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Posts Tagged ‘Ashok Leyland Stock’

NIFTY at 4600 – Bulls take complete charge

Thursday, August 13, 2009 Leave a comment

Today was a super day for the bulls! They took full advanatge of the global cues and forced the bears to liquidate their positions. A normal rally would have been 200-300 points but it got extended to 500 points because of short covering.

The bulls might not going to stop here and might try to win this battle by futher taking the markets up. 4700 is again in sight before profit booking  again starts to set in. On the downside 4550 is now a good levels for bulls to watch for. In the short term this market is very choppy and is playing between the 4400-4700 range now. But today’s move was very convincing as it came without much intraday volatility.

Stock specific, I’d look at moving partially out of sugar as part of risk reduction and move into something  like Reliance Industries /RPL. Metals stocks still look interesting. Sterlite and Hindalco were big winners today and might continue the bullish trend. In short term ITC and Ashok Leyland are two stocks that can pick momentum. Same is true for IFCI and GVK Power. JSW Steel stock from the steel sector looks promising from a short term trade point of view. Auto stocks which were mentioned yesterday made a smart move today.Hero Honda and Maruti were up more than 6% while Tata Motors was up 10%.

This can actually be a good rally as many stocks are ripe to resume their short term uptrend and the bulls can easily do sector rotation. All we need is the non occurance of any nasty surprises and some market euphoria. To deal with nasty surprises, we need to have risk managment in place. Our job is to make money rather than feel excited by this market euphoria. I’d advise everybody to sell their junk stocks (all those unknown midcaps and small caps) into this euphoria because when markets correct these junk stocks will fall more rapidly!

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Stock Watch- Ashok Leyland

Monday, July 27, 2009 2 comments

Ashok Leyland might be a good pick for aggressive traders as the stock has the potential to run to 38-40 levels. Auto sector is riding high on momentum.

The stock has strong base around 28-29, so that can be good stop.

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