Wednesday, January 16, 2013
Positional Stock Tips For Today: Intraday Trend For 16th Jan
Intraday Trend For Today:
Market Intraday trend is looking volatile for today's trading. It might get bearish if Nifty move below 5990 level else above 6090 level it will again set into the buying position. We suggest to wait for a buying signal above 6070 level.
Positional Stock Tips
If you look at the move 4-6 sessions back when Punjab National Bank (PNB) first hit Rs 920, the volumes were huge. However, if you look at the move now when it has bounced back over the last couple of days above Rs 900, the volumes have shrunk disastrously. It may slip to Rs 870-880. Sell is suggested in it.
Although Infosys has a key level 2800, given the volume and the way it broke out on the results day, if it goes back and closes above Rs 2800, more of a short squeeze could set in right up to 2950.
If you see the smaller players like the JK Lakshmi Cement or Madras Cement, those stocks have seen the corrections and I may add the name of Dalmia Bharat Enterprise, OCL also in the same space. I may not be too bullish on the Mangalam Cement at this stage unless and until you see the performance. Ambuja Cements can move to Rs 208-210