Nifty gave a very smart pullback today, Sensex gave a decent gain of 412 points to close the week’s trade at 8757 & Nifty gained 101 points closing the trade at 2720. For the week ended, both the index gained nearly 5% WoW. The 3 days trade witnessed a good buying in all the sectors. The US markets also accelerate the pullback rally. Today’s gain was the biggest gain for the year 2009 till nowand the bull run was lead by Banks & other Large Caps.
However, i dont see a major rise from the current levels. Nifty has a uptrend stop around 2750-2800 levels but the support at the downside is seen at 2500-2400 levels. The medium term story for the markets remain weaker. And if the 2400 levels are breached, we may see further bloodbath to 1800 levels on Nifty. Due to the eventual drama like Elections, Inflation, IIP, G20 Summit & other few factors, its very hard to say when we can expect a fall. But the fall is for sure. I dont know when we will touch the lows but we will touch the lows for sure.
If we have to come out of the bear rally, Nifty has to witness good buying volumes till 3100 levels. Till 3100 on upside is breached, we remain in the downward trend. As of now, the Nifty is at peak levels for the range & so we may see some profits booking & we can even expect the Shorts building in the March & April Contracts. So one can consider going short in April Contract with big stoploss of around 3000-3100 levels. The current rally can add 80-100 points more on Nifty so traders can start Shorting at different levels with averaging techniques.
The concern of “Growing NPA’s” remain to tickle the Banks Balance Sheets so we may see some huge volumes of trade with downward bias in Banking stocks like ICICI, AXIS, SBI & few others in the coming days. Overall, remain cautious, do not get carried away in this relief rally. Further, the appropriate trading calls will be given here on the page & sms group as soon as they are generated. Keep visiting the site for the trading calls & earn good profits.
Book Profits
Safe Traders can book profits at 2550 in my Nifty Short Call given 3 days earlier at 2680 levels,, 1st tgt is achieved,, Profit od Rs.6500/- per lot in 3 days.
The Rail Budget 2009-10
Highlights
1) Freight loading targeted at 910 mt – an increment of 60 mt on 2008-09; number of passengers likely to grow by around 7%.
2) Gross Traffic Receipts estimated at Rs 93,159 cr i.e. Rs 10,766 cr more than 2008-09.
3) Ordinary Working Expenses budgeted at Rs 62,900 cr to cover the full year impact of VI CPC and the payment of 60% arrears due in 2009-10.
4) Dividend payable to General Revenues kept at Rs 5,304 cr at the current applicable rates.
5) Budgeted Operating Ratio 89.9%.
6)Plan outlay kept at Rs 37,905 cr.
7) 43 new train services to be started in 2009-10, extension of 14 trains envisaged and frequency of 14 trains to be increased.
8) With a view to facilitate improved train operations, it has been decided to set up two new railway divisions at Bhagalpur and Thawe.
9) 25 surveys proposed comprising 14 for new lines, 3 for gauge conversion and 28 for doubling projects.
10) Pre-feasibility study for running high speed bullet trains being pursued.
11) Construction of Rail Wheel Factory, Chapra on in full swing;
12) Work on diesel and electric locomotive factories at Marhoura and Madhepura targeted for early start.
13) Bharat Wagon Limited, Mokama & Muzaffarpur transferred to Ministry of Railways; transfer of wagon units of Burn Standard at Burnpur and Howrah also under consideration on the same lines.
Reduction in Tariffs
1)Reduction in passenger fares of ordinary passenger trains by one rupee for fares costing up to Rupees fifty per passenger for journey above ten kms.
2)Second class and sleeper class fares of all Mail/Express and ordinary passenger trains to be reduced by 2 per cent for tickets costing Rupees fifty and more per passenger.
3) Fares of AC First Class, AC II tier, AC III tier and AC Chair Car also to be reduced by two per cent
2 Year Positional Call
Buy Petronet LNG on every dip for long term perspective of 2 years. The company has sound fundamantals & good expansion plans.
The Company has planned to set up a 500-MW power plant in Vypeen Island, adjacent to the LNG terminal, at an estimated cost of Rs 2,500 crore within a total area of 50 hectares.
The Mega project terminal would become fully operational by March 2012 & it is expected to yeild very good returns. This project will also create a good employment and so even the government may encourage FDI to invest in this counter.
There is short term Res. of 47-50 levels if global ques keep calm. Whereas the target for 2 years is upto 200-220 levels.
Nifty Levels (11th Feb)
Good Morning Visitors & Members,
Nifty Support at 2860, if broken,, 2835-2820,, On upside 2930,, above this it can go to 2950-60.
Good Day.
Nifty Support at 2860, if broken,, 2835-2820,, On upside 2930,, above this it can go to 2950-60.
Good Day.
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