Buy & Sell Calls - Oct 31 2012

NIFTY is showing signs of falling further, but may get support around 5550, so continue to accumulate as I had mentioned in my previous blog post http://analyzestockmarket.blogspot.in/2012/10/nifty-nov-2012-series-buy-on-dips-f.html

Even in this falling market we see a lot of opportunities arising in couple of stocks and sectors

Dr Reddy

On Elliot wave front, it has started a fresh wave 3 which could take it to 1800 to 1820 levels or even higher. MACD crossover has just occurred with ADX indicator showing an upmove

Buy at cmp, and even keep buying on every dip, SL is not required for this stock, however you can place it in the range of 1706 to 1720

Glenmark

This stock made a new high today, it may be trading in a subdued manner for next couple of trading sessions. However at every dip accumulate it and target 490 in next 15 to 20 trading sessions

CNX IT Index

Even before NIFTY could show signs of weakness IT index has been down for sometime now, thanks to Infosys

We are now seeing mid cap stocks rallying and this should specifically take the index further up from current levels

Buy at current levels and aim 6250 in Nov series or even more

NIIT Tech

Keep buying on dips and target 310 to 315. Do not hurry and buy allow it to retrace back to 278 to 285 levels and then re-enter and the reward is on the upside

Bank NIFTY

Bank NIFTY is showing weakness much more than IT index and that should take it down to 11000 and then further to 10660

So short at every rise and look to take profits in future segment at the levels that I have mentioned above

LIC Housing Finance

After seeing a downward trend for a long time, the stock has formed its base, it may not correct in a deep manner. Accumulate on every dip, we may see it moving up in next 2 to 3 trading sessions

Target - 260

Reach out to me  at researchstockmarket@gmail.com if you have any further questions on stocks that you are currently holding if you want to know a 1 to 3 month view. If you are planning to buy or sell can help you make a right decision as well