We are witnessing the first signs of weakness in the markets and I believe that it might be prudent to go short in the market. However, we might just drift along on the upside if global cues support. In terms of stock picks following :
· GAIL – Buy @ 437 for a target of 450; stop loss at 430 (3% gain)
· Kotak Mahindra Bank – Sell@ 811 for a target of 798 ; stop loss at 817 (2% gain)
· Reliance Industries – Buy @ 1000 for a target of 1020; stop loss at 990 (2% gain)
In terms of small cap / mid cap picks following are some ideas:
· Resurgere mines – Buy at 108 for a target of 115; stop loss at 105 (6% gain)
· NOCIL Ltd – Buy at 21.6 for a target of 22.5; stop loss at 21 (4% gain)
Buy a Nifty put to hedge these longs.
Dewang K. Mehta
www.denip.in | http://twitter.com./denipconsultant
DENIP Consultants Private Limited
Resurgere Mines and NOCIL have completed their targets.
ReplyDeleteGAIL hit a day high of 445 today and Reliance stop loss was hit.
Kotak seems to be on its way with a day low of 805 today. I had informed most of the people who went short in Kotak to hold / average their positions.
To stay updated on all these calls drop us an email at dewang@denip.in / nimesh@denip.in