Strong Breakout given by INDIABULLS, trading above resistance of 193

by Bhaveek Patel

Last Friday (22-Oct-2010) we saw strong run-up in the stock of Indiabulls Financial Services Limited with volume more than 11 million (11,959,242), This rally is a positive breakout and the stock must post further gains. This stock has seen strong resistance at 193 levels in the past but, the closing above this levels has opened the way for 234 and 252. A temporary overbought situation might keep this stock in range of 205 to 213, […]

SHORT TERM STOCK – BUY SREI Infrastructure Finance

by Bhaveek Patel

BUY SREI INFRASTRUCTURE FINANCE ABOVE 120, FOR TARGET 136 / 144. WITH STOP LOSS AROUND 115. AS THE COMPANY HAS POSTED GOOD RESULT AND TECHNICALLY THE STOCK ENTERS A BULLISH RALLY ABOVE 120 SO IT CAN BE A GOOD SHORT TERM BUY.

EUR/USD INTRADAY TRADING FOR 22-OCT-2010

by Bhaveek Patel

EUR/USD is likely to be bearish, hourly chart clearly confirms the bearish pattern formed here. The pair again failed to break 1.4010 levels, so we see bears strong at current levels. Our view: SHORT POSITION BELOW 1.3901 FOR TARGET 1.3860 . STOP LOSS MUST BE PLACED AT 1.3929 OR GO LONG IF PAIR APPROCHES THE STOPLOSS FOR TARGET 1.3985

BUY NIFTY FOR TARGET 6300 LEVELS THIS MONTH

by Bhaveek Patel

A significant rally of 600 points was seen in Nifty last month which was overruled by profit booking in last 6 trading session. We have been bullish since 5600 levels, also a strong support in nifty is formed around 5911 i.e 50 days EMA. A jump is expected on these broader indices; as we look at the daily charts, Nifty has already formed a strong support around 6000 levels. Our Preference for This week: BUY […]

Power Grid Q2 Results Declared, Profit Surged 41.52%

by Bhaveek Patel

Power Grid Corporation Ltd. has announced its second quarter result (ending September 2010). It has reported net profit of Rs.651 crore against Rs.460 crore last quarter, a strong growth of 41.52% was seen on yearly basis (Year on year). Its total revenue boosted 25.04% to Rs.2,127 crore from Rs.1,701 crore (YoY). Also its average yearly earnings per share (EPS) was found to be Rs.5.22 per share, as compared to June 2010. Power Grid’s price-to-earnings (P/E) […]

23 New Scrips to be Added in NSE F&O

by Bhaveek Patel

The National Stock Exchange (NSE) is going to introduce 23 new scrips in F&O segment from October 29, 2010(Friday). 23 new scrips are 3i Infotech, Alok Industries, Bajaj Holdings, Bata, Bombay Dyeing, Central Bank, DCB, Escorts, Havells, HOEC, IGL, IndusInd Bank, IRB Infra, Jet Airways, Karnataka Bank, Max India, MRF, Oil India, S Kumars, SREI Infra, Sterlite Tech, Tata Motors DVR and TVS Motor. Most of these scrips were excluded from F&O series in mid […]