Exit polls will bring cheer…Bulls to take charge

Last evening the assembly polls concluded.  Exit polls conducted by various media agencies seem to indicate a strong showing for BJP and the SGX Nifty is already indicating a Nifty up move of over 100 points!

Friday would bring data from the US markets in the form of non-farm payroll data, which will influence the QE tapering view the global markets will have, also on Sunday we would know the assembly election result…but today the markets are likely to ignore all such caution and seems ready to cheer the exit poll indications.

I would recommend that some of the profits be taken off the table, simply because the event risk is too high. That said, get ready to enjoy the ride!

For the game my picks for the day are:

Two sells
Voltas  tgt 110  sl 113.8
Crompton Greaves  T 120.5   sl 125
Two buys
Dish TV  Tgt 62.50  sl 59.8
Aurobindo Pharma   Tgt   317  sl 304

 

 

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