On Friday Nifty has made a new high and was able to trade above the much hyped resistance level of 4731. But we should not forget in this Frenzy that Nifty has gained more than 80% from March 2009 low and this breakout may fool and trap those who went long on this breakout. The risk is higher but now and market is heavily loaded on long side. US and China markets are showing signs of crack. It’s better to stay away from Nifty for time being.
Individual stocks particularly from MID Cap stable will see some actions in the coming week .ICSA, Rolta, Patni Comupter, Exide, Shanti Gears, Graphite India , Berger Paints , GMDC and Ruchi Soya are some of the stocks you should keep on your radar for going long in next week. But you should buy half of your normal quantity.
Sunday, August 30, 2009
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