Stock Tips for the Week
Nifty commenced the week on a subdued note on the back of rate hike by the Reserve Bank of India and weak global cues. However, it continued its upward journey after this short correction and managed to close around 5,280 mark. The BSE Sensex and the NSE Nifty added 0.5% each to close at 17,645 and 5,282 respectively.
Banking and the FMCG stocks were in demand, on the other hand, Realty and the Small-Cap stocks witnessed some offloading.
The FIIs continued to be net buyers in the Indian markets; they bought to the tune of Rs21.3bn in the last five days. On the other hand, the DIIs were net seller to the tune of Rs6.58bn.
The Reserve Bank of India (RBI) unexpectedly raised rates for the first time since July 2008 after inflation accelerated to a 16-month high. India’s central bank increased the benchmark reverse repo rate to 3.5% from a record-low 3.25% and the repurchase rate to 5% from 4.75%. The surprise decision comes a month before the bank’s scheduled monetary policy meeting.
FOR THE NEXT WEEK, Upside 5325 is the immediate major resistance for Nifty and if this level is breached, an upward move until 5,375 can be expected. Downside, it can test 5150-5120 levels if the crucial 5180 support level is breached.
Global markets movement will also remain the key factor in deciding the trend for Indian market.
And now some hot stocks for next week:
ALSTOM PROJECTS
Which has closed at Rs. 626.55 in Fridays session, and has given a breakout on the weekly chart. The daily RSI is in strong buy mode. The stock has closed above all its key daily moving averages.
We recommend high risk traders to buy the stock between the ranges of Rs. 620-630 with a stop loss of Rs. 600 for a target of Rs. 680.
TATA MOTORS
100 day DMA has provided good support in Tata motors in last two months. If the market sustains momentum, the stock can post some decent gains.
The stock is witnessing strong accumulation at current level, which suggest that it may eventually result into an upward move from the crucial support line.
A break above Rs. 760 could lead to a fresh up move. The daily RSI has entered into a strong buying mode.
We recommend high risk traders to buy the stock between the range of 745-756 with a stop loss of 732 for a target of 785 and 795.
Visit www.capitalvia.com for more Stock Tips.
Banking and the FMCG stocks were in demand, on the other hand, Realty and the Small-Cap stocks witnessed some offloading.
The FIIs continued to be net buyers in the Indian markets; they bought to the tune of Rs21.3bn in the last five days. On the other hand, the DIIs were net seller to the tune of Rs6.58bn.
The Reserve Bank of India (RBI) unexpectedly raised rates for the first time since July 2008 after inflation accelerated to a 16-month high. India’s central bank increased the benchmark reverse repo rate to 3.5% from a record-low 3.25% and the repurchase rate to 5% from 4.75%. The surprise decision comes a month before the bank’s scheduled monetary policy meeting.
FOR THE NEXT WEEK, Upside 5325 is the immediate major resistance for Nifty and if this level is breached, an upward move until 5,375 can be expected. Downside, it can test 5150-5120 levels if the crucial 5180 support level is breached.
Global markets movement will also remain the key factor in deciding the trend for Indian market.
And now some hot stocks for next week:
ALSTOM PROJECTS
Which has closed at Rs. 626.55 in Fridays session, and has given a breakout on the weekly chart. The daily RSI is in strong buy mode. The stock has closed above all its key daily moving averages.
We recommend high risk traders to buy the stock between the ranges of Rs. 620-630 with a stop loss of Rs. 600 for a target of Rs. 680.
TATA MOTORS
100 day DMA has provided good support in Tata motors in last two months. If the market sustains momentum, the stock can post some decent gains.
The stock is witnessing strong accumulation at current level, which suggest that it may eventually result into an upward move from the crucial support line.
A break above Rs. 760 could lead to a fresh up move. The daily RSI has entered into a strong buying mode.
We recommend high risk traders to buy the stock between the range of 745-756 with a stop loss of 732 for a target of 785 and 795.
Visit www.capitalvia.com for more Stock Tips.
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