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

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:
ACC: ACC is facing strong resistance in 1350-1400 area on weekly chart. Cmp is at 1310. We recommend to sell ACC when trading at 1335-1350 for target of 1280. Maintain Stoploss at 1370.
Bata: Bata is trading near its support. Buy Bata near 1085 for target of 1140. Maintain stoploss at 1055
Mcleod Russel: Mecleod Russel found support at 267. Currently it is trading at 284. Buy this stock when trading near 275-250 level for target of 288. Maintain stoploss at 275
Following is the short term view on few stocks:
Bullish: Allahabad Bank, Dr Reddy, Zee, Yes Bank, UPL
Bearish: Asian Paint, Grasim, Adanipower.
For any clarifications on these recommendations , you may mail us on bonvistaplanners@gmail.com

Market View for week 29 Apr-2 May:
Last week we had suggested to start booking profits in long positions. Yesterday, the last day of week markets have seen a sharp correction. After touching intraday high of 6870 markets closed near of low of the day at 6783
In coming week/month we may see lot of volatility in market. As we get closer to election vote counting date, markets will tend take frequent Rollers Coaster rides. Prices in individual stocks may experience price fluctuations. While there is no change in trend, Traders need to be cautious during this period.
The long term trend is up. How ever we can see a correction for week/s to come. The weekly and daily patterns of charts are suggesting that. Traders can build very short term Sell positions or wait patiently for the correction to get over and then buy on deeps.
The resistance comes at 6820 and next (mild) support levels are at 6775 and 6640. Major support comes at 6532

 View on Sectorial Indices:
Last week Auto and Metal sectors have seen nice appreciation. For coming week my picks are Pharma and Media sector. You may be a buyer in stocks like Dr Reddy, Sunpharma, Aurobindo Pharma, Ranbaxy and Glenmark, Zee and Suntv
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Recommendations of the week:
ACC: ACC is facing strong resistance in 1350-1400 area on weekly chart. Cmp is at 1310. We recommend to sell ACC when trading at 1335-1350 for target of 1280. Maintain Stoploss at 1370.

Bata: Bata is trading near its support. Buy Bata near 1085 for target of 1140. Maintain stoploss at 1055

Mcleod Russel: Mecleod Russel found support at 267. Currently it is trading at 284. Buy this stock when trading near 275-250 level for target of 288. Maintain stoploss at 275

Following is the short term view on few stocks:
Bullish: Allahabad Bank, Dr Reddy, Zee, Yes Bank, UPL
Bearish: Asian Paint, Grasim, Adanipower.
For any clarifications on these recommendations , you may mail us on bonvistaplanners@gmail.com

Market View for week 21-25 April: 

Last week we had said that there is no reason to worry about small corrections. The markets have bounced back from the support of 6650 as mentioned in our last post. Today (17th April) 'Bulls' have proved the their strength once again. The markets(Nifty) rallied up by 104 points to close at 6779.  

The resistance at 6820 is yet to be broken, but should be an effortless job for markets. 

We have F&O expiry in coming week. We expect the markets to remain cheerful throughout the week. However there would be profit booking on Wednesday and Thursday. Hence the markets can be choppy on these 2-3 days. 

If you hold a position in Nifty Futures (assuming that you would have bought index during the dip), start booking profits Monday onward.                                                                                                                         

Nifty Daily Chart

 View on Sectoral Indices: For the week to come we have positive view on FMCG, Auto and Metal sectors. Look for buying opportunities in some stock from these sectors. To name few- you have trades in Hindunilever, ITC, M&M, Heromotocorp, Bajaj Auto, SSLT, JSWSteel etc. 

I will upload the stock specific recommendations by tomorrow(18th April). 

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