NIFTY-4770 TO 5720 LEVELS

One of the best moves of Nifty from a low of 4770 from 4^th June-12 to 5720 on 21^st Sep-12 is commendable. The real shoot-up took place during this month from 5215 from 5^th Sep-12. In my earlier postings suggested readers to buy from 522 level and only buying. Though Nifty touched 5448 on 23^rd Aug-12, the fall shall be used for accumulation rather than selling the stocks. The F&O expire will put some pressure on the top, Nifty may touch 5580 by this week end.

Now the slide is slow and consolidation is being taken place. The readers can consider reader-BHEL is an indicator…I clearly mentioned that the stock will zoom above 232 and gives the indication that the markets has enough strength. In my earlier postings, last month suggested that HINDLEVER is weak below 525 levels, will likely to touch 508 and 493 level. The first target achieved.

The M&M was recommended for 830-50 range when it was at 725. The stock has potential to cross 935 levels. The only concern is Reliance is not able to trade above 842-45 level which is very important for BULLS to keep their momentum intact. I asked ti Buy DLF, REC Ltd and SESAGOA in my YOUTUBE @BNRSTOCKS- the stocks achieved their target, so try to book profits and wait for the next wave. I also suggested buying SUGAR stocks, continuing to buy…the positions can be off loaded after 50% rise from this level.

The Global news is favouring the Bears rather Bulls. The China stimulus package can again trigger a next wave of up move in our equities. The EURO concern looks like a DEVIL in the bottle. The economic “unity” is at stake. So the stocks will slide fast below 7100 level. So be cautious with our markets.

Our markets won’t fall much until the cabinet expansion is taken place. The distribution of portfolio will change the course. For now, the cabinet is in a hurry to clear all pending approvals and wanted to take up more. The current lines is the restructuring of Rs 1,90,000 crore power distribution bad debts/dues of SEBs. The major beneficiaries are PFC, RECLtd and other private power distribution companies who gain on the liquidity and orders from the power companies.

CBI is probing since 1993 on the COAL block allocation. This is a political vindictive move may benefit the News channels but definitely not for the markets….