The Sensex was down 3% this week just before the budget and the F&O Expiry - closed @ 17700
Rising oil prices and the fear of rising inflation in its wake have spooked almost all the major markets worldwide.
There are also concerns for the political crisis spreading to other Middle East nations.
Back home, technically the sensex has tested the 200 DMA resistance and bounced down which is a bearish sign. If anyone could cheer up the markets, it should be dear Pranabda ;)
For individual stocks to be watched for ONLY post budget - Refer to the chart for specific details
India Infoline -Significant volumes in the past days indicate a breakout possibility
ITC : divergence seen. Should be a good medium term pick if it breakouts above the 200 DMA
Rural Electric Corp: Had blogged about this some days back. It did'nt become a significant gain post breakout then. Now oppurtunities arise again :)
Voltas - The bounce should happen with volumes too. Important not to take position before the said price.
Hero Honda
Had written about this in the last blog. The prices did rally as expected in the past three days.
Since the volumes with this rally have been significant, the rally should last for sometime as expected
Shree Renuka: had recommended this one some time back
http://2.bp.blogspot.com/-kRPjvkjeIyA/TWFEpX3qw5I/AAAAAAAAAd8/ExcQ1Wn0Eps/s1600/2011Feb-SHREE+RENUKA+SUGARS+LTD-800x600.png
the breakout didnt happen and the stock had drifted lower after the 200 DMA break.
It did'nt turn out to be a false breakout then (and ofcourse did'nt cross 84 too for taking a position :)
So for now.. Wait and watch for the budget and the sentiments post it.
Rising oil prices and the fear of rising inflation in its wake have spooked almost all the major markets worldwide.
There are also concerns for the political crisis spreading to other Middle East nations.
Back home, technically the sensex has tested the 200 DMA resistance and bounced down which is a bearish sign. If anyone could cheer up the markets, it should be dear Pranabda ;)
For individual stocks to be watched for ONLY post budget - Refer to the chart for specific details
India Infoline -Significant volumes in the past days indicate a breakout possibility
ITC : divergence seen. Should be a good medium term pick if it breakouts above the 200 DMA
Rural Electric Corp: Had blogged about this some days back. It did'nt become a significant gain post breakout then. Now oppurtunities arise again :)
Voltas - The bounce should happen with volumes too. Important not to take position before the said price.
Hero Honda
Had written about this in the last blog. The prices did rally as expected in the past three days.
Since the volumes with this rally have been significant, the rally should last for sometime as expected
Shree Renuka: had recommended this one some time back
http://2.bp.blogspot.com/-kRPjvkjeIyA/TWFEpX3qw5I/AAAAAAAAAd8/ExcQ1Wn0Eps/s1600/2011Feb-SHREE+RENUKA+SUGARS+LTD-800x600.png
the breakout didnt happen and the stock had drifted lower after the 200 DMA break.
It did'nt turn out to be a false breakout then (and ofcourse did'nt cross 84 too for taking a position :)
So for now.. Wait and watch for the budget and the sentiments post it.
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