First of all, I sincerely apologize for not posting the stock picks at 10am yesterday as promised! Blame the market if you will,as the stocks are refusing to move either way. So I did the same. Did not move much :)
Ever since the trading hours have been extended the volumes on the bourses have reduced by 20%!! Well the move was aimed at doing the exact opposite, but the market players are refusing to acknowledge that.
For the extreme short term a minor correction of 300-500 points on the Sensex cannot be ruled out. But as we discussed yesterday the dip shall represent a buying opportunity for traders. And I stand by my view!
Have a good trading day and a great weekend.
Cheers,
Rahul T.
POSTED BELOW ARE 2 SHORT TERM PICKS FOR QUICK TRADERS.
PRAJ INDUSTRIES
The stock has broken out of a triangle formation and can target 122/130 in the short term.
Buy around 108-110 with a stop loss at 104.
STERLITE INDUSTRIES
STERLITE INDUSTRIES has been moving in an upward rising channel since May 2009. The stock has the potential to test 1000 in the short term. Buy on dips till 910-915 with a stop loss at 890 for a target of 1000.
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