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Sensex short-term target seen at 15,000, Nifty could hit 4,300-4,330 & consolidate at 4,400: JMMS Tech

Tuesday, June 26, 2007

Gautam Shah, Technical Analyst of JM Morgan Financial Services says market bounced back from support level of 14000 on Sensex. Market is looking more comfortable with good volumes. Sensex short-term target is at 15000, which could be achieved in 2-3 weeks. We well update short-term target once Sensex hits 15000-15200.

Nifty could hit 4300-4330 and than consolidate to hit 4400. 4180-4200 is a good support zone for Nifty. We would not like to initiate short positions. We like to go long in the market. We will carry forward positions in next series.

Auto, Tech stocks have potential to go up due to under performance in past. Midcap and small cap sectors are likely to outperform. Midcap and small caps can gain 10-12% in 3-4 weeks. We will stay away from FMCG stocks like HLL, ITC and we will also stay away from oil and marketing companies due to rising crude prices. Indian markets are following global markets.

Posted by FR at 5:35 PM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.