Gujarat NRE Coke has come out of a strong consolidation since last six months in the range of Rs 55-65. Now, the stock has broken the range, and it is likely to move into the next orbit crossing Rs 90 sometime this quarter, helped by increasing met coke prices. We are long term investors in this stock, and it also provides a good trading opportunity.
Category Archives: Stock Trading
2011 likely to be good for stock markets
Our analysis says we are likely to see positive moves in most of the global stock markets in the first half of 2011. The first half of 2011 will be volatile with upwards bias, and the second half will have a downward bias.
Indian Stock Market: Both FIIs and DIIs are Selling
For the last two days (Dec 6 and Dec 7), something uncommon is happening in the Indian Stock Market: Both FIIs and DIIs are selling! (Dec 6: 500 crore net sell; Dec 7: 1000 crore net sell). This is uncommon because one of the two parties usually acts as net buyer when the other party is net seller.
In an entire year, we may not see more than 10-15 such days. It means all large players are seeing a need to cut their equity positions for whatever reasons. Till the FIIs start buying, we urge our readers to be cautious and not buy any new stocks or buy any new stocks at higher end of valuation like 52 week high, because profits are being taken out across the board. The best confirmation to start buying is when the FIIs start buying since they contribute to about 67% of the Indian stock market volume.