Hello Everyone, { Monday, Jan 31, 9:12 am }
January series was one of the toughest series faced in last many years. Nifty slid by more than 9% in January series creating havoc in investor/trader community.
In such bad-tough series too we were able to generate profits in recommendations like Hexaware, ICICI Bank, and Renuka Sugars.
For index, first major support should be 5400. Index should do bottom formation with intense volatility.
As far as stock stories go, I would again stick to Financial Stocks. Lot of short positions have been built in the sector. With any pullback in the index, the sector should witness huge short covering, propelling the stocks in positive territory.
In Financials my choice again would be ICICI Bank { Close Price 1018 }. Last week after kissing 1091 stock did fall in line with the sector and index. On Friday, after making low of 993 stock has closed at 1018.
Technically, stock has made "doji" which is first sign of reversal. A white candle in a day or two should give a strong positive move. Those who could not participate in last week's rally can accumulate ICICI Bank in today's weakness.
This is second time in row that we are coming with recommendation of ICICI Bank.
Do accumulate in at least two tranches for a target price of 1061 plus.
Happy Investing-Smart Trading
Kishore
Indian Stocks FnO Tip
StocKValueResearch
StocKistech
January series was one of the toughest series faced in last many years. Nifty slid by more than 9% in January series creating havoc in investor/trader community.
In such bad-tough series too we were able to generate profits in recommendations like Hexaware, ICICI Bank, and Renuka Sugars.
For index, first major support should be 5400. Index should do bottom formation with intense volatility.
As far as stock stories go, I would again stick to Financial Stocks. Lot of short positions have been built in the sector. With any pullback in the index, the sector should witness huge short covering, propelling the stocks in positive territory.
In Financials my choice again would be ICICI Bank { Close Price 1018 }. Last week after kissing 1091 stock did fall in line with the sector and index. On Friday, after making low of 993 stock has closed at 1018.
Technically, stock has made "doji" which is first sign of reversal. A white candle in a day or two should give a strong positive move. Those who could not participate in last week's rally can accumulate ICICI Bank in today's weakness.
This is second time in row that we are coming with recommendation of ICICI Bank.
Do accumulate in at least two tranches for a target price of 1061 plus.
Happy Investing-Smart Trading
Kishore
Indian Stocks FnO Tip
StocKValueResearch
StocKistech