SMI –2nd January 2013 – Market View

Posted By : Kishore B.S

Hi friends,

On the Onset WISHING U ALL A HAPPY & PROSPEROUS YEAR 2013, with this note, and the breakout that has been confirmed yesterday by the Indices above the crucial and critical 5940 levels, the target is now set for the 6080 levels in the days to come.
Though 6080 remains the target levels yet due to the GAPS created yesterday and todays trading sessions, some volatility or dips in between cannot be ruled out. But that dips or corrections should be used as opportunities to create long positions.
Most of the PSU banks have been the roosters which have made the impact for the Indices to tread higher in this current rally surprising most of the participants since they were the most neglected stocks during the rallies earlier. At the current levels of the markets since most of the stocks have rallied, it would be advisable to wait for some correction to happen which might be soon for the 5900 levels to be tested again for fresh positions to be initiated.
Also it would be wise to take a look on some of the metals and infra stocks for the next leg of rally …..

Inputs: Mr. Hemanth.V, Faculty TA, Stock Market Institute – Bangalore)

Cheers!!

Team SMI

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