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
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