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Markets Take A Breather

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It’s about time markets finally took a breather from all that running up. According to my past assessment of the chart, the markets should have taken a fall two weeks ago, but the rally has held out that much longer. That only goes to prove, time and time again, that investing in the market is a beast that is best tamed for work by more of strategy and less of prediction.

My strategy for next week is to relax and wait for the market to show some strength. This will most likely come only at the end of the week (Thursday or Friday). Some of the best techniques of investing are to learn when to trade and when to wait for an opportune moment to strike - this week looks to be more of a time to wait.

Many stocks would present good buying opportunities if Nifty falls 100- 150 points this week.
Nevertheless, here are some interesting stocks we can keep an eye on:

Reliance Industries
The 40th Annual General Meeting of the company will be held on June 18, 2014 in Mumbai.

Hind zinc
Media report indicate that by September-end the government will go in for raising upto Rs 20,000 Crores through stake sale in company and upto Rs 2,000 Crores via stake sale in Balco.

Idea Cellular

RBI says FIIs, through primary market and stock exchanges, can now purchase up to 49 percent equity stake in company under the portfolio investment scheme.

Power Grid
The company seeks shareholders' approval to raise up to Rs 13,500 crore via NCDs in FY15 and for Rs 3,000 crore loan guarantee for Vizag unit.

HPCL/BPCL/IOC
Media report says, petrol and diesel prices may be hiked by 75 paise per litre each to fund fuel upgrade if the government accepts Saumitra Chaudhuri panel report - Auto Fuel Vision & Policy 2025.

3i Infotech

JP Morgan Clearing Corporation and JP Morgan Securities Plc increased their stake in company to 8.61 percent from 4.71 percent by buying 3.9 percent equity for more than Rs 572 crore.

Recommendations made last week

Lupin: +1 per cent

Wipro: Still holding, raise stop loss to entry point at 520

Glenmark: +2.1 per cent


Recommendations This Week

Infosys (NSE: INFY)
Action: Buy (limit order) at 3270, stop loss to be placed at 3140. Target for this trade is 3357.
Timeframe: 4-6 days

ITC (NSE:ITC)

Action: Buy (limit order) at 343, stop loss to be placed at 336. Target for this trade is 350.
Timeframe: 4-6days

Trade Well
•    Until you become an experienced trader, do not risk more than your disposable income.
•    Risk no more than 0.5 - 1 per cent of your capital per trade by adjusting position size to risk.
•    Profit percentages mentioned in the column are before deduction of brokerage, taxes and slippage. That’s because each broker charges at different rates.
 
Prateek Singh is CEO, MarketScientist
http://www.marketscientist.in