SHORT TERM TRADES; CENTURY TEXTILES, ZEE ENT, TATA STEEL, TATA MOTORS, BHEL, GMR INFRA

CENTURY TEXTILES

1. BUY at cmp 249
2. Keep a stop loss at 233 closing basis
3. Targets are 251, 255, 258, 260, 265
4. 4-5 weeks

FIRST FOUR TARGETS HIT BY 4/10/2013
ALL TARGETS HITBY 8/10/2013

ZEE ENTERTAINMENT:

1. BUY at cmp 238
2. Keep a stop loss at 220 closing basis
3. Targets are 242, 246, 249, 253, 257, 260
4. 4-5 weeks 

FIRST THREE TARGETS HIT BY 4/10/2013
TARGET 253 HIT ON 7/10/2013
ALL TARGETS HIT BY 21/10/2013

TATA STEEL:

1. Buy at cmp 287
2. Keep a stop loss at 270 closing basis
3. Targets are 292, 295, 299, 302, 306, 310
4. 4-5 weeks

TARGET 292 HIT ON 4/10/2013
ALL TARGETS HIT BY 10/10/2013

TATA MOTORS:

1. BUY at cmp 339
2. Keep a stop loss at 315 closing basis
3. Targets are 342, 344, 347, 353, 357, 360
4. 4-5 weeks

ALL TARGETS HIT BY 4/10/2013

BHEL:

1. BUY at cmp 143
2. Keep a stop loss at 125 closing basis
3. Targets are, 146, 149, 153, 157, 161
4. 4-5 weeks
5. This one is a bit of a risky punt currently, fundamentally it has nothing going for it, but technically the above targets are possibly in the mentioned time frame.

TARGET 146 HIT BY 4/10/2013, TARGET 149 HIT ON 10/10/2013

GMR INFRA:

1. BUY at cmp 22.1
2. Keep a stop loss at 20 closing basis
3. Simple target 25
4. 4-5 weeks

Before I sign off, a word of caution; the current macro-economic elements are pointing towards increased volatility on the Indices going ahead. The Rollovers from the September series to the October series have been on the long side, we saw the Nifty Futures trading at a significant premium on the first day of the October Series ie 27/9/2013, but we closed the day ie 27/9/2013 at 5833, below the 200 SMA which is at 5841. This could cause more downside in the immediate short term. We already have analysts talking about NIFTY 5500, just as we had them talking about 6300 on 19/9/2013 after the Taper reprieve.

In my considered opinion, this is exactly why 5500 NIFTY won't happen, just as 6300 did not!!! But all the same, we need to be cautious while going long / taking Buy positions in the Cash Segment. Key levels to watch out for on the downside are 5790 and 5695 which correspond to 61.8% retracement and 50% retracement respectively, of the recent big upmove. I think, we should get durable support in the 5700 - 5750 range. Fingers crossed!!

We have had good success with some of our earlier Trading ideas. Some of the Calls are possibly still open. You can peruse all of them RIGHT HERE