The Quarter III results declared by the biggies will guide the markets for the coming term. The broader indices may be choppy but as long as you are in the right stock, there is nothing to worry about.
I will post an Earnings Preview for this quarter by today evening. Do keep a watch.
Nifty, as written in the earlier post, is unlikely to break below 5100-5150. Maintain buy around those levels with a stop loss of 5050.
For traders, Shipping sector and Power Sector is looking good. Keep a watch on SCI and Power Grid.
Find chart attached below.
SHIPPING CORP OF INDIA
THE STOCK HAS BROKEN OUT OF A CHANNEL WITH HUG VOLUMES. MAINTAIN BUY AROUND 158-160 WITH A STOP LOSS OF 153 FOR A TARGET OF 210.
POWER GRID CORP
POWER GRID HAS GIVEN A TRIANGLE BREAKOUT AND IS HEADED TO 130 IN THE NEAR TERM. IT MAY FACE SOME RESISTANCE AT 121 ODD LEVELS.
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