Salient Features
Fund opens on : DECEMBER 28,2006
FUND closes on : MARCH 29,2007
Trustee : JM Financial Trustee Company Private Limited
Benchmark Index : The performance of JM Equity Tax Saver Fund-Series 1 will be benchmarked with the BSE 200 Index.
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The pull back was confirmed yesterday. The markets traded firm without much volatility and NIFTY broke all crucial resistances during the day. Some heavy buying was witnessed in the last half hour of the yesterday’s trade, which is expected to continue today. Today the global cues have been very positive. The US markets have rallied and the Asian markets are all opened in green in the morning. We expect a gap up opening today. The crucial resistance is placed at 3885 for NIFTY.
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The Board of HCL Technologies has announced bonus in the ratio of 1 is to 1. The stock has started moving upwards on the news. currently the stock is trading at around 600 levels and is expected to move further to 630 levels till the closing of the trading session. The stock has a good intra day trading opportunity.
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The NIFTY is currently trading at 3828. The crucial resistance placed at 3825 has been taken out and the markets are quite bullish and NIFTY might see 3850 levels also till the closing of the session. Remain long in your positions as once 3850 is taken out some short covering will be witnessed, which will take the markets further.
Posted in Daily Tips, Sensex | No Comments »
NIFTY has taken out the crucial resistance placed at 3805 and is currently trading at 3815. One should remain long in the market and wait for the next resistance level of 3825. Stocks like Unitech, Century Textiles, Zee telefilms, Ansal Properties and Parsvnath Developers are major gainers.
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Yesterday the markets saw some pull back and today is going to be the crucial day for the markets to find a direction. Two things might happen. One, the markets might test the previous lows once again and there may be more selling. Two, the markets will rise further on back of value buying and crosses crucial resistances placed at 3805 and 3825 (for NIFTY). The global cues have been positive today and the fact that FIIs had not sold out and there are no big triggers for a bear markets, the more chances are that the markets will hold up and if the NIFTY is able to sustain above 3805 today which is a crucial resistance we might not see a sell off and more buying will come in with short covering, which will take the markets further up.
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The markets have been very volatile for the past two days and sensex has shed nearly 800 points in two days. The selling pressure has not come from FIIs but from the domestic mutual funds and hedge funds plus a lot of unwinding of positions in Futures segment. The market is yet to find a direction but today we expect some pull back. Try to buy select stocks at lower levels. The markets are expected to give a pull back today. Watch for the following stocks.
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