Sensex is now in new virgin territory and no negative signals in the horizon except political noise. We think the whole Indian Stock market has been re rated by FIIs otherwise such rapid moves in the market are not possible. Technically we maintain our long term (or should we call it medium term now with such rapid movement) sensex given in the month of July and updated in the chart above. We firmly believe this leg target of 18320+ is where sensex is headed, possibly with little consolidation and minor corrections.
HDFC
HDFC achieved its first target of 2270+ and before we could publish our second target of 2500+ it even crossed that. We now give its third target of 2800+. Such rapid movements in this stock are rarely seen.
Our other stock Whirlpool achieved its first target of 46+ and is now headed for second target of 60+, RNRL moved from 42 to 100+ and gave no time to revise targets, Sterlite has achieved target of 775, India Glycol moved from 170 to 280+ Zuari achieved first target of 300 and cooling heels now, our last stock Hindustan Zinc is up 7%+ but Apollo Tyres is yet to achieve first target (tyre me hava kum hai?) it should move around results time.
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