Day Two review - Tuesday, 28th May 2013

The market gave everyone a run for their money today. HeroMotoCo and BHEL gained big time and among the top Nifty gainers was ONGC! As mentioned in an earlier post, I covered one lot of ONGC at 330. That is a total profit of Rs. 8500.

I didn't trade today and I don't think I will be trading tomorrow either, but I will give out my calls for tomorrow. 

Today, I gave out these calls and one of them was almost spot on:

1. Buy BhartiArtl, Entry: 310. Target 320. Stop Loss: 304.

BhartiArtl

Bharti touched a day low of EXACTLY 310. Damn I love it when the entry and exit points are spot on. It makes your trades less risky and I believe it is almost always possible to get the perfect entry points. Anyway Bharti made a day high of 317.4 and closed at 314.8, which is still on track towards the target. Can hold for 320+ tomorrow.

2. Sell Hindalco, Entry 112. Target 106, 104. Stop Loss 114.

Hindalco

I gave a safe entry point of 112 even though Hindalco didn't go over 111 today. For those who actually sold Hindalco futures at around 110, tomorrow might be their lucky day. Hindalco came out with their annual reports today and it wasn't a pretty picture. I expect to see it open with a gap down tomorrow. 

I'm happy with the way things are turning out. So far I've been right about my targets 4/4 times with the exception of Hindalco. Let's see what's in store for tomorrow. Have a good evening folks. 

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