BOOK PARTIAL PROFITS
Markets are very close to immediate resistance of 18400 levels, where we see some profit booking to arise but if we manage to close above tht levels then we can see the next levels of 18800 & 19200 soon.
The supports for the markets are 17900 & 17400 levels the same for Nifty are 5250 & 5050.
Last time we updated on 14th Feb 2008 we had asked to do value buying the following sectors which gave returns of around 5 to 10 % in just few days time, U can check the same on our previous post for the same date on this website.
The sectors / stocks were : Technically stocks which look +ve in this short term bul run are :
Reliance pack : Ril, Rel capital, Rcom, Rpl & Rnrl
Engineering stocks : Lnt, Siemens, Abb, Punj Llyod
Banking stocks : Sbi, Icici bank, Kotak Bank & mid cap banks too
We would ask u to book partial profits in these stocks & use trail stop loss theory, the trail stop is 17900 as once we close below this levels we would like to advise to exit all long positions & wait for fresh buying calls.
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Axit Shah
Equity Advisor ~ Allies Financial Services
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