The STOCK-O-METER is back:
STOCKS Performance Monitor:
Today Market Action Review:30-10-14
The Nifty exhibited a stellar
show on the day of expiry and also on the day of ALL TIME HIGH, but missed
closing. Nifty made a comeback to highs (HIGH touched 8180.2 on 8th Sep-14)
after a serious correction from 8160.9 on 19th Sep-14 to a low of 7723.90 on 17th Oct-14. This is a “V” shape rise took
one month to fall and in 15 days crossed the HIGHs. We have expected the rise
but up to 8050 level or at the best 8130 but it could easily cross all
barriers, without any resistance!.
SRF
continued its journey as the results are good, add another 11+%, Century added
7 odd %, the story of FDI in Affordable housing is being sold high to rise the
real estate sector and NBFC and Housing finance companies…
Actually a
carpet are of 645sft falls under this category and all other small payers have
the BIG advantage but markets are favoring these companies also.
The Bharat
Forge, Eicher, T-motors & Maruti are darlings of the auto sales boom but
the market yet to consolidate as the major state elections are over and the
demand may fall in future but two wheelers may continue..
The BANKs
asset quality is drifting, may see further erosion as demand is not picking and
may take 2 more quarters.
The POLICY
activity is BIG and the markets are enthused by such announcements but the
quality of results yet to be ascertained. So buying at lower levels is
advisable rather than catching……
…………………..
On 20th Oct-14 published like…F&O action:
The Reliance below 926 can take unwinding pressure to 876-79 range; any move
above 948 can easily take it to 990-996 range without much difficulty. Reliance on the of gas price announcement (20th Oct-14,
Monday) registered a low of 911.55 since then it never traded below 926
touched a high of 981.55, today low is 947.10
Today
published: The Relinfra may touch 600+
lower support at 573-71, Today High 601/575.30
On 22nd
Wednesday Published as...The Tata
Steel may bounce from lows as the bottom support at 452, the run will take
place due to short covering from 463, may easily touch 480 level. Today High 477.45/468.4
The major miss-reading
is with ONGC and to some extent OMCs.
No comments:
Post a Comment