is meant for hedging more then for trading...
Stocks for Now :
Well there are a few shorts opening up but i still dont like giving short calls coz i am not seeing a 10-15% drop in particular stocks and shorts cannot be taken home in the cash segment so not many readers will be able to do it ...
Stocks that could go contrarian
SRF , Hindalco , RCOM , SKumars and CUmmins india watchout .....If market reverses from the lows expect these stocks to fireeeeee so look to add on declines ....
Investment Pick :
Shiv Vani Drilling
Buy on every declines for a good tgt of 500 plus in next 6 mths to 1 yr .....And much more in long term .....Investment Rationale : one of the finest oil drilling cos.... I would love to see it decline and had been waiting for it but it is not declining with markets so rather initiate a buy call now then miss it by bargaining ......IF comes lower buy more....Be patient .,...
FREE IDEAS FOR OUR READERS :
As a part of good will and appreciation of our work by our regular readers :
We would be sending free Investment Ideas or Free calls by SMS , whenever we find a good opportunity and would like to share it freely with our regular readers ........This would be sent very very rarely so we wont be filling your inbox 🙂 ...
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Regards,
Nooresh
09819225396
meraninooresh@yahoo.com
noorrock2002@gmail.com
