Nifty (5268) Sup 5150 Res 5350
Buy Ster (821) SL 810 Tgt 845, 850
Buy JP Associates (272) SL 267 Tgt 280, 283
Buy Punj Lloyd (394) SL 389 Tgt 402, 405
Sell Bajaj Auto (2176) SL 2199 Tgt 2135, 2125
Sell Allahabad Bank (106) SL 110 Tgt 98, 96
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go for contrarian view on the sector specific basis for run-up to the budget. sectors yet to recover from the lows of jan/feb include media, telecom and pharma. stay only with large and quality mid-cap stocks in this sector. some favourite picks could include UTV Software, GBN, Network18, RCom, XLTele, Aurobindo Pharma, Glen Pharma. Avoid shorting... market has formed a good base for itself in the 17750 & 5275 (+- 1%) range - very strong bullish pattern expected to emerge starting with budget as the trigger, if global markets remain largely calm. Expect 19,800 and 6000 levels, if this trend remains intact through the weekend into next monday (03 march). Keep strict trailing stop-losses (-2.6% downside from current levels). All the best.
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