S&P Nifty (5104.95 points) (-52.75 pts)

The Bears dominated the entire day with a gap down openfavouring them. The Nifty hovered around the 5100 points, butwhen that got breached, intraday selling was seen dragging theNifty to a low of 5072 points. The Metal and Power-Energy stocksshowed strength but profit taking was seen in Banking, CGS andOil & Gas sector. Volumes were lower than previous session whilethe A/D ratio was negative at 1:2.It was mentioned in the Friday’s report that the Bulls may takebreather at higher levels and that 5165-5176 is the bottleneck areain the Nifty. Weekly S1 is pegged at 5019 points; a breach of it cantest the crucial trendline support in green (currently pegged at 4948points). As long as it holds the bias is up. If the Nifty sustains above5175 points we could see it testing 5214 points.Intraday, the Nifty has to sustain above 5130 points while to negatebearishness it has to hit a high of 5185 points. Pivot is pegged at5102 points with immediate support at 5065 points. A low below5040 points would indicate more selling pressure. Small investorsshould keep churning positions while High risk traders shouldprotect their positions.

NIFTY Intra WeekVolatility 275 pts
S1 5019.10

S2 4883.17

R1 5289.35

R2 5355.18

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Tata Steel Protect longs Buy 900 PA in dips

The daily candlestick chart of Tata Steel shows that it is in uptrend. The rally isgetting exhausted or is likely to take a pause as the oscillators are exhibitingnegative divergences. Those holding longs in Tisco can hedge by buying 900PA while high risk traders should follow a strict stop loss below Rs.10.50(preferably in close). Holding period is 4-5 days.

* Avoid gap openings and trade in cash in small quantities.

* ST - short term, MT- medium term

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Voltas Buy in dips Only CMP: 157.65 Tgt: 168 & 175

The daily candlestick chart of Tata Steel shows that it is in uptrend. The rally is
getting exhausted or is likely to take a pause as the oscillators are exhibiting
negative divergences. Those holding longs in Tisco can hedge by buying 900
PA while high risk traders should follow a strict stop loss below Rs.10.50
(preferably in close). Holding period is 4-5 days.

* Avoid gap openings and trade in cash in small quantities.

* ST - short term, MT- medium term

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S&P Nifty (4957.80 points) (-54.85 pts)

The Nifty opened higher and continued to move up from where ithad left before. Till the mid-session it was steadily trading around5045-5050 points. Later, the Bears became active when intradayrallies failed to cross the daily R1 at 5071 points. More than 100points were knocked off from the days high in the last hour of trade.Heavy weights were slaughtered as the Bears were on a rampage.In the end the Nifty closed a percent lower on higher volumes. TheA/D ratio was marginally positive.Profit taking which began around 5060 points (38.2% retracementof the fall from 5298-4913) soon turned out to be a decent sell off.The Nifty is yet again near the crucial supports at 4915 and 4883points (weekly s1). Trend line support in green is pegged at 4935points. On the upside, the 5085-5115 points is the bottleneck areaand for a sustained up move, trendline in pink needs to bedecisively crossed.Intraday, 4988 points is the pivot in the Nifty. Immediate support ispegged at 4912 points where as the bulls cannot afford a low below4889 points. Resistance in rallies is pegged at 5035 points which ifsustained, we could see further up move. Once again the volatility isacting as a double edged sword. It’s an acid test for the Bulls; theyneed to act quickly before the Bears strangulate them.

NIFTY Intra
WeekVolatility 271 pts
S1 4883.17 S2 4758.88
R1 5118.55 R2 5284.00

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LIC Hsg Chance Buy in dips

CMP: 341.55 Tgt: 358-36The daily candlestick chart of LIC Housing Finance shows that it is correcting after abreakout above Rs.324. It has touched the support line in blue. The mechanicaloscillators are above the median line indicating that the bias is still up. High risktraders can gradually buy in declines around Rs.334-337 with a strict stoploss below Rs.324 (preferably in close) for a pullback to Rs.358-365 which ifsustained on volumes can test Rs.390 (stop 872) in the next 3-4 weeks.

* Avoid gap openings and trade in cash in small quantities.
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UTV Soft Buy for ST CMP: 794.50 Tgt: 832-848The daily candlestick chart of UTV shows that it is moving in a broad trianglepattern (though not classical) . It appears to be consolidating before a directionalmove. One can gradually buy in small quantity at Rs.788 and in declinesaround Rs.776 with a strict stop loss below Rs.759 (preferably in close) for atarget of Rs.358-365 in the coming 7-8 trading sessions. A decisive breakoutin close above Rs.852 gives a target of Rs.902-936 in the next 4-5 weeks.

* It is an anticipatory buy and trade in small quantities.

* ST - short term, MT- medium term

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S&P Nifty (5081.70 points) (-53.80 pts)

The markets remained in the negative territory through out the day
losing a percent at close. It opened weak and later oscillated in a
narrow range. Banking stocks along with ITC and Larsen led the
decline. Reliance was steady while Tisco rallied which helped in
cushioning the fall. Volumes were lower while the A/D ratio was
negative at 1:2.
Yesterday, the Nifty marginally breached the crucial intraday
support at 5066-5073 points. The Bulls failed to hit the asking rate
of 5161 points; for today it has shifted to 5130 points. Immediate
resistance is at 5213 points while the 38.2% retracement of the
recent rise from 4628 points (5015) is the support. A decisive breach
of it could see it drifting further testing the green trend line.
Intraday, crucial support in the Nifty is at 5032-5045 points. Pivot
is pegged at 5197 points which if sustained then next resistance is
at 5130 points. For the past couple of sessions the Bears are
tightening their grip as the Bulls take a breather. The onus is on
the Bulls to come out of this situation. Markets are likely to remain
swinging and volatile.

NIFTY Intra Week
Volatility 283 pts

S1 5153.68

S2 5006.56

R1 5324.98

R2 5412.77

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Tata Tea Buy in dips CMP: 910.00 Tgt: 933-944

The daily candlestick chart of Tata Tea shows that it is correcting after a rise from
Rs.850 to Rs.944. For the past 3-4 times it has taken support from the trendline in
blue. High risk traders can gradually buy in declines around Rs.895-900 with
a strict stop loss below Rs.884 (preferably in close) for a pullback to Rs.933-
944 which if sustained on volumes can test Rs.976 (stop 872) in the next 3-4
weeks.
* Avoid gap openings and trade in cash in small quantities.

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S&P Nifty (5135.50 points) (-9.15 pts)

As anticipated the markets oscillated within a narrow range of 40-
50 points. It was more of a stock specific movement as they
supported the Indices in rotation. The Nifty bounced exactly from
the S1 (5101) mentioned in the earlier report. Amidst selling
pressure, the IT stocks remained steady. Late surge in Reliance led
the comeback. The A/D ratio was marginally negative and the
volumes were lower than previous session.
On the breach of support line in blue, the Nifty is down 100 points
and around 160 points from the recent high (in 2-3 days). If it’s a
permissible correction, we should get a relief today; otherwise one
should be alert. Unless 5284 points is not decisively crossed upside
is capped and as long as crucial support at 5073 points holds, the
Bulls are safe. The 38.2% retracement of the recent rise from 4628
points is approximately around 5015 points.
Intraday pivot in the Nifty is at 5134 points. Support in declines is
at 5103 and below at 5066-5073 points. The Bulls have to sustain
above 5181 points to ward of the Bear threat. As indecision
prevailed at higher levels, market participation is lower in this
week. The Bulls are getting intraday support at lower levels ( close
is away from the low). Without wasting time they need to act
quickly to prevent the Bears entering their territory.

NIFTY Intra Week
Volatility 283 pts
S1 5153.68
S2 5006.56
R1 5324.98
R2 5412.77

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Short Term..........!

Crompton Gr Buy in dips CMP: 251.70 Tgt: 262-271

The daily candlestick chart of Crompton shows that it is facing resistance from thetrendline in pink. However it is holding on Rs.245 on the downside; hence the risk islimited. High risk traders can gradually buy in declines around Rs.246-249with a strict stop loss below Rs.239 (preferably in close) for a pullback toRs.262-271 which if sustained Rs.279-284 in the next 2-3 weeks.
* It’s an anticipatory buy; avoid gap openings and trade in cash in smallquantities.
=========================================================Mysore Cem Buy CMP: 37.60 Tgt: 41-43

The daily candlestick chart of Mysore Cem shows a bullish candle on high volumes. Itis taking support from the trendline in blue while resistance line in pink if decisivelycrossed could see fresh up move. One can buy in small quantities at currentlevels as well as in declines around Rs.36 with a strict trading stop lossbelow Rs.34.60 in close for a target of Rs.41-43 in the next 7-8 tradingsessions which if sustained Rs.45-46 in the coming 2-3 weeks.

* Avoid gap openings and trade in cash in small quantities.

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S&P Nifty (5192.25 points) (-35.95 pts)

The Nifty opened higher but failed to sustain at higher levels. Profittaking coupled with some speculative selling wiped off 65 pointsfrom the day’s high. The Bulls made every effort but in vain. Heavyweights moved in rotation but succumbed to selling pressure in theend. Volumes were slightly higher while the A/D ratio was at par.Auto, IT and Realty stocks were under selling pressure but it wasLarsen that caused the damage. The steep support line in blue isbreached. For fresh up momentum it has to decisively cross 5253points to test the resistance at 5314 points. Immediate support ispegged at 5 153 points (Weekly S1) and below at 5073 points.Intraday, the 5211 points is the pivot in the Nifty. Resistance onthe upside is pegged at 5236 and up at 5282 points. Crucial supportis at 5153-63 points; a breach of it could see more pain for the Bulls.The over-weight Bulls are finding it difficult to carry on with thesame pace. They are taking a breather but need to keep their eyeswide open as the Bears are hunting for an opportunity to hit back.It is better to sit on cash. For the past 3 trading, volatility hasshrunk; it is likely to uncoil in the coming days, trade with stop loss.

NIFTY Intra Week
Volatility 283 pts
S1 5153.68 S2 5006.56

R1 5324.98 R2 5412.77

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Short Term..........!

APIL Buy in dips
CMP: 624.40
Tgt: 644-655 & 676


The daily candlestick chart of APIL (Alstom Power) shows a vertical fall from Rs.742
to Rs.601. The downward risk is minimal for an anticipatory buy. High risk traders
can buy gradually in declines around Rs.613-620 with a strict stop loss
below Rs.604 (preferably in close) for a pullback to Rs.644-655 which if
sustained Rs.676 in the next 2-3 weeks.

* Avoid gap openings and trade in cash in small quantities.

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Strides Acc Buy

CMP: 196.35
Tgt: 222-232

The daily candlestick chart of Strides shows that it is moving in an ascendingtriangle pattern. A decisive breakout above Rs.207 on volumes gives a target ofRs.222-232. As long as it holds above Rs.184 in close the bias remains up . One canbuy in declines around Rs.190-194 or on a confirmed breakout (on volumes)above Rs.207 with a strict trading stop loss below Rs.183 for a target ofRs.222-232 in the next 7-8 trading sessions.

* Avoid gap openings and trade in cash in small quantities.
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Weekly Report........!

There has been no let up in the renewed buying force witnessed in the last couple of days.Technical reactions have been minor and have been limited to intra-day declines only.Follow up support at higher bottom levels is very clearly evident. It is heartening to notethat even negative news items have been well absorbed by the market forces without anyscratch. Continue to hold long positions as mentioned in the previous few weeks. It is, as amatter of caution, advisable to avoid aggressive buying on further higher levels. Do bookpartial profits near the resistance levels mentioned against NIFTY and SENSEX.
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Futures Stock....!

GT Offshore (250 ) Buy

Ltp :- 657.60

GT Offshore, after improving from a low of Rs. 557to a high of Rs.696, has reacted moderately to a levelat Rs.648. At the current price of Rs.657.60, 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.648-656 with a stop loss below Rs.640 in close fora conservative upper target of Rs.720 and anoptimistic upper target of Rs.735. Holding periodcan be 6-7 days.
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J & K Bank (300) Buy

Ltp : - 662

J&K Bank, after improving from a low of Rs.580.15to a high of Rs.705 has reacted moderately to a levelof Rs.626. At the current price of Rs.662, it is tradingin 4F ZONE i.e. all the averages are in BEARPHASE and the current price is placed between shortterm and medium term averages.High risk traders can buy in the range of Rs.650-660with a stop loss below Rs.640 in close for aconservative upper target of Rs .720 and anoptimistic upper target of Rs.735. Holding periodcan be 6-7 days
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MTNL ( 1600 )
Buy Ltp :- 112.40

MTNL, after improving moderately from a low ofRs.92.50 to a high of Rs.116.60 has reacted to alevel of Rs.110.65. At the current price ofRs.112.40, it is trading in 5G 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 mediumterm and long term averages. High risk traders canbuy in the range of Rs.110-112 with a stop lossbelow Rs.108 in close for a conservative uppertarget of Rs.124 and an optimistic upper target ofRs128. Holding period can be 6-7 days.
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Patel Eng, ( 250 )
BuyLtp :- 576

Patel Engg, after improving moderately from alevel of Rs.540.05 to a high of Rs.644.90, hasreacted to a further lower level of Rs.525 At thecurrent price of Rs.576, it is trading in 4F ZONEi.e. all the averages are in BEAR PHASE and thecurrent price is placed between short term andmedium term averages. High risk traders can buyin the range of Rs.100-103 with a stop loss belowRs.97 in close for a conservative upper target ofRs.118 and an optimistic upper target of Rs.124.Holding period can be 7-8 days.
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