Hi Friends
It was a day of high volatile trading activity. On the back of weak global cues from Asian markets which slipped earlier in the morning trade and some positive cues from yesterday American market, it was a mixed and lacklusture day for Indian market.
While some of the stocks like Shriram transport finance, Patni computers, Petronet LNG showed some positive movment, others like Pantaloon retails, Nagarjuna constructions, Zee entertainment, Jet airways were the major losers.
It is indeed very difficult to trade at such a time of high volatality in the market and one should avoid trading in these times.
But Power Grid Corporation of India though showed some weakness for a little time, it again showed strength and crossed Rs. 97 mark.
While Europeon markets ended with mixed results, American Dow Jones and Nasdaq have opened on a positive note today and are trading strongly.
My view for tomorrow i.e. for 18/01/2011 is that of a volatile trade with negative bias, but I expect a bounceback for Indian market later in the day. However one should not create long positions at this time of high volatality and one should wait for the Indian market to consolidate.
Trading activity at this point of time should be stock specific only.
My next tip is " Suzlon " and one should buy it around 50-51 level for a target of Rs. 57 in short term and Rs. 70-75 in medium term. Even if it comes at lower level of 46-47, buy and accumulate this stock for a long term view of 2-3 years for good gains.
Regards
Lalit Kumar
Disclaimer: All views expressed in this blog are my personal opinion only and one should act on these ideas at his own risk and responsibility. Share market is unpredictable and there involves a risk of losing money. Always take the opinion of your financial adviser before taking decions in share market.
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