The Nifty witnessed an intra day movement of about 50.20 points. The closing index was 0.39% up as compared to the previous closing index.
Nifty now has resistance at 5261 and support at 5257, Nifty tested 5193 in the day as I mentioned earlier in my previous post that Nifty has support at 5187 which also was tested on the 22nd of March. Profit booking in the Nifty may lead the Nifty towards 5267 and 5293 with increasing volume's for the month end.
Ashok Leyland is a great buy with targets of Rs.57.5 and Above. A slight increase in volume in this stock will trigger a breakout in this stock immediately
we should see this stock move to Rs.100 and above in six months.
with 638 advances and 677 declines in Stock's.
As recommended in the last post, high beta value stock's such as ICICI Bank fell from 963 to 922, ICICI Bank still look's bearish and you can short with a stop loss of Rs.932 and a target of Rs.907 and a little below. There is no sign of the market turning positive, although profit booking might help sustain the market
Adhunik Metaliks is a good buy at Rs.123.10, with targets of Rs.Rs.127 and above, this stock will move to Rs.184 in a few months.
Tata Motors can head lower towards Rs.734.9, once broken this level can lead towards Rs.726 on an intraday basis, this also can head lower towars Rs.714.38
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Nifty did test 5293 on profit booking for the month end, Tata Motors tested 714.5 on the lower side after breaking Rs.734 and Rs.726 as targets mentioned.
ReplyDeleteAshok Leyland has moved up from Rs.53.10 recommendation price towards Rs.54.75 on the higher side on 26th march 2010.
ICICI Bank tested a low of Rs.913 on the lower side after breaking 922 support, and because it has one of the highest beta values. There was a pullback on the stock because of the profit bookings and market pulling back.