Stock Watch – Idea,Wipro

IDEA CELLULAR has just come out with a decent set of results and the stock is looking great in picking upside momentum next week. 83-85 is aminor hurdle for the stock. It is very likely that the stock crosses that and reaches around 100. Below 75 the stock might lose momentum. A good bet in the short term.

Wipro looks another stock that looks decent in the medium term. 500+ might be possible if  market momentum continues.

Please be aware that these stocks can be extremely volatile. So pick them if you have the stomach for them.

Sector Watch-Telecom

Bharti Airtel and RCOM both are consolidating nicely and slowly trending upwards. I have already discussed Bharti Airtel before. As it has closed above 830,the chances of it continuing the uptrend has increased.

RCOM has resistances around 531-532 levels beyond which there could be accelerated move.

Idea Cellular might give a move after it closes above 120 levels.

Is this Spice IPO “rub off” effect?

Markets Update-Bharti is up around 1.5% while RCOM is still failing to cross 532 levels. CRISIL is again locked in the upper circuit for second day in the row. Is it going to be the next Divi’s lab in the making?

Reliance Capital which we have been discussing again and again after consolidation has moved up again to 1120 levels .Just because a stock stops for some days doesn’t mean that the uptrend is over!The stock has moved close to 7% from 1040 levels within a week.

Look at IDFC. It is slightly down and consolidating. Does it mean that uptrend in the stock is over?

Titan is almost up 8% at around 1270 levels hitting new lifetime highs. This makes the stock probably a little more expensive!

NIFTY is also slowly inching upwards.Currently at 4276 levels.Check what we had discussed last week to get the perspective and trade accordingly.