Market View for week 2-6 June: 

Last week we had said that markets may touch all time high. During first half of the week markets have rallied to 7504 and retraced from there and closed at 7230. Our support at 7200 is still intact on closing basis. Markets are now ready for some sort of correction. 

View: After big rally markets seem to be exhausted. Nifty is trading choppy for last few trading sessions. RBI policy is scheduled on 3rd June. Markets are waiting for policy decisions. Markets are also waiting for important announcement from new governement. 

Short Term (Few days to a Week) : Markets may see a correction and can come down to its next support levels of 7110-7015 and at 6880. Resistance is in the range of 7330-7350 

Medium Term (Few weeks to a month): I maintain bullish view in medium term. People are buying at every decline. Statistics suggest that, after a small correction rally may continue. 

 Long Term (Few months to Year): Bullish view is maintained. We may experience unprecedented investment opportunities in year/s to come.   

Trading View: Buying in Nifty Future is advised on declines near support  

                                                                                                                               

 View on Sectorial Indices:  

In last one week all 3 indices i.e. IT, Pharma and FMCG has found support. Cement is expected to continue its rally on upside. Most stocks from these sectors have started moving up. In coming week we see buying opportunities in these 3 sectors. One may trade in stocks like Ambuja, Biocon, Colpal, Hindunilever, Cipla, Dabur, DivisLab, DrReddy, Glennmark, Grasim, HCLTech, TechM, JubFood, Sunpharma. 

Other indices are in consolidation or correction. Wait patiently for the stocks to come to the support levels. Oil and Gas sector may see sharper correction. 

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Recommendations of the week: 

COLPAL(Buy) - Buy Colgate Palmolive near 1380 for target of 1410. Maintain stop loss at 1365 

HINDPETRO(Sell) - Sell at CMP of 400.65 for target of 390-385. Maintain stop loss at 410 

HCLTech(Buy) - Buy near 1415 for target of 1450. Maintain Stop loss at 1400                          

For any clarifications on these recommendations , you may mail us on bonvistaplanners@gmail.com

Market View for week 26-30 May: 

What a welcome to Mr Modi. Markets (Nifty) has rallied 500 points in single day. However closed near its low on 16 May, indicating that the news was already discounted. 17th onwards markets remained range-bound till yesterday, showing some choppiness. This range was broken on upside on last trading day on Friday(today), 23rd May, indicating that there is more 'Steam' 

For the week to come, we have bullish view on Nifty. Nifty is heading to re-test the all time high at 7563. Currently Nifty has support at 7200. Resistance at 7560. If 7560 is broken on upside, markets may test 7800. 

We have been consistently saying that we are in bull run. We maintain our view. In medium term markets may rally to new highs, creating unseen investment opportunities for investors.  Your job is to invest, maintaining good diversification and prudent money management.       

                                                                                                                               

 View on Sectorial Indices:  

We have bullish view on all the sectors except IT, Pharma and FMCG for coming week 

A word of caution of traders- markets are trading at all time high. The up rally has been one way and extended. One should trade only on long side, but with a strict stoploss in place. 

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Recommendations of the week: 

GRASIM(Buy) - Buy GRASIM at current level of 3001 for target of 3080. Maintain stoploss at 2960 

HEROMOTOCO(Buy) - Buy at CMP of 2349 for target of 2425. Maintain stoploss at 2305 

LICHSGFIN(Buy) - Buy at CMP of 329.15 for target of 340. Maintain Stoploss at 321                          

For any clarifications on these recommendations , you may mail us on bonvistaplanners@gmail.com

Market View for week 12-16 May: 

Our support of 6640 is held nicely by Nifty. And it is from this level that we have seen that awesome rally of 200 points on Friday 9th May. While Bank Nifty and Sensex have closed at their all time high, Nifty has shied away from breaking that level. 

As I written in my earlier posts we have seen couple of Roller Coaster rides. We may see some more.  

While there is no doubt that we are long term bull market, the short period to come may see lot of volatility and price fluctuations.  

On long side our first target for Nifty is 7300. Sooner or later we shall see this target.  

Both short term and long term trends are up.  

Traders should catch the moves on momentum. Undoubtedly the momentum is on upside. However in week to come the trades shall with a high risk. Have strict stoploss in place. 

Investors, wait patiently for a correction. On a good dip, buy for good long term bets.                                                                                                                                                                                                                                                                                                                              

 View on Sectorial Indices:  

We have bullish view on Bank Nifty, Finance, PSU stocks, Infra, Oil and Gas and Energy sector. You go long in many Banking and NBFC stocks like LICHF, Sriram Transport, PNB, BankBaroda, JPPower, Relinfra, Bhel, Coal India and BPCL 

IT, Media and Pharma are subdued and have not participated in the bull market so far. While IT had resistance to move up, Media and Pharma are probably waiting for their turn to catch the momentum.  

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Recommendations of the week: 

PTC (Buy) - Buy PTC at current level of 67.3 for target of 70. Maintain stoploss at 65.5 

ADANIENT (Buy) - Buy at CMP of 432.15 for target of 450. Maintain stoploss at 425 

CANBK (Buy) - Buy at CMP of 286.40 for target of 300. Maintain Stoploss at 272                          

For any clarifications on these recommendations , you may mail us on bonvistaplanners@gmail.com

Market View for week 5-9 May: 

We have seen correction (Small downward movement) from 6870 to 6650. This is almost 200 points from all time high. We had said that markets have mild support at 6640. Markets are still holding on to this level.  

The question is whether this correction over? Well we do not know, for sure. But, looking the way markets rallied from 6000 to 6800, I feel the correction can be deeper than current levels. We may see lower levels. Before moving further down market may see a small pullback. The resistance comes at 6790. The strong support emerges in the range of 6530 and 6430.   

Long term trend is up. However for short term we may see some slide. 

Lot of choppiness is expected in due to mega event of the election results.  

 Long term investors should look to buy on deeps. Many Mid Caps are available at attractive valuations. 

Traders should try to take advantage of small moves. During times like this (high volatility expected) the portfolio should be hedged. Traders can build short term Sell positions. But these positions should be hedged with some long calls.                                                                                                                                                                                                                                                                                                                    

 View on Sectorial Indices:  

IN coming week, IT can seem some upward momentum. Very short term buying can be done in stocks like TechMahindra, Wipro, TCS, HCLTEch. Bank Nifty is facing resistance at 13224-13415.  PSU Banks are looking good.  

Metals are in for a deeper correction. We can see furthter slide in Metals in coming week.  

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Recommendations of the week: 

Ambuja Cement (Buy): Ambuja Cement found support near 196. Buy Ambuja at Cmp of 201.9 for a traget of 210. Maintain stoposs at 196 

Idea (Sell): Idea correcting and moving down to it strong support near 129. Sell idea near CMP of 134.20 for a target of 130 

CAIRN (Buy): Cairn has seen sharp correction in last week. Now it is trading at its support. One can buy Cairn with stoploss of 328. Enter at around 332 for a target of 342.                                                      

For any clarifications on these recommendations , you may mail us on bonvistaplanners@gmail.com