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August Second Week
Last week market didnt see a long run rather halted the three weeks global market rally which reflected very well in our financial markets. Some boosts came in through the earnings from the local companies. Some results cheered and some results were dull. But there was no huge sell off in any counter but there could be some pressure seen sectors like autos and reality.
With the earning seasons over what are the cues and triggers for this week and what are the support levels and trading ideas. Lets catch the fish in the pond.
Crucial Support Levels for Global Indices
Dow Jones Industrial average saw the indices going southwards but on friday gave a pull back rally on the better than the expected unemployment report which claimed a dip in the jobless percentage for the firs time after the recession.
Technical index S&P continues to indicate that 1000 mark is the huge support level. Hence this counter is expected to flourish this week.
Nikkie shows some strength along with the global cues. No problems and no need to worry as there are no huge data awaited this week from this week.
Honk Kong's Hang Seng crossed the 21K level and remains range bound too and fro motion of maintaining the 20K strong support levels. Keep this as the indicator for entry and one can go long at these levels rather can carrying a sell order.
Bombay Stock Exchange BSE has already touched 16K mark which is the expected level under the earnings season. But now the earning seasons are over and the market is awaiting for the monsoon revivals. Do you know market can touch 20K levels by the end of this year. By analysing the chart we can say we are approaching the end of recession and industries start to get projects in all fields. So it is better to carry long positions as the stock valuations are not so expensive at these level. If not now can you buy the stocks of interest at 20K levels, so decide what is right now. Dont believe the trade calls as they are given for trading and not for investments.
National Stock Exchange NSE hit a bull shit levels the last week.
Nifty sees support around 4300 levels and investors and traders can take any position in the funda valued stocks and book profit at 4700-4800 levels by the august end.
Rupee continues to show bitter reaction which is bad for the IT exporters. As the earnings are over and analyzing the forex chart there are no pressure at the current level. It is speculated that rupee can go 49 levels against dollar even thought dollar is expected to show some strength this week.
MCX Buy sell Tips
Crude the liquid diamond journey of up and down is over and it is the time that crude to be settled at the 70 kind of levels. So there cannot be a huge gains expected in this trading unlike equity trading.
Copper and aluminium outperformed the last two weeks touching the new highs day by day. But there is a huge pressure seen at the top levels where it will take a reverse journey in the coming weeks. So metal sector is expected to see a medium sell off this week.
950 levels is the mass support for this yellow metal trading. Neither the demand is low nor the wish is degrading. people are ready to buy at any levels.
Gold can see new highs this week and by this month as the festive seasons are approaching.
Free Nse, BSE tips
Monsoon revival is expected this week in the eastern part of the country. But the average percentage of rainfall is lower than expected for this year.
Expect the fertilizer stocks like Chambal fertilizers, National fertilizers to be under pressure this week and it is better to remain short in this counter.
Consumer beauty products share decreases for HUL stock . This already saw 7% correction last week and this week HUL, ITC remains under rated.
Real estate sector is the one that anyone can go long as the land rates start to revive as the recession is over mos part of it.
Stocks like DLF, IVRCL Infra are looking attractive at these levels.
Stock to watch is India Bull real estate which can go upto 260-270 kind of levels as there is a power IPO expected to hit the equity market. FII holdings are the highest in this stock than any other real estate stocks. So the stocks looks very attractive at the current price. If market steps up this will flare to the above said levels. This is a huge momentum stock and please dont go short in this.
Infrastructure space is expected to get some norms and announcements this week. One can take long positions in the PunjLloyd stock which is in the midcap space. Stock is looking attractive and expected to fetch huge orders from central. The target for this stock is 250-255 in the upside for short term and 300 is the next target if Nifty sustains above 4700 in this week.