No major fireworks, but the real trend is likely to re-assert itself from tomorrow onwards and that trend happens to be down.
It was a buy in between about 131-135, but at these levels I would possibly wait.
Among the FMCG stocks ITC and possibly Dabur I would be positive on as compared to the other stocks. We have also talked about including HUL. So possibly one trade could be that you could go long on ITC, go short on HUL.
Since people had stop tracking this stock and now suddenly there is nearly 100%-120% sort of a rise in last two months. So may be it was a good opportunity for someone holding a block to exit.
I would say it is positive but some of the markets had taken it negative when they raised it yesterday. So, clearly closer to 60-62 levels it was a decent buy.
The deal has to happen, I do not think he has much of a choice the question is at what levels whether it is at 1000 or 1200. The rumour on the street is closer to 1200, so that is one of the reasons why it is still holding on at these levels.
Look at buying closer to 190 where we saw this morning and exit closer to about 210-215, that has been the band I suppose for the last eight to nine months.
I really do not see the stock breaking the current levels decisively but in case it breaks, I still buy it because I am looking at life beyond the next six to eight months, when you will have the tariff hikes happening.
At these levels, I am finding Maruti a bit too expensive. So, I suppose that you should see levels of closer to about 1050-1060 over the next two or three weeks.
Jindal Steel & Power Ltd is a ‘SELL’ call with a target of Rs 340 and a stop loss of Rs 362.
No comments:
Post a Comment