Well, a few days back everybody thought that this market would not fall and now everyone has become so fearful as if this market would never rise. This is the same game of fear and greed .
Nifty is still in uptrend and is going through correction phase. It may witness some volatility and it has got major support near 4700-4750 zone.
This correction once it gets over would throw many opportunity to buy those stocks which would see momentum again.
Mcleod Russel above 207 with stop of 195 , target -236-280 , Cairn above 278 with stop of 266 for target 290-300 and BHEL above 2370 with stop of 2300 and target of 2500 are ideas for the day.One has to keep in mind that markets are in short term downtrend trade with small quantity and buy only above the price mentioned.
I would also look for IVRCL, JP Associate, Cairn , Polaris and Union Bank as investment opportunity when market falls more from here.
Tuesday, October 27, 2009
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