Stock Ideas for the week 24th Jan 2011 - Disclaimer Post Applies

Last week after 2 consecutive weeks of sell off in the market we saw some bit of consolidation and stability. Although the FII selling has not stopped, we believe that if the macro economic scenario achieves some stability we could witness some upside in the market. In the chart below, if some buying begins in the market then we have a clear upside till 5820. Considering that this is the expiry week, we will definitely witness some short covering along with short creation in the February series. This could lead to some definite volatility. Whether we witness volatility while rising or falling remains to be seen. For now it would be safer to bet on the 5800 level rather than a test of 5500.



Trading Picks for the week 24th Jan 2011:

1. Dhanlaxmi bank – CMP 110.4 Tgt 114.50/118 SL: 108.10

2. Apollo Tyres – CMP 56.7 Tgt 58/60.50 SL: 55.30



3· BHEL – CMP 2217 Tgt 2262/2357 SL: 2135



4. Century Textile – CMP 361.4 Tgt 400/440 SL: 340

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd