Dear Friends,yesterday,the August series ended and what a volatile series it was.We moved in a band of 4350-4600 but it was really volatile.
As for September series,i believe that one who gets right the DOW is more likely to be right.Since Dow has crossed its major resistance of 9500,it should move at least 3-4%more on short covering to 9800-9900 and that should be enough for nifty to break 4750 and meet its first major resistance between 4850-4950 till which range it should have a smooth rise now.The best bets for start are RCAP(can move to levels of around 920-930/-, Chambal fert(tgt58-59/-),UNITECH looks good as best bet among reality for a tgt of 107-110/-,ICICI Bank to around 820/-,JP tgt around 240-250/-,RCOM to around 290/- where all should face good resistance.
Thereafter in second week of series,i expect Dow to correct to possibly 9200,taking our own nifty to somewhere around 4450.
So,my nifty range would be a 500 point range of 4450-4950 in Sept series.
As for midcaps like ENIL,Gitanjali,Everonn,they should continue to gradually appreciate but dont expect much 20%tips while smallcaps should see some profit booking soon.
But dont just go by my advise and take your own informed decision while making investment decisions.
As for September series,i believe that one who gets right the DOW is more likely to be right.Since Dow has crossed its major resistance of 9500,it should move at least 3-4%more on short covering to 9800-9900 and that should be enough for nifty to break 4750 and meet its first major resistance between 4850-4950 till which range it should have a smooth rise now.The best bets for start are RCAP(can move to levels of around 920-930/-, Chambal fert(tgt58-59/-),UNITECH looks good as best bet among reality for a tgt of 107-110/-,ICICI Bank to around 820/-,JP tgt around 240-250/-,RCOM to around 290/- where all should face good resistance.
Thereafter in second week of series,i expect Dow to correct to possibly 9200,taking our own nifty to somewhere around 4450.
So,my nifty range would be a 500 point range of 4450-4950 in Sept series.
As for midcaps like ENIL,Gitanjali,Everonn,they should continue to gradually appreciate but dont expect much 20%tips while smallcaps should see some profit booking soon.
But dont just go by my advise and take your own informed decision while making investment decisions.
WAIT AND WATCH