As per our analysis, we expect a strong bounce back on nifty for about 150 points next week. This jump was confirmed on Friday (29-Oct). As we saw Nifty sharply advanced after touching the 50 DMA of 5933. This shows that the markets have finally found its support at 5933 levels, So considering these levels we see limited downside from here and an upside potential towards 6116 / 6158 levels. Stop ... [Continue Reading]
SAIL Second Quarter Result Disappoints, net profit down 34%
India's second largest steel company Steel Authority of India (SAIL) has announced its second quarter (ended September 2010) results today. The company has reported a net profit of Rs.1,090 cr as against Rs.1,660 cr last quarter, down 34.34% on year-on-year basis (YoY). Net sales jumped 6.63% to Rs.10,603 cr from Rs.9,944 cr (Year on year basis). Also, Earning before interest, depreciation, tax ... [Continue Reading]
Buy and Hold Nifty 6100 Call for November
Breakout of 6095 levels is a positive signal to enter long in nifty, So, Buy Nifty 6100 Call for November series above Rs.124 for target of Rs.158 / 180 levels, Also, keep stop loss at 111 levels. Targets are likely to be achieved next week. Strong momentum is possible in Nifty next week. ... [Continue Reading]
Nifty Support Resistance Levels For 28-Oct-2010
Today being F&O expiry of October series, Nifty may trade with high volatility; wait for any breakout in either direction before entering the trade today. Small trader may stay away from markets today. Nifty: Resistance : 6087 / 6113 Support : 6039 / 6004 Our Trading View: Enter Buy position in Nifty above 6066 levels. The target levels will be 6085 / 6095, From here Nifty may find strong ... [Continue Reading]
Amara Raja Batteries A Multibagger Stock, Strong Upside Potential
This company manufactures batteries for different automobile company. We see a strong growth in automobiles sector, which will surely grow this company in several folds. As per its strong fundamentals we see that this stock has been trading very cheap as compared to its earnings. Its 12 months average earnings per share is 18.76. While the P/E ratio stands at 10.5 which shows that the company has ... [Continue Reading]
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