Dear All,
We finally see some convincing directions in the market and they all seem to indicate a down trend unless something unexpected happens tonight in the US markets. Following are the trading calls for tomorrow:
1. Short Nifty at 5123 for a target of 5110/5100/5080
Target 1 Hit and missed Target 2 by just 2 points.
Target 1 Hit and missed Target 2 by just 2 points.
2. Short Aban Offshore since 1275 for a target of 1266 /1260
Both the targets completed with a day low of 1247 in the futures space and 1255.3 in the cash segment.
Both the targets completed with a day low of 1247 in the futures space and 1255.3 in the cash segment.
3. Short Educomp at 714 for a target of 700
Target should be completed tomorrow i.e. Friday.
Target should be completed tomorrow i.e. Friday.
Medium Term Pick –
We believe that NMDC is a great pick & we also believe that people should subscribe to its FPO. We set it’s a target at 455 – 460 in the next 3 – 4 months. If you want the FPO subscription forms do let us know via email / phone call / SMS and we’ll have it sent to your office / residence. The price band for the same is 300 – 350 and hence the down side in the cash market will not be below 300 – 350. NMDC trading at 375 gives us an upside of Rs. 85 or 23% in 4 months.
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