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Monday 18 November 2013

Short Term Positional Calls for the week starting 18 Nov

Dear Readers

Markets made a fall from above 6300 levels to the support of 5980-6000 and bounced back smartly. Further upmove to the levels of 6250-300 is possible. 

For the trading on Nov 18, 6065 should be held for the market to be positive. Bullish momentum will be in tact above 6100. Support below 6065 is 6025-6000.

For positional trading with a holding period of 2-3 weeks, suggest buying in the following stocks with strict stoploss. Please book half the holding at first target and revise stoploss to buying price. Keep watch on index also. Nifty is unlikely to cross its previous high. Please start booking profits when Nifty reaches these level.

1. Tata Motors - Buy above 390 for a target of 400-420 with SL at 377
2. Tata Steel - Buy above 380 for a target of 400-420 with SL at 367
3. Maruti - Buy above 1630 for a target of 1650-1700 with SL at 1580
4. Bank of Baroda - Buy above 610 for a target of 620-640 with SL at 593.

TA Simplified



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