Strike the markets like a Ninja

The Nifty is on a run and catch it if you can. My intuition tells me that those who run long along with the Nifty will stand to gain. Those who are into Futures will stand to gain immensely in the weeks to come – Patience is the watch word.

The Nifty has support at 6074 and 6046 respectively. Once Nifty crosses first resistance of 6118, expect it to go close to 6125. And once it goes past 6135, expect Nifty to go beyond 6200. The Nifty ended rested at 6105.85, up by 41.50 points.

Today, just on the eve of the New Year, Tata Motors rested at Rs.1300.15, up by Rs.26.30. Hero Hendo gained Rs.37.40 to close at Rs.1993.65. In the banking space Axis Bank [ up by Rs.21.40 ] and ICICI Bank [ up by Rs.7.40 ] were gainers whereas SBI, PNB, HDFC Bank and Kotak Bank were losers.

Amongst non-Nifty stocks, Aban Offshore closed smartly at Rs.810.25, up by Rs.42.10. In fact, this is one scrip which has started moving up pretty smartly since the last few days and those who are long on Aban Futures may be smiling and dreaming money virtually everyday. Once Aban crosses by its resistance level of around Rs.850 then it will start quoting in four digits- that’s if oil prices start quoting in three digits per barrel. In this battlefield, those with courage make a killing – and you bet that those who bought even 1 lot of Aban Futures on say this Monday or earlier were indeed courageous.[ 1 lot of Aban is 250 shares entailing a margin of Rs.32718.75 ]. Agreed, playing the Futures market is a high risk, high reward proposition but then fast money cannot be made by taking meek risks.

So, my dear friends don’t forget there is not one way but many ways to make money in this market battlefield provided you have courage, patience and wisdom to know how to go about swinging your sword like a deadly Ninja who knocks off opponents with gracious ease.

Kishor S. Khot, [Kishor@hbjcapital.com], Equity Strategist, HBJ Capital Services Pvt Ltd