ASK JATIN – 15/02/2008
1) Dear Jatin,
I want to know what will be the future market outlook.Good buys in the present trend and future trend. Name one excellent script for trading and delivery which will assure that indeed you are the best.
S.R. SHRIYAN, Financial Advisor
Hello Shriyan,The Indian Stock Market has entered a corrective phase after a long time and this time the correction is not only in terms of price but also in terms of time. Our market has not faced a time wise correction in the past 18 months. So one can say that the current intermediate market trend is negative but the long term market outlook for Indian market is very bright. In the long term Trend Indian Market is on Bullish. This is the right time to invest in Indian stock Market to participate in the growth by picking the right stocks. If you want to invest for the short term to positional trades, you can refer my recommendations. For the long term one needs to look out for good stocks in infrastructure and public sector banks.
As far as proving myself is concerned I think I prove myself week after week. I do take great efforts to give the right recommendations week after week so that small investors and traders who read my recommendations make good money all the time. As far as they make money, I am happy, and then I don’t need to prove to anybody regarding who is the best. Just to refresh your memory, in the edition published on Jan 18th, we clearly stated that markets had given a sell signal and was going to touch levels of 16500, in the next two trading session we proved that to be right and as my readers and people who attended my seminar at WTC will testify how much benefits they got by getting an early exit because of our warning !!!
2) Dear Jatin
Please tell me future Prospects ofGlaxo Smithline pharama,Hotel leela,KEI Industries,
Glaxo SmithKline Pharma: This Script is one of the few multinational pharma company available at very reasonable valuation. This script has fallen all the way from 1345 to 704 levels in the past six months. Technically script will gain more strength only if it is able to close above 1120. If you are a trader than this is not the right stock, but if you look from investment point of view than it’s a good buy from 2 years horizon.
Hotel Leela : This script has also fallen considerably in the correction always from 76 levels to 36 and now trying to bounce backed and closed at 51 levels. The script faces severe resistance in Zone of 53 to 63 levels. Any close above 60 levels will lead the stock to higher levels.
KEI Industries has made the top of 168 levels and after that it has given a fall till the level of 69 and trading at 82 levels. This script is facing heavy resistance till the zone of 90 to 100.Once the script closes above 100, immediate targets will be 123 to 134.One can hold this script from one year prospective till the level of 190.
3) Dear JatinSir
Please guide me about Power Grid 532898 should I hold or sell and what are the future targets I bought at 151.
Hello Sheikh Koshif,All the power stock have been beaten down due to listing of Reliance Power. In the correction script has fallen from the level of 167 to 78, now again it is trying to bounce back facing towards its way up. It is facing good resistance from the level 115 to 130 area. If it is able to lose above 130, then one expect power grid to reach 165.