Sunday, February 13, 2011
Todays Sentence
At the start of a bear market, nobody knows it is a bear market – they just think it is a correction – Marc Faber
Investment Idea
VIP INDUSTRIES
Present Price - Rs.505.50, Buy Above – Rs.513, Projected price – Rs.552
VIP Industries manufactures a range of hard-sided and soft-sided luggage including trolleys, suitcases, duffels and overnight travel solutions, executive cases, backpacks and school bags. Some of its brands include VIP, Alfa, Footloose, and Buddy. The moulded furniture division manufactures chairs, tables, stools and shells of plastic, marketed under the brand VIP Moderna. The company’s manufacturing facilities are located at Nashik, Nagpur, Sinnar, and Jalgoan in Maharashtra, and in Haridwar (Uttarakhand). Rising disposable incomes driven by buoyant GDP growth coupled with a shift towards better lifestyle ensures strong growth for the luggage industry. VIP, the leader, with a 60% market share, is fully geared to capitalise on the same.
On the technical front, the stock has formed a Morning Star Pattern which has strong bullish implications.
Buying is advised above Rs.513 for a target of Rs.552.
Present Price - Rs.505.50, Buy Above – Rs.513, Projected price – Rs.552
VIP Industries manufactures a range of hard-sided and soft-sided luggage including trolleys, suitcases, duffels and overnight travel solutions, executive cases, backpacks and school bags. Some of its brands include VIP, Alfa, Footloose, and Buddy. The moulded furniture division manufactures chairs, tables, stools and shells of plastic, marketed under the brand VIP Moderna. The company’s manufacturing facilities are located at Nashik, Nagpur, Sinnar, and Jalgoan in Maharashtra, and in Haridwar (Uttarakhand). Rising disposable incomes driven by buoyant GDP growth coupled with a shift towards better lifestyle ensures strong growth for the luggage industry. VIP, the leader, with a 60% market share, is fully geared to capitalise on the same.
On the technical front, the stock has formed a Morning Star Pattern which has strong bullish implications.
Buying is advised above Rs.513 for a target of Rs.552.
DERIVATIVE PICK 14 02 2011
BHUSAN STEEL :- ( CASH – Rs.378.55) : Buying is advised above Rs.383 for a target of Rs.391 and Rs.398. Higher price of Rs.407 and Rs.412 is also possible. Stop Loss of Rs.369 should be kept.
Stock To Trade 14 02 2011
- BALRAM CHIN :- NR7 pattern in Balrampur Chini. Buy above 68.50, Sell below 65.50.
- Core Pro :- Tech 282.05 Oversold TA Insync in Core projects. Buy with stoploss below 270.
- Fortis :- TA Turtle upside Breakout in Fortis 30 mins. Chart. Buy with stop loss below 147.50.
Big move comes. An 149 point rally in an intraday trading.
Nifty Watch:- The Nifty opened at 5241. The Index made a low at 5180 with a 60 point decline, and then moved up to 5329 with a 149 point rally and finally closed at 5312 with a gain of 71 points to its open. As we have mentioned in yesterday newsletter about a big move. This 149 point move may give us some relief that the intermediate downtrend is going to take a break. But we will have to also look for a strong signal of bullish market.
Trend:- Today’s market remains in an intermediate downtrend. Market is trading below its 200 days and 50 days moving average. TA Insync (55-5) is heavily oversold in a strong downtrend. But it’s now turning up. This shows us a relief rally is very near to us. So wait for a strong signal of buying.
Level:- Looking for minor support at 5250 and major support at 5130. Resistance comes at 5400. Nifty is very near to its support level Today’s 149 point rally shows us that we are in a strong support level. So investors should hold their position and wait for a buying opportunity.
Summary:- The Nifty has come almost close to its support level. Therefore, investors should wait for a base building process. Investors should hold on to their cash. Wait for a strong base building process to start. That will give us a buying opportunity in the market.
The Market made two major highs - One in January 2008 and second in November 2010. Selected sectors crossed the 2008 highs in year 2010, while some sectors remained lower than the 2008 highs.
Trend:- Today’s market remains in an intermediate downtrend. Market is trading below its 200 days and 50 days moving average. TA Insync (55-5) is heavily oversold in a strong downtrend. But it’s now turning up. This shows us a relief rally is very near to us. So wait for a strong signal of buying.
Level:- Looking for minor support at 5250 and major support at 5130. Resistance comes at 5400. Nifty is very near to its support level Today’s 149 point rally shows us that we are in a strong support level. So investors should hold their position and wait for a buying opportunity.
Summary:- The Nifty has come almost close to its support level. Therefore, investors should wait for a base building process. Investors should hold on to their cash. Wait for a strong base building process to start. That will give us a buying opportunity in the market.
The Market made two major highs - One in January 2008 and second in November 2010. Selected sectors crossed the 2008 highs in year 2010, while some sectors remained lower than the 2008 highs.
Subscribe to:
Posts (Atom)