IDEA - what an Idea Sirji!!

The NIFTY rallied another 90+ points and I presume there would be an equally large smile on Pranab Da's face!! So much of a rally in two days - without doing anything in the budget!!

Well, traders watch out for the 5065 resistance. This level may be used to book profits on current longs. On lower side, intraday break below 4990 must be your stop.

Some midcaps which were sideways before the budget, have started their directional journey... One of them which I was watching closely was IDEA CELLULAR.



Medium term investors may want to buy the stock on a break above Rs 63.50 and hold it with a stoploss of Rs 55. Expect targets near to Rs 78 - 83 in the medium term... (i don't expect quick gains here)

The mid caps are not turning madcaps and hence players and traders may still keep a watch out for such stocks for 12-15% moves ...

And yes don't forget to 'take' your profits home!

CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.
www.investogyan.com