BSEIndia: All Stock Market News: [sharetrading] Anagram's Daily Call

Sunday, March 07, 2010

[sharetrading] Anagram's Daily Call

Anagram's Daily Call : 8th March 2010

VIEWPOINT: STAY LONG; BOOK PROFIT AROUND 5200 IN NIFTY

US markets surged on Friday, buoyed by the positive jobs report, with Dow and S&P 500 closing at their highest levels in six weeks. Nasdaq hit an 18-month closing high helped by Apple Inc, which surged nearly 4% to an all time closing high. February jobs data showed a decline of 36000 in nonfarm payrolls compared with expectations in a Reuters poll for a loss of 50,000. Consumer credit rose USD 4.96 billion in January, its first increase in a year and the largest for any month since mid-2008.

Nifty surged 3.4% last week, the highest weekly gain since the week ending 24th December, 2009.Technical outlook on the market still remains bullish. Talking about the possible targets on the higher side the trend line, adjoining tops of October and December 2009, that acted as resistance and later on switched the role as support, will now work as a resistance around 5180. The trend line adjoining tops of 12th and 18th Jan presents resistance around 5240. Therefore, 5180-5240 is likely to act as a strong resistance zone going forward. The advice is to Stay long, buy every dip and book profit around 5200. 5049, the low made on Thursday will act as an immediate support, followed by a stronger one at 4930, the previous top.

OPEN POSITION CALLS
Reco Date	STOCK	RECO PRICE	RECOMMENDATION	SL	TARGET	TIME FRAME	CMP	% Gain/ Loss on CMP	Comments
05/01/2010	ELECTRO STL	51.70	BUY 50% AT CMP AND 50% AROUND 47	42	67,75	2-3 MONTHS	48.65	-1.42	Call Open
16/01/2010	BEML	1185.00	BUY 50% AT CMP AND 50% AROUND 1100	985	1525	2-3 MONTHS	1063.3	-6.94	Call Open
18/01/2010	J B CHM	66.50	BUY 50% AT CMP AND 50% AROUND 61	55	83	2-3 MONTHS	67.50	5.88	Call Open
29/01/2010	GARW POLY	53.55	ACCUMULATE BETWEEN 53.55-51	46	67	1 Month	55.7	4.01	BOOK PROFIT
02/03/2010	USHA MARTIN	91.9	ACCUMULATE BETWEEN 92-91	86.4	98	3-4 DAYS	91.15	-0.82	Call Open
03/03/2010	TINPLATE	81.7	ACCUMULATE BETWEEN 81.75-81	77.1	88.4	2-3 DAYS	81.9	0.24	Hit RSL
04/03/2010	REL COM	3.3	MARCH 170 CALL	2.3	5.4	2-3 DAYS	3.8		Hit RSL
05/01/2010	ELECTRO STL	51.70	BUY 50% AT CMP AND 50% AROUND 47	42	67,75	2-3 MONTHS	48.65	-1.42	Call Open