Sensex will open with a gap down in sympathy with the world markets. Lower levels will attract bargain hunting and short covering. As FII’s are expected to pump in huge amounts, this opportunity will not be missed by them. Also, investors who received back the Reliance Power IPO money are just waiting to find an opportunity to invest. Selling is not advisable as Market will bounce from lower levels. Buying is recommended just above the lower levels of index suggested by me(18192) or when the Sensex go above 18538. Strong Support exists at 18174-18192 range and nominal support at 18413. Investors are advised to attempt bottom fishing, as US Market itself will bounce on Wednesday as it seems oversold too. One may concentrate on momentum stocks which showed tremendous strength yesterday like, RNRL, JP Hydro, Indus Banks, NTPC, GMR Infra, IFCI and many more. Various other short term tips are given below:
Expected open (First 5 minutes) 18290-18330
Recommended BUY (at lower levels today): (In order of Priority – Best Buy on Top)
IFCI : 66.40 Target 85-95 by end Feb. SL 59 on a closing basis. Good chances of IFCI meeting the February target in a single session even.
Unitech: CMP 412.20 – Target 445-450 in two weeks, SL 390 on a closing basis
RCom : CMP 677.15 – Target 790 by end Feb, SL 649
ICICI Bank: CMP 1191 –Target 1360-1400 by end Feb, SL 1172 on a closing basis.
ACC : CMP: 768.70 – Revised Target 850-860 in two weeks. SL 749 on closing basis
ONGC: CMP :1075 –Target 1184 by end Feb. SL 1035 on a closing basis
Silverline : CMP: 59.20 – Target 92 by end April . SL 48
Chennai Petro: CMP 324.50–Target by end Feb.385 SL 309 on a closing basis
Shiva Cement: CMP 13.82 – Target 18 by end Feb. SL 12.95
DCB: CMP 115.65 – Target 155-160 by end Feb. SL 108
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