Budget 2008

View for Thursday, 07 FEB-2008
Lot of people ask, KAL MARKET KAISA RAHEGA???
Only those are trapped in most of the cases who try to enter in first few minutes. When sentiments are apprently weak.. we shall avoid being early bird !!

After US market fall along with Asian markets, Indian market responded little more than needed. I do not see any panic left like January Crash.

One shall build little long positions with some calculative risk. Some of the points to be taken into account :
(1)The way we read instances of sucide by farmers accross the country, FM can not touch Agriculture sector. This budget is last budget before election, government is sure to table POPULAR BUDGET. CM AND Chaiman of UPA will see that huge SOPS and subsidies etc are given to farmers. It is advisible to take Positions in Some of the stocks like Chambal ferti., and Nagarjuna ferti.You can eye Godavari ferti also. Future traders shall take positions in March series.
(2)From the bottom of 4448 and on closing basis 4899, I do not see any reason breaking Nifty levels of 4967 even in case of CRASH on closing basis.On weekly basis or even in short term basis, Nifty has good support around 5307 and 5244. The way today Nifty gained in last hour trade, I will not advise any short.
(3) day traders shall keep Nifty support of 5311 ( avoid first few minutes) with targets as under :5371-5427.Breaking 5287 only you shall think about 5267-5207.
(4) We advised all to take positions in some of the stocks.of which almost all stocks gave excellent returns.
List is as under:
( 1 ) RNRL.. we hold.
(2) nagarjuna ferti- today 12.84 % up
(3) Chambal ferti.today 8.84 % up
(4) IFCI..3.41 % up(5)ISPAT…3.18 % up…
(5) ACC …… We see 980 around target in near future.

Even if we study technicaly, FIBONACCi chart , NIFTY having good support around 5070 on weekly updated chart.
My Buying list is as under:
ACC, GNFC, NAG FERTI., RNRL,TTML,ACC
I may add few more like:
REL, AXIS-IT & T, PETRONET, RAJESH EXPORTS, ASHOK LEYL AND PANTALOON, MRPL
It is difficult to pin point exact targets but I advise to hold till March and
ADD AT EVERY DECLINE WITH NO STOP LOSS.
We will check appreciation in MARCH…..
Read words carefully….ADD AT EVERY DECLINE WITH NO STOP LOSS…