Market Update With Some Scrips To Invest

Will market touch this years new high or not? This is every person thinking in Dalal Street & which is very difficult to answer also!

If you see the above chart you can very easily make following repeated patterns

1. Two months bull run
2. One month bear correction

For example Aug 2009 rally ended in Oct 2009 & correction till Nov 2009 and this pattern is repeated again in November as fresh rally started in November and ended in mid Jan 2010 and correction till mid Feb.

Again fresh bottom in Feb 2010 and one more rally till April & leading one more correction till May end.

So from last one year we are making news higher highs & lower lows which is very good sign.

But Nifty is going to face stiff resistance @5400/5420 & if it able to cross that level it can touch 5480 /5500. From that level we can say that fresh breakout in trend patterns.

Now coming to some individual stocks...

Tech Mahindra

It touched rock solid bottom in recent free fall from 1100 level to 600 levels & has consolidated around 720 levels. So its safe to initiate the long call for long term investor for first target of 900 & if it crosses that level 1000 levels which is almost 40% return from present level

Aban offshore

Aban is one stock which will surely give multi bagger return only if you are in right side @ right time. I am saying because if you see below chart


if you purchase it at 15oo level in Jan or 1600 levels in December, till now you would have faced 50% erosion in capital or notional loss. It has fallen like a never ending bottom from that level & it has history like that. Moves up rapidly giving multiplier returns & falls more faster than that for any bad news. Because I have seen it moving from from sub 200 level to 1600 level in one year time.

Now coming present it has fallen because one of it rig has sunk & made a consolidated bottom around 600 levels & going up from that level. I will tell you again it will touch 1200 & 1600 so be smart to catch it right time & right level.

Sugar stocks like Bajaj Hindustan, Renuks & etc.

Because of international & domestic sugar price fall all sugar stocks corrected more than 50% from their recent highs in January. I feel they all made bottom & consolidated. So long term players can bet up on Bajaj Hindustan & Shree Renuka for at least 50% returns.