Nifty is trading in a range for the past one week. Its not wise to trade Nifty . As I have mentioned earlier I sold some out of money call and earning on time value.
Mid cap is the space to be in. Some of the ideas are - Central bank is a buy if it trades above 140 with stop of 128 and target of 164. Mercator Lines with stop of 60 and target is 77. FCS Software support is at 105 and target could be 144-150.
There are two large caps which are going through corrections and are oversold and offer a low risk opportunity. HCL Tech and Maruti stops are at 280 and 1420 and resistances are at 330/ 340 and 1630/ 1680 respectively.
Dollar has bounced back and it will put commodity stocks under pressure.
Monday, October 12, 2009
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