Big Brother- Dow Jones rallied last night on the back of good GDP data though home sell figures are still a concern . The rally by big brother may see a strong rally in Asian markets too.
Our yesterday ideas Sterlite and Ranbaxy Lab are expected to do well today - book profit by the end of the day so that you may spend it on weekend which is going to be an extended one.
Today ideas are Hindalco with support of 115 and resistance at 140-144. Crude is coming back and good GDP number from USA, and a weak Dollar may see it going up therefore, as a crude proxy one can think of Cairn with stop at 260 and resistance at 290-296 .
Realty sector is a high beta sector and was butchered during these down days . Its a very short term play Ajmera Realty has support at 240 and resistance at 290- 315.
We have been telling our readers that when panic sets in - one should buy good stocks.
We for one never forget the old street saying " Be fearful when others are greedy and be greedy when others are fearful"
We have been greedy and this weekend we intend to indulge on some shopping spree after booking profits.
Wishing you a nice weekend ahead.
Friday, October 30, 2009
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