Ø Nifty made an impressive start but had given much of its gains by the latter half of the session. Its immediate support on the downside is 5970-80 from where it could be expected to bounce up. As we have been maintiaining, intermittent corrections of 1-2% is expected along the way till Nifty reaches its target of 6250 ( +/- 50 pts.).
Ø Nifty's resistance for 28/09 is likely around 6080 & 6100.
Ø A quick recap - we had identified LIC Hsg Fin. long time back as one of the chartbusters and it still seems to have enough steam left - its first target is 1450 and corrections are an opportunity to enter.
Ø Similarly, Tata Steel is a good investment candidate even at current levels. Other scrips like Bajaj Auto, SBI, HDFC continue to do well. JSW Steel has a target of 1350 and then 1390 and if it closes above 1390 for two consecutive days, it can move up by a minimum of Rs.200. Hindalco's next target is 210.
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