WEEK GONEBY
After recording weekly negative close for the last 3 weeks, Nifty managed to close the week in green, aided partly by short coverings & partly by positive global cues. Nifty closed the week at 4827, up 70 points. Nifty traded the week almost in the trading range indicated by me in my last weekly report, by trading in the range of 4675-4843 against the range of 4670-4810 indicated by me. The low of the week of 4675 was recorded on Monday, and the high of the week of 4843 was touched on Thursday. Friday was a trading holiday.
WEEK AHEAD
Nifty will begin a small pre budget rally during next week, and will trade with a positive bias. It will also continue its positive weekly close. The trading range for the week is likely to be 4740-4970.
STOCK RECOMMENDATION
My stock pick for this week is GTL INFRA (cmp 41).
BUY GTL Infra - CMP 41 - FV 10 - EQ 957cr - 52 weeks high 49.70 - All time high 106.50 - 52 week low 27.60. Once this company records an EPS of 2 for any year, the share price will cross 3 figures mark, because of a high industry P/E of more than 50. The recent take over of tower business of AIRCELL will enable this company to get into positive quarterly results, quarter after quarter, starting from Q3 quarter of the current financial year.
OPTION RECOMMENDATION
My Options recommendation for the week is Nifty call option 4900CE.
BUY Nifty call 4900CE (cmp 57) below 50 for a target of 100.
NIFTY SMS GROUP TRADES - 2010
This Month Jan 2010 For 2010
A. Total Trades: 7 15 22
B. Winning Trades: 5 11 16
C. Losing Trades: 2 4 6
D. Points Gained: 136 283 419
E. Points Lost: 46 57 103
F. Net Gain: 90 226 316
No comments:
Post a Comment