The Bulls commanded by wrapping up over 100 points gain in theNifty. Markets were jittery ahead of the RBI policy but held onabove the 5073 points (S1). Positive outcome of the policy andanother for the IT pack set the ball rolling for the Bulls. Amongsectors Banking, IT and Realty stocks rallied and with Reliancejoining the bandwagon we saw smooth transit upto 5200 points. TheA/D ratio was positive with increase in the volumes.Target of 5220 points (breakout above the 4620-4920 points range)was almost achieved while the monthly R2 at 5237 is at a strikingdistance. If it sustains above 5237 points, next level is at 5302-5335points. Genuine profit taking if any should not decisively breach4989-4998 points zone for the upward bias to remain intact.Intraday, the 5164 points is the pivot in the Nifty. Resistance onthe upside is pegged at 5243 and up at 5285-5303 points area.Crucial sup port is at 5115 points while the Bears need to breakbelow 5073 points to threaten the Bulls. Auto stocks are stilllagging; a catching up action is expected. Those holding longsshould follow up with trailing stop loss.
Tuesday, April 29, 2008
Zee Ent Buy in dips
CMP: 214.05
Tgt: 224 & 236
The daily candlestick chart of Zee Ent shows a vertical fall from Rs.245 to Rs.206. For
the past couple of sessions it is holding above Rs.210. The downward risk appears to
be limited. One can buy in declines around Rs.210-212 with a strict stop loss
below Rs.204 (preferably in close) for a pullback to Rs.224 which if sustained
Rs.236 in the next 2-3 weeks.
* Avoid gap openings and trade in cash in small quantities.
=======================================================
Jyoti Struc Buy for ST
CMP: 176.65
Tgt: 185 & 198
The daily candlestick chart of Jyoti Structures shows a pullback after breakout above
the range of Rs.150-172. As long as it holds above Rs.172 in close the bias remains up.
One can buy in declines around Rs.171-174 with a strict trading stop loss
below Rs.167 for a pullback to Rs.185-186 in the next 5-6 trading sessions
and Rs.198-205 (stop loss at 158) in the next 2 -3 weeks.
* Avoid gap openings and trade in cash in small quantities.
=========================================================
CMP: 214.05
Tgt: 224 & 236
The daily candlestick chart of Zee Ent shows a vertical fall from Rs.245 to Rs.206. For
the past couple of sessions it is holding above Rs.210. The downward risk appears to
be limited. One can buy in declines around Rs.210-212 with a strict stop loss
below Rs.204 (preferably in close) for a pullback to Rs.224 which if sustained
Rs.236 in the next 2-3 weeks.
* Avoid gap openings and trade in cash in small quantities.
=======================================================
Jyoti Struc Buy for ST
CMP: 176.65
Tgt: 185 & 198
The daily candlestick chart of Jyoti Structures shows a pullback after breakout above
the range of Rs.150-172. As long as it holds above Rs.172 in close the bias remains up.
One can buy in declines around Rs.171-174 with a strict trading stop loss
below Rs.167 for a pullback to Rs.185-186 in the next 5-6 trading sessions
and Rs.198-205 (stop loss at 158) in the next 2 -3 weeks.
* Avoid gap openings and trade in cash in small quantities.
=========================================================
Thursday, April 24, 2008
S&P Nifty (4999.85 points) (-22.95 pts)
The Nifty hit R1 (5071) in the morning trade but later failed tosustain above the pivot at 5054 profits (also weekly R1 at 5059).Intraday Bulls had no choice but to give up in the end. Reliancegroup continued to be under selling pressure while IT, Power andCGS stocks tried their best to hold the Indices up. In the end theNifty at the day’s low. The volumes were poor on the last day ofApril derivatives expiry and the A/D ratio was marginally negative.Resistance line of the channel in pink is proving to be crucialbottleneck. It testing time for the Bulls as sustainability is aquestion. As long as it holds above 4915 points it would be treatedas running correction but a decisive breach of it would truncate theup move for the time being. Resistance at 5115 points needs to becrossed for fresh up move. Trendline support in green is at 4788points.Intraday, the 5021 points is the pivot in the Nifty. It has to hit ahigh or 5062 points for further upside. Immediate support is at 4988points while crucial support is at 4925-4936 points. We are seeingsmall bodies with upper shadow in the Nifty indicating profit takingat higher levels. Trade with caution as the struggle is on!!!* For only those holding longs in Nifty: It is better to hedge Niftylongs by selling 5100 calls (CMP 120) with 50 points stop loss.
Tech M (200)
Buy Ltp : 805.60
Tech M, after improving substantially from alevel of Rs.608.10 to a high of Rs.950, has reactedto a level of Rs.805.60. At the current price ofRs.805.60, it is trading in 5F ZONE i.e. short termaverage has moved above the medium term averagewhich in turn remains below the long term averageand the current price is placed between short termand medium term averages. High risk traders canbuy in the range of Rs.790-800 with a stop lossbelow Rs.780 in close for a conservative uppertarget of Rs.865 and an optimistic upper target ofRs.880. Holding period can be 7-8 days.
Buy Ltp : 805.60
Tech M, after improving substantially from alevel of Rs.608.10 to a high of Rs.950, has reactedto a level of Rs.805.60. At the current price ofRs.805.60, it is trading in 5F ZONE i.e. short termaverage has moved above the medium term averagewhich in turn remains below the long term averageand the current price is placed between short termand medium term averages. High risk traders canbuy in the range of Rs.790-800 with a stop lossbelow Rs.780 in close for a conservative uppertarget of Rs.865 and an optimistic upper target ofRs.880. Holding period can be 7-8 days.
Mah Seamless Buy in dips
CMP: 291.10
Tgt: 305-312 & 332
The daily candlestick chart of Mah. Seamless shows a gradual fall from Rs.329-277.50. Yesterday we are seeing a gravestone doji type formation. The downward riskappears to be limited. One can buy preferably in declines around Rs.283-285with a strict stop loss above Rs.274 (preferably in close) for a pullback toRs.305-312 which if sustained Rs.332 in the next 2-3 weeks.
* Avoid gap openings and trade in cash in small quantities.
=================================================
Mphasis Buy in dips
CMP: 220.00
Tgt: 235-242
The daily candlestick chart of Mphasis shows profit taking after a rally from Rs.174.As long as it holds above Rs.212 the bias is up; hence the downward risk is minimal.High risk traders can buy in declines around Rs.214-217 with a stricttrading stop loss below Rs.207 for a pullback to Rs.235-242 in the next 2-3weeks.* Avoid gap openings and trade in cash in small quantities.
==========================================
Patni Buy
Ltp : 250.05
Patni, after improving from a low of Rs. 190.50 to ahigh of Rs.286.95, has reacted moderately to a level atRs.250. At the current price of Rs.250.05, it is tradingin 5F ZONE i.e. short term average has moved abovethe medium term average which in turn remains belowthe long term average and the current price is placedbetween short term and medium term averages. Highrisk traders can buy in the range of Rs.242-247 with astop loss below Rs.237 in close for a conservativeupper target of Rs.268 and an optimistic uppertarget of Rs .280. Holding period can be 7-8 days.
=======================================
Tata Tea (275)
Ltp : - 856.75
Tata Tea, after improving from a low of Rs.747.25 toa high of Rs.924.65, has reacted moderately to a levelof Rs.856.50. At the current price of Rs.856.75 it istrading in 1BZONE i.e. all the averages are in BULLPHASE and the current price is between short termand medium term averages.High risk traders can buy in the range of Rs.840-850with a stop loss below Rs.830 in close for aconservative upper target of Rs .895 and anoptimistic upper target of Rs.910. Holding periodcan be 7-8 days.It is an out performer against the NIFTY.
=======================================
TCS(250) Buy
Ltp :896
TCS, after improving substantially from a low ofRs.740 to a high of Rs1035 has reacted to a level ofRs.871. At the current price of Rs.896, it is tradingin 5F ZONE i.e. short term average has movedabove the medium term average which in turnremains below the long term average and thecurrent price is placed between short term andmedium term averages. High risk traders can buyin the range of 882-892 with a stop loss belowRs.872 in close for a conservative upper target ofRs.935 and an optimistic upper target of Rs.950.Holding period can be 7-8 days.
========================================
CMP: 291.10
Tgt: 305-312 & 332
The daily candlestick chart of Mah. Seamless shows a gradual fall from Rs.329-277.50. Yesterday we are seeing a gravestone doji type formation. The downward riskappears to be limited. One can buy preferably in declines around Rs.283-285with a strict stop loss above Rs.274 (preferably in close) for a pullback toRs.305-312 which if sustained Rs.332 in the next 2-3 weeks.
* Avoid gap openings and trade in cash in small quantities.
=================================================
Mphasis Buy in dips
CMP: 220.00
Tgt: 235-242
The daily candlestick chart of Mphasis shows profit taking after a rally from Rs.174.As long as it holds above Rs.212 the bias is up; hence the downward risk is minimal.High risk traders can buy in declines around Rs.214-217 with a stricttrading stop loss below Rs.207 for a pullback to Rs.235-242 in the next 2-3weeks.* Avoid gap openings and trade in cash in small quantities.
==========================================
Patni Buy
Ltp : 250.05
Patni, after improving from a low of Rs. 190.50 to ahigh of Rs.286.95, has reacted moderately to a level atRs.250. At the current price of Rs.250.05, it is tradingin 5F ZONE i.e. short term average has moved abovethe medium term average which in turn remains belowthe long term average and the current price is placedbetween short term and medium term averages. Highrisk traders can buy in the range of Rs.242-247 with astop loss below Rs.237 in close for a conservativeupper target of Rs.268 and an optimistic uppertarget of Rs .280. Holding period can be 7-8 days.
=======================================
Tata Tea (275)
Ltp : - 856.75
Tata Tea, after improving from a low of Rs.747.25 toa high of Rs.924.65, has reacted moderately to a levelof Rs.856.50. At the current price of Rs.856.75 it istrading in 1BZONE i.e. all the averages are in BULLPHASE and the current price is between short termand medium term averages.High risk traders can buy in the range of Rs.840-850with a stop loss below Rs.830 in close for aconservative upper target of Rs .895 and anoptimistic upper target of Rs.910. Holding periodcan be 7-8 days.It is an out performer against the NIFTY.
=======================================
TCS(250) Buy
Ltp :896
TCS, after improving substantially from a low ofRs.740 to a high of Rs1035 has reacted to a level ofRs.871. At the current price of Rs.896, it is tradingin 5F ZONE i.e. short term average has movedabove the medium term average which in turnremains below the long term average and thecurrent price is placed between short term andmedium term averages. High risk traders can buyin the range of 882-892 with a stop loss belowRs.872 in close for a conservative upper target ofRs.935 and an optimistic upper target of Rs.950.Holding period can be 7-8 days.
========================================
Wednesday, April 23, 2008
S&P Nifty (5022.80 points) (-26.50pts)
It was lackluster trading session ahead of April F&O expiry. Aftermorning volatility, the Nifty remained range bound through out theday. Stock specific action was seeing in the front line while profittaking was seen in select Midcap stocks. Post results Reliance isunder selling pressure thereby dragging the Indices down. ONGC,Infosys, HUL and Tisco stood by the Bulls. The A/D ratio was flatwith no significant change in the volumes.Yesterday the Nifty hit R1 at 5084 points and bounced exactly fromS1 support at 5003 points. After a sharp pullback we are seeing twosmall candles indicating equilibrium among the Bulls and theBears. The Bulls have to negotiate hard to cross the strong supplyarea at 5092-5115 points. It is getting support from the resistanceline of the channel in pink. One should be cautious if the Niftystarts sustaining below it (4987). Trendline support in green is farbelow at 4785 points.Intraday, pivot in the Nifty is pegged at 5054 points. Resistance isat 5074-5092 and up at 5115 points while crucial support in declinesis at 4988-4998 points. A cold war is on for the short termsupremacy; it’s better to take profits regularly or keep positionsprotected. Markets are expected to remain choppy on the last day of
Escorts Buy in dips
CMP: 102.20
Tgt: 109-114
The daily candlestick chart of Escorts shows that a rise from Rs.88-107. Yesterdaysome profit taking was seen. As long as it holds above Rs.92, the bias is up. One canbuy preferably in declines around Rs.98-100 with a strict stop loss aboveRs.94 (preferably in close) for a pullback to Rs.109-114 and Rs.123 in thenext 2-3 weeks.
* Avoid gap openings and trade in cash in small quantities
=====================================================
M&M Buy in dips
CMP: 630.05
Tgt: 657-672
The daily candlestick chart of M&M shows that it is moving sideways after a fall fromRs.718 to Rs.594. Trendline support in blue is pegged at Rs.603 while the oscillatorsare above the median line. One can buy in declines around Rs.620-625 with astrict trading stop loss above Rs.613 for a pullback to Rs.657 and Rs.672-683in the next 2-3 weeks for which the stop loss is at Rs.603 in close.* Avoid gap openings and trade in cash in small quantities.
=====================================================
CMP: 102.20
Tgt: 109-114
The daily candlestick chart of Escorts shows that a rise from Rs.88-107. Yesterdaysome profit taking was seen. As long as it holds above Rs.92, the bias is up. One canbuy preferably in declines around Rs.98-100 with a strict stop loss aboveRs.94 (preferably in close) for a pullback to Rs.109-114 and Rs.123 in thenext 2-3 weeks.
* Avoid gap openings and trade in cash in small quantities
=====================================================
M&M Buy in dips
CMP: 630.05
Tgt: 657-672
The daily candlestick chart of M&M shows that it is moving sideways after a fall fromRs.718 to Rs.594. Trendline support in blue is pegged at Rs.603 while the oscillatorsare above the median line. One can buy in declines around Rs.620-625 with astrict trading stop loss above Rs.613 for a pullback to Rs.657 and Rs.672-683in the next 2-3 weeks for which the stop loss is at Rs.603 in close.* Avoid gap openings and trade in cash in small quantities.
=====================================================
Maruti Buy Ltp : - 764.35
Maruti, after improving substantially from a low ofRs.752.20 to a high of Rs.936 has sharply to aslightly new lower level of Rs.725.10. At thecurrent price of Rs.764.35, it is trading in 4FZONEi.e. all the averages are in BEAR PHASE and thecurrent price is placed between short term andmedium term averages. High risk traders can buy inthe range of 754-762 with a stop loss below Rs.746in close for a conservative upper target of Rs .790and an optimistic upper target of Rs .805. Holdingperiod can be 6-7 days
Grasim Buy Ltp : - 2678
Grasim, after improving from a low of Rs.2609 to ahigh of Rs.3112, has reacted to a further lower level ofRs.2456. At the current price of Rs.2678 it is tradingin 4FZONE i.e. all the averages are in BEAR PHASEand the current price is placed between short term andmedium term averages. High risk traders can buy inthe range of Rs.2600-2650 with a stop loss belowRs.2550 in close for a conservative upper target ofRs.2840 and an optimistic upper target of Rs.2890.Holding period can be 6-7 days.
Ambuja Cem Buy Ltp : - 115.90
Ambuja Cem, after improving moderately from a lowof Rs. 109.40 to a high of Rs.127.90, has reacted to alevel at Rs.112.25. At the current price of Rs.115.90,it is trading in 4E ZONE i.e. all the averages are inBEAR PHASE and the current price is placed belowall the averages. High risk traders can buy in therange of Rs.113-115 with a stop loss below Rs.111 inclose for a conservative upper target of Rs.123 andan optimistic upper target of Rs .128. Holding periodcan be 6-7 days.
Monday, April 21, 2008
S&P Nifty (5037.00 points) (+78.60 pts)
The Bulls came out of “Monday fear” as the Nifty surged another 70
points at close. After 2 months of wait the Nifty has closed above
the sentimental barrier of 5000 points. Constant selling pressure in
the past month tested the Bulls but they absorbed it in stride
without further damage. It was a team effort with everybody
contributing including some of the select Midcaps. The A/D ratio
was positive at 2:1 while volumes were slightly lower.
As envisaged in the past weekly reports, the Nifty surpassed the 5K
mark, hitting the immediate hurdle at 5040-5070 points. The Bulls
capitalized on the range expansion as it galloped 400 points in just
4 trading sessions. In this process, it has crossed the resistance line
of the channel in pink. Immediate support is pegged from the
trendline in green which is at 4746 points.
Intraday, 5074-5092 points range is the crucial bottleneck in the
Nifty. Pivot for the day is at 5024 points with crucial support in
declines at 4926 points. The Nifty completed the 61.8% retracement
(5024) of the fall from 5368 to 4468 points. It has come out of
sideways range of 300 points (4620-4920) giving a target of 5220
points; but that’s going to be an uphill task from here on. Some
genuine profit taking is expected. A breach of 4888 points would be
a cause of worry for the Bulls but intraday traders should take
profits regularly or protect their open long positions appropriately.
Network 18 Ltp : 225. 30
Network 18, after improving from a low ofRs.281.60 to a high of Rs.405 has reacted to a newlower level of Rs.190.25. It has left behind twouncovered bearish gaps at Rs.250 and Rs.280.25At the current price of Rs.169.90, it is trading in 4EZONE i.e. all the averages are in BEAR PHASEand the current price is placed below all theaverages. High risk traders can buy in the range ofRs.220-224 with a stop loss below Rs.216 in closefor a conservative upper target of Rs.250 and anoptimistic upper target of Rs .262. Holding periodcan be 6-7 days.
Lakshmi Mach Ltp : - 1599
Lakshmi Mach, after improving from a low ofRs.1675 to a high of Rs.2385 has reacted to a newlower level of Rs.1355. It has left behind anuncovered bearish gap at Rs.1855. At the currentprice of Rs.1599, it is trading in 4FZONE i.e. allthe averages are in BEAR PHASE and the currentprice is placed between short term and mediumterm averages. High risk traders can buy in therange of 1560-1590 with a stop loss below Rs.1530in close for a conservative upper target ofRs.1800 and an optimistic upper target ofRs.1920. Holding period can be 6-7 days.
Lakshmi Mach Ltp : - 1599
Lakshmi Mach, after improving from a low ofRs.1675 to a high of Rs.2385 has reacted to a newlower level of Rs.1355. It has left behind anuncovered bearish gap at Rs.1855. At the currentprice of Rs.1599, it is trading in 4FZONE i.e. allthe averages are in BEAR PHASE and the currentprice is placed between short term and mediumterm averages. High risk traders can buy in therange of 1560-1590 with a stop loss below Rs.1530in close for a conservative upper target ofRs.1800 and an optimistic upper target ofRs.1920. Holding period can be 6-7 days.
Indian Bank Ltp : - 156.10
Indian Bank, after improving from a low of Rs.143 toa high of Rs.178, has reacted to a level of Rs.150. Atthe current price of Rs.156.10 it is trading in 4FZONEi.e all the averages are in BEAR PHASE and thecurrent price is placed between short term and mediumterm averages. High risk traders can buy in the rangeof Rs.152-155 with a stop loss below Rs.149 in closefor a conservative upper target of Rs.172 and anoptimistic upper target of Rs.178. Holding periodcan be 6-7 days.
HIND PETRO LTP : -254.75
Hind Petro, after improving from a low of Rs. 212.50to a high of Rs.322.90 has reacted moderately to alevel at Rs.244.10. At the current price of Rs.254.75,it is trading in 4FZONE i.e all the averages are inBEAR PHASE and the current price is placedbetween short term and medium term averages. Highrisk traders can buy in the range of Rs.249-254 with astop loss below Rs.244 in close for a conservativeupper target of Rs.272 and an optimistic uppertarget of Rs .281. Holding period can be 6-7 days.
Tata Steel Futs Protect Longs
CMP: 772.35
The daily candlestick chart of Tata Steel Futs shows a big bullish candle on high
volumes. In the past 7-8 trading sessions it shows a rise from Rs.650-774. In this
process it has touched the resistance line in pink. Those holding longs in Tisco
can protect buy 760 April PA around Rs.7-8 or sell 780 April CA Rs.17-18
with a strict stop loss above Rs.24.25 (preferably in close) Support at Rs.736
needs to be broken for downside while resistance is pegged at Rs.793-798
and Rs.811. Holding till period April expiry.
* Avoid gap openings and trade in cash in small quantities.
Wednesday, April 16, 2008
MTNL Chance Buy CMP: 100.00 Tgt: 108-112
The daily candlestick chart of MTNL shows that it is in the short term downtrend.After a gradual decline from Rs.128 to Rs.92, it is moving sideways in a narrowrange. The downside risk appears to be limited. One can gradually buy aroundRs.98-99 with a strict stop loss below Rs.95.25 in close for a pullback toRs.108-112 in the next 7-8 trading sessions which if sustained in close cantest Rs.115 in the short term.* Avoid gap openings and trade in cash in small quantities.
======================================
Tata Comm Chance Buy CMP: 478.05 Tgt: 495-502
The daily candlestick chart of Tata Comm (VSNL) shows a vertical decline fromRs.585 to Rs.461. In this process it has hit the support line of the channel in blue .High risk traders can buy around Rs.470-474 with a strict stop loss belowRs.463 in close for a pullback up to Rs.498-502 in the next 7-8 tradingsessions which if sustained Rs.523 in the next 2-3 weeks.* Avoid gap openings and trade in cash in very small quantities.
===================================
The daily candlestick chart of MTNL shows that it is in the short term downtrend.After a gradual decline from Rs.128 to Rs.92, it is moving sideways in a narrowrange. The downside risk appears to be limited. One can gradually buy aroundRs.98-99 with a strict stop loss below Rs.95.25 in close for a pullback toRs.108-112 in the next 7-8 trading sessions which if sustained in close cantest Rs.115 in the short term.* Avoid gap openings and trade in cash in small quantities.
======================================
Tata Comm Chance Buy CMP: 478.05 Tgt: 495-502
The daily candlestick chart of Tata Comm (VSNL) shows a vertical decline fromRs.585 to Rs.461. In this process it has hit the support line of the channel in blue .High risk traders can buy around Rs.470-474 with a strict stop loss belowRs.463 in close for a pullback up to Rs.498-502 in the next 7-8 tradingsessions which if sustained Rs.523 in the next 2-3 weeks.* Avoid gap openings and trade in cash in very small quantities.
===================================
S&P Nifty (4887.30 points) (+ 7.65 pts)
The Nifty opened strong and touched the weekly R2 at 4948 points.Profit taking was seen in the second session when it failed to crossthe daily R1 at 4961 points. Infosys led the IT pack along withsupport from Textile, Metal and Pharma stocks. Banking and Oil &Gas sector remained subdued. Action was seen in the select Midcapsegment as is reflected in the A/D ratio (2.5:1). The volumes wereslightly higher than the previous session.We are seeing a “long upper shadow” in the Nifty indicating someselling pressure at higher levels. The Bears are applying theirmight to suppress the rally below 5000 points. Immediate resistanceat 4972 points should be crossed for fresh up move to 5040-5076points (trendline resistance in pink). One should take a freshoutlook if the Nifty sustains at higher levels mentioned above.Trendline support in green is away at 4726 points.Intraday, resistance in the Nifty is pegged at 4972-4992 pointsrange. Pivot for the day is at 4916 points while a decisive breach of4863 points would be an alarm for the Bulls. Crucial support indeclines is at 4826 points. We have seen a 243 points recovery in thepast two days; also today is the 8th day from the recent low of 4628points. Traders should take profits regularly in rallies or continue tohold with a trailing stop loss.NIFTY Intra WeekVolatility 330 pts
S1 - 4616.00 S2 - 4529.35
R1 - 4853.80 R2 - 4948.95
==========================
R1 - 4853.80 R2 - 4948.95
==========================
Monday, April 14, 2008
* ST – Short term, MT – Medium term
S&P Nifty (4777.80 points) (+130.80 pts)
For the week ended, the Nifty moved in narrow range of 150 points.On the first day, the Nifty bounced after testing 4628 points (lastweek’s low) but later both the counterparts held on to their dailysupport and resistance at 4660 and 4815 points. Among the SectoralIndices; Oil & Gas sector rallied which was well supported by othersectors; as a result arresting the downfall. Movement was also seenin select Midcaps. Volumes remained almost the same.Trendline support in blue is now shifted up to 4577 points. Asmentioned earlier, as long as it holds the Bulls need not worry.Weekly support is at 4616 points and the 61.8% retracement (4840)of the recent fall from 4971 to 4628 points is the first hurdle on theupside. Once it is sustained we could see the Nifty testing 4935 and5056-5070 in an optimistic scenario.From an immediate scenario, the Bears need to push the Niftybelow 4616 points to gain upper hand. Failing which could see someshort covering. Immediate support is at 4654 points whileresistance at 4853 points needs to be sustained for upsides. It is aweek of only 3 trading sessions and range expansion is also overdue.The Bulls should capitalize on the opportunity created. Expectmarket to remain swinging and volatile.
===============================
Dena Bank Buy for ST CMP: 52.90 Tgt: 58 & 63The weekly candlestick chart of Dena Bank shows a decline from Rs.99 to Rs.47. Forthe past couple of week the selling pressure appears to be exhausted. It has made abullish candle on decent volumes. One can buy gradually around Rs.50-51 with astrict stop loss below Rs.46.80 in close for a bounce up to Rs.58 in the next 4-5 tradingsessions and 63-67 in the coming 10-12 trading sessions .
=============================================
Bharat Elec Risky Buy CMP: 1172.05 Tgt: 1222-1234The daily candlestick chart of Bharat Elec (BEL) shows a vertical decline fromRs.1538 to Rs.1040. It is facing resistance at Rs.1197; however getting support atRs.1135. It is in a short term downtrend; high risk traders can buy in smallquantities preferably in declines around Rs.1145-1155 with a strict stop loss belowRs.1118 in close for a pullback up to Rs.1222-1234 in the next 3-4 trading sessionswhich if sustained an optimistic target of Rs.1258 in the next 10-12 trading sessions.
====================================
* It is an anticipatory call hence trade in cash and in small quantities.
* ST – Short term, MT – Medium term
====================================
For the week ended, the Nifty moved in narrow range of 150 points.On the first day, the Nifty bounced after testing 4628 points (lastweek’s low) but later both the counterparts held on to their dailysupport and resistance at 4660 and 4815 points. Among the SectoralIndices; Oil & Gas sector rallied which was well supported by othersectors; as a result arresting the downfall. Movement was also seenin select Midcaps. Volumes remained almost the same.Trendline support in blue is now shifted up to 4577 points. Asmentioned earlier, as long as it holds the Bulls need not worry.Weekly support is at 4616 points and the 61.8% retracement (4840)of the recent fall from 4971 to 4628 points is the first hurdle on theupside. Once it is sustained we could see the Nifty testing 4935 and5056-5070 in an optimistic scenario.From an immediate scenario, the Bears need to push the Niftybelow 4616 points to gain upper hand. Failing which could see someshort covering. Immediate support is at 4654 points whileresistance at 4853 points needs to be sustained for upsides. It is aweek of only 3 trading sessions and range expansion is also overdue.The Bulls should capitalize on the opportunity created. Expectmarket to remain swinging and volatile.
===============================
Dena Bank Buy for ST CMP: 52.90 Tgt: 58 & 63The weekly candlestick chart of Dena Bank shows a decline from Rs.99 to Rs.47. Forthe past couple of week the selling pressure appears to be exhausted. It has made abullish candle on decent volumes. One can buy gradually around Rs.50-51 with astrict stop loss below Rs.46.80 in close for a bounce up to Rs.58 in the next 4-5 tradingsessions and 63-67 in the coming 10-12 trading sessions .
=============================================
Bharat Elec Risky Buy CMP: 1172.05 Tgt: 1222-1234The daily candlestick chart of Bharat Elec (BEL) shows a vertical decline fromRs.1538 to Rs.1040. It is facing resistance at Rs.1197; however getting support atRs.1135. It is in a short term downtrend; high risk traders can buy in smallquantities preferably in declines around Rs.1145-1155 with a strict stop loss belowRs.1118 in close for a pullback up to Rs.1222-1234 in the next 3-4 trading sessionswhich if sustained an optimistic target of Rs.1258 in the next 10-12 trading sessions.
====================================
* It is an anticipatory call hence trade in cash and in small quantities.
* ST – Short term, MT – Medium term
====================================
Thursday, April 10, 2008
Buy Grasim Ltp : - 2560
Grasim, after improving from a low of Rs.2501 to ahigh of Rs.3225 has reacted almost to the same level atRs.2491. At the current price of Rs.2560, it is tradingin 4E ZONE i.e. all the averages are in BEARPHASE and the current price is placed below all theaverages. High risk traders can buy in the range ofRs.2500-2550 with a stop loss below Rs.2450 in closefor a conservative upper target of Rs.2750 and anoptimistic upper target of Rs.2800. Holding periodcan be 8-10 days.
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Buy RNRL Ltp: - 98.65
RNRL, after improving from a low of Rs.78.80 toa high of Rs.169.40 has reacted moderately to alevel of Rs.96.95. At the current price of Rs.98.65,it is trading in 4E ZONE i.e. all the averages are inBEAR PHASE and the current price is placedbelow all the averages. High risk traders can buy inthe range of Rs.94-97 with a stop loss below Rs.91in close for a conservative upper target of Rs .112and an optimistic upper target of Rs .120. Holdingperiod can be 8-10 days..
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Buy Jet Airways Ltp : - 540
Jet Airways , after improving from a low of Rs.585.50to a high of Rs.836, has dropped rather sharply to arecent new low level of Rs.506.50 At the current priceof Rs.540 it is trading in 4E ZONE i.e. all theaverages are in BEAR PHASE and the current price isplaced below all the averages. High risk traders canbuy in the range of Rs.525-535 with a stop loss belowRs.515 in close for a conservative upper target ofRs.570 and an optimistic upper target of Rs 585.Holding period can be 8-10 days
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Grasim, after improving from a low of Rs.2501 to ahigh of Rs.3225 has reacted almost to the same level atRs.2491. At the current price of Rs.2560, it is tradingin 4E ZONE i.e. all the averages are in BEARPHASE and the current price is placed below all theaverages. High risk traders can buy in the range ofRs.2500-2550 with a stop loss below Rs.2450 in closefor a conservative upper target of Rs.2750 and anoptimistic upper target of Rs.2800. Holding periodcan be 8-10 days.
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Buy RNRL Ltp: - 98.65
RNRL, after improving from a low of Rs.78.80 toa high of Rs.169.40 has reacted moderately to alevel of Rs.96.95. At the current price of Rs.98.65,it is trading in 4E ZONE i.e. all the averages are inBEAR PHASE and the current price is placedbelow all the averages. High risk traders can buy inthe range of Rs.94-97 with a stop loss below Rs.91in close for a conservative upper target of Rs .112and an optimistic upper target of Rs .120. Holdingperiod can be 8-10 days..
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Buy Jet Airways Ltp : - 540
Jet Airways , after improving from a low of Rs.585.50to a high of Rs.836, has dropped rather sharply to arecent new low level of Rs.506.50 At the current priceof Rs.540 it is trading in 4E ZONE i.e. all theaverages are in BEAR PHASE and the current price isplaced below all the averages. High risk traders canbuy in the range of Rs.525-535 with a stop loss belowRs.515 in close for a conservative upper target ofRs.570 and an optimistic upper target of Rs 585.Holding period can be 8-10 days
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Wednesday, April 9, 2008
Ispat Ltp:- 29.25 tgt- 33
The daily candlestick chart of Ispat shows that it is in the short term downtrend.After a gradual decline from Rs.51.75 to Rs.26.60, there is a chance of higher bottomformation. For an anticipatory buy the downward risk is limited. High risk traderscan gradually buy around Rs.28-29 with a strict stop loss below Rs.26.80 inclose for a pullback to Rs.33 in the next 5-6 trading sessions which ifsustained Rs.35-37 in the short term.
* Avoid gap openings and trade in cash in small quantities.
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SRF Ltp : -107 tgt - 114 - 119
The daily candlestick chart of SRF shows that it is moving sideways for the pastfortnight. The oscillators have crossed the median line while the volumes are pickingup. One can gradually buy around Rs.104-105 with a strict stop loss belowRs.101 in close for a pullback to Rs.114-117 in the next 5-6 trading sessionswhich if sustained Rs.123-128 (stop loss at 99) in the next 2-3 weeks.
* Avoid gap openings and trade in cash in very small quantities
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The daily candlestick chart of Ispat shows that it is in the short term downtrend.After a gradual decline from Rs.51.75 to Rs.26.60, there is a chance of higher bottomformation. For an anticipatory buy the downward risk is limited. High risk traderscan gradually buy around Rs.28-29 with a strict stop loss below Rs.26.80 inclose for a pullback to Rs.33 in the next 5-6 trading sessions which ifsustained Rs.35-37 in the short term.
* Avoid gap openings and trade in cash in small quantities.
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SRF Ltp : -107 tgt - 114 - 119
The daily candlestick chart of SRF shows that it is moving sideways for the pastfortnight. The oscillators have crossed the median line while the volumes are pickingup. One can gradually buy around Rs.104-105 with a strict stop loss belowRs.101 in close for a pullback to Rs.114-117 in the next 5-6 trading sessionswhich if sustained Rs.123-128 (stop loss at 99) in the next 2-3 weeks.
* Avoid gap openings and trade in cash in very small quantities
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Tuesday, April 8, 2008
Short Term...................!
Bank of Baroda Ltp : - 280.20Bank of Baroda has been moving in an extremelynarrow trading range between Rs.263.55 and Rs.305. Itappears to have bottomed, at least for the short term.At the current price of Rs.280.20, it is trading in 4EZONE i.e. all the averages are in BEAR PHASE andthe current price is placed below all the averages. Highrisk traders can buy in the range of Rs.272-277 with astop loss below Rs.267 in close for a conservativeupper target of Rs.298 and an optimistic uppertarget of Rs .306. Holding period can be 8-10 days.
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Hcl Tech Ltp :- 237.25HCL Tech, after improving from a low of Rs.232 to ahigh of Rs.294.85, has reacted almost to the same levelat Rs.236.50. At the current price of Rs.237.25 it istrading in 4E ZONE i.e. all the averages are in BEARPHASE and the current price is placed below all theaverages. High risk traders can buy in the range ofRs.231-236 with a stop loss below Rs.226 in close fora conservative upper target of Rs.260 and anoptimistic upper target of Rs.268. Holding periodcan be 8-10 days.
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M & M Ltp :- 402.50M&M, after improving from a low of Rs.570 to ahigh of Rs.715 has reacted to a level of Rs.597.25.At the current price of Rs.402.50, it is trading in 4EZONE i.e. all the averages are in BEAR PHASEand the current price is placed below all theaverages. High risk traders can buy in the range ofRs.585-595 with a stop loss below Rs.575 in closefor a conservative upper target of Rs.645 and anoptimistic upper target of Rs .660. Holding periodcan be 8-10 days
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Maruti Ltp :- 743Maruti, after improving from a low of Rs.752.20to a high of Rs.936 has reacted to a further lowerlevel of Rs.941.10. At the current price of Rs. 743, itis trading in 4E ZONE i.e. all the averages are inBEAR PHASE and the current price is placedbelow all the averages. High risk traders can buy inthe range of Rs.725-735 with a stop loss belowRs.715 in close for a conservative upper target ofRs.785 and an optimistic upper target of Rs.805.Holding period can be 8-10 days.
Friday, April 4, 2008
Information.......................!
With inflation for the week ended March 22 hitting a 3-year high of 7%, the government, in an effort to control inflation, have stopped export sops on basmati rice. The DEPB (Duty Entitlement Pass Book) benefits on basmati rice has been withdrawn. The government has already banned export of non-basmati rice and raised the minimum export price for basmati rice.
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ALERT:RBI have directed banks to set up financial literacy and credit counselling centres (FLCCs). The central bank is also considering issuing guidelines to facilitate the setting up of FLCCs by banks for group and individual counselling. These are a part of the recommendations of RBI’s concept paper on FLCCs, which is open for public comments. It is also suggested that banks would have to share customer credit information with FLCCs....!!!!!
