Long Ideas for Monday

[Prashanth]

Long Ideas for Monday, the 5th of Jan 2008

1. Gitanjali Gems
http://i175.photobucket.com/albums/w153/Prash454/Gitanjali.png

2. SRF
http://i175.photobucket.com/albums/w153/Prash454/SRF.png

3. Tech Mahindra
http://i175.photobucket.com/albums/w153/Prash454/TechMah.png

Just Ideas, not reco's

Prashanth

[achinj]

nice ideas .. thanks for sharing prashant .. i am adding 2 from my side CONCOR and GMR INFRA5

6

but what about the market ... nifty!

[Prashanth]

Nifty in current market circumstances makes for interesting reading. On one hand we have a lot of Gloom & Doom. Every Analyst on TV makes a case for 1800 - 2200 levels. Add to it, the horrible results that will soon be on us.

On the other hand, for the first time since a very long time, we are seeing FII inflow into the market. But unlike previous times they are not very aggressive in their buying and this makes for the smooth moves we are seeing in the market.

Nifty while is still bearish on the longer term charts has moved into Bullish mode on the shorter term. The internal strength of the market is currently low and hence the immense volatility we are seeing, but I believe that if this matures later on, we shall have a good rally on the cards and those who have entered lower shall have much more cushion than those who start to buy when TV analysts give out targets of 3500 - 3800, etc. If the trend does not mature and fizzles out, well, I am trading on extreme short tern anyway and hence can reverse my positions.

Markets on Monday shall in all probability open with a strong upward gap. We have. I expect 3120 levels to be broken. Next target will be around 3185. On the other hand, if markets are unable to sustain current levels, supports exist at 2930, 2820.

Trends:
Short Term: Bullish
Medium Term: Neutral
Long Term: Bearish.

Trade safe.

[Profit Maker]

Good evening ,

Dear Prashanth,

Good Idea for Monday,Thx alot ,

One thing i would like to share with u & my friends,

did u notice torrent Power ,If not then Plz ch right now,Bcoz I can see heavy Buy momentam in this script during last trading day on 2 jan 09.

This may sign for Break out from current levels.


Profit Maker

[achinj]

thanks Prashanth... volumes are still low and the charts are shaping up very much like the big Daddy .. Dow Jones..
can we have another thread on calls/options and u guiding us thru :)

cheers

[Prashanth]

Yes Profit Maker. Infact, delivery volumes too are high showing that its just not plain villa speculation.

[Prashanth]

thanks Prashanth... volumes are still low and the charts are shaping up very much like the big Daddy .. Dow Jones..
can we have another thread on calls/options and u guiding us thru :)

cheers
Sure. I shall open one as soon as I can come up with a strategy for the current market scenario.