2. Since stocck has been able to withstand above 2079 level, thus stock has a fair3chance of touching RS 2450 levels. If stock is able to cross 2501 level than the stock can be termed as entering into bullish zone.
3. As a strategy one can hold long position in Reliance Industries
1. The short term outlook for SBI is positive, whereas for medium term the outook can be defined as cautious. This week stock faces considerable resistance with in a band of 1500-1600 level.
2. One has to keep watch of stockj breaking 1299 level and if broken the stock can touch level of Rs 1010. Presently it appears that stock will consolidate in a band of Rs 1400- Rs 1600. If stock closes
1. Tata Steel has a resisitance at Rs 690 and as a trader one can go long in the stock if it starts trading above 691 levels. Stock is likely to face further resistances at Rs 720 and Rs 730.
2. Stock medium term outlook will turn positive only when stock starts trading above 731 levels. However it is noteworthy that stock will touch RS 620-575 levels if stock fails to break the barrier of 691
SYMMETRICAL PATTER IN BATA......
While there are instances when symmetrical triangles mark important trend reversals, they more often mark a continuation of the current trend. Regardless of the nature of the pattern, continuation or reversal, the direction of the next major move can only be determined after a valid breakout.
- Trend: In order to qualify as a continuation pattern, an established trend should exist. The trend should be at least a few months old and the symmetrical triangle marks a consolidation period before continuing after the breakout.
- Four (4) Points: At least 2 points are required to form a trend line and 2 trend lines are required to form a symmetrical triangle. Therefore, a minimum of 4 points are required to begin considering a formation as a symmetrical triangle. The second high (2) should be lower than the first (1) and the upper line should slope down. The second low (2) should be higher than the first (1) and the lower line should slope up. Ideally, the pattern will form with 6 points (3 on each side) before a breakout occurs.
- Volume: As the symmetrical triangle extends and the trading range contracts, volume should start to diminish. This refers to the quiet before the storm, or the tightening consolidation before the breakout.
- Duration: The symmetrical triangle can extend for a few weeks or many months. If the pattern is less than 3 weeks, it is usually considered a pennant. Typically, the time duration is about 3 months.
- Breakout Time Frame: The ideal breakout point occurs 1/2 to 3/4 of the way through the pattern's development or time-span. The time-span of the pattern can be measured from the apex (convergence of upper and lower lines) back to the beginning of the lower trend line (base). A break before the 1/2 way point might be premature and a break too close to the apex may be insignificant. After all, as the apex approaches, a breakout must occur sometime.
- Breakout Direction: The future direction of the breakout can only be determined after the break has occurred. Sound obvious enough, but attempting to guess the direction of the breakout can be dangerous. Even though a continuation pattern is supposed to breakout in the direction of the long-term trend, this is not always the case.
- Breakout Confirmation: For a break to be considered valid, it should be on a closing basis. Some traders apply a price (3% break) or time (sustained for 3 days) filter to confirm validity. The breakout should occur with an expansion in volume, especially on upside breakouts.
- Return to Apex: After the breakout (up or down), the apex can turn into future support or resistance. The price sometimes returns to the apex or a support/resistance level around the breakout before resuming in the direction of the breakout.
- Price Target: There are two methods to estimate the extent of the move after the breakout. First, the widest distance of the symmetrical triangle can be measured and applied to the breakout point. Second, a trend line can be drawn parallel to the pattern's trend line that slopes (up or down) in the direction of the break. The extension of this line will mark a potential breakout target.
SESA GOA
CMP : 3483
Target Range : Rs 4000-4300
Time Frame : 3-4 Days
EX Bonus/Spit Date : 08-AUG-08
![[Rakesh+Jhunjhunwala+portfolio+copy.png]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgsX6tSjYA8i4Or6rtGpOXinffWcwEzDhsxm6RgCtJPOWk1gGxbZuosCo9ZmbDQ8gWa7rbFc_69dKVqm4YGHv0MyZrpFb6lsuzlZ3RP7jP3MmbF2pDPLXMOKcW3W38VhOq9gy-NMLc68Q/s1600/Rakesh+Jhunjhunwala+portfolio+copy.png)
This time market is in the trading zone or in the range bound zone, if Nifty Spot cross the weekly target of 4429 & continuously give the closing for 2 days then it can go up to the level of 4586 & here RSI 5 DMA, 10 DMA will reach in over bought condition, so long position will be the very dangerous on these levels. When up trend come in the bearish market then should be sold continuously on upper levels because only one bad news also can give the sharp fall in the market & that time it’s very difficult to cut the position on time.
Date 04/08/2008 Monday DATE INDICATOR GREEN- BULLISH RED - BEARISH YELLOW- WAIT & WATCH
Alert :-- Please do not hold any long position and go home, any time bears will attack. So please be alert now.
Weekly & two weekly targets came flat , if Nifty Spot trade above the level of 4361,4429 & Sensex---14457, 14764 then Nifty Spot can go up to the level of 4586 to 4827 & Sensex---15272 to 16087 but if Nifty Spot go to break the level of 4221, 4183 & Sensex----13952, 13947 then Nifty Spot can below at the level of 3996 to 3785 & Sensex 13137 to 12624.
Please keep in mind these targets when do trade.
This time market is in the trading zone or in the range bound zone, if Nifty Spot cross the weekly target of 4429 & continuously give the closing for 2 days then it can go up to the level of 4586 & here RSI 5 DMA, 10 DMA will reach in over bought condition, so long position will be the very dangerous on these levels. When up trend come in the bearish market then should be sold continuously on upper levels because only one bad news also can give the sharp fall in the market & that time it’s very difficult to cut the position on time.
Today if Nifty Future trade above the level of 4397 then it can go up to the level of 4514, 4580 to 4640 but if Nifty Future goes to break the level of 4397 then it can go below the level of 4309, 4171 to 3966.
Daily Target:-
1) Sell ACC Below @ 576 Target 553-529 to 517.
2) Sell BIOCON Below @ 382 Target 364-343 to 333.
3) Sell HLL Below @ 234 Target 227-218 to 214.
4) Sell M&M Below @ 520 Target 483-444 to 424.
5) Sell RCOM Below @ 427 Target 358-284 to 247.
6) Sell TATAELEXEI Below @ 169 Target 157-146 to 140.
7) Sell VSNL Below @ 446 Target 418-388 to 373.
8) Buy BHEL Above @ 1756 Target 1824-1887 to 2045.
9) Buy CMC Above @ 516 Target 531-549 to 590.
10) Buy GUJAMBUJA Above @ 83 Target 85-86 to 90.
11) Buy MTNL Above @ 109 Target 113-118 to 128.
12) Buy ONGC Above @ 1003 Target 1018-1035 to 1075.
13) Buy PATNI Above @ 213 Target 217-220 to 228.
14) Buy RANBAXY Above @ 512 Target 527-543 to 580.
15) Buy STER Above @ 633 Target 647-659 to 691.
Note--- If market open green then buy our buying tips and If market open red then sell our sell tips.
BUY DLF
Let us pick one stock from the Real Estate sector - DLF. The stock has taken support around the center of BB and is now poised for a further move up - note increasing volumes for the last two baThe Nifty has recovered from the lows of the day with a negative opening to a bumper buying placed the Nifty to close at its day’s high. The Nifty took the advantage of both the short covering, coupled with buying made buy the smart money in a quiet manner that was against to the global movements of the day there by surprising many.
The positive news that pulled up the indices was on the news that the IEAE has agreed in principle to the draft recommendations and conditions proposed by INDIA. The specific news worth of more than 1 lakh crores lured the well informed HNIs and the fund managers to grab the opportunity. The 3G spectrum guidelines and the proposed number portability also added fuel to the fire. The rise is not the question at this point in time but the sustainability of the up move.
The Nifty could place itself comfortably trade above 4100 which is the major support for all practical purposes in the short term. The short-term support exists for Monday at above 4350 level and the second one at 4320 level but fall in any case arises shall be used for buying and the Nifty could touch & cross 4685 level in the very near term. The earlier suggested bottom supports valid as there was no violation.
The concern in tightening of money supply in the system is not seriously viewed by the industry but the cost of getting those funds could adversely impact the growth plans especially the reality, infra and the automobile sectors.
In my earlier write up tilted: The Asian meltdown….. mentioned about Bharti and today “The Business Line” covered a detailed scrip analysis in “Investment Focus”.
The telecom stocks will rise as the 3G auction is all set to take place in a month or two and Bharti is good for del. above 750 levels, but for today it is very likely that it will be available at 703-06 or even below that support level. On 15-07-08, Bharti low was at 695 and closed at 710.)
Delay in Sebi approval prompts move.
In a communication to the Bombay Stock Exchange (BSE) today, ICICI Securities, which is managing the open offer on behalf of Daiichi Sankyo, said a new date would be announced later. "The revised schedule of activities will be announced separately after receiving Sebi's observations," said the announcement.
The open offer was scheduled to start on August 8 and close on August 27, as per an announcement on June 16. A Ranbaxy spokesperson said the deal is on track and the terms and conditions announced earlier would remain the same. "The delay in the open offer is procedural in nature. The revised date of open offer will be communicated soon", he said.
Under the rules, Sebi is supposed to get back within 21 days of the open offer application. When contacted, Sebi sources said it will approve the issue after some "procedural queries" are sorted out.
ICICI Securities said the draft Letter of Offer was submitted to the market regulator on June 27, 2008 as per the regulations and was awaiting approval from the regulator. The proposal is to acquire up to 92,519,126 equity shares of a face value of Rs 5 each from the non-promoter shareholders of Ranbaxy, at a target price of Rs 737.
The announcement comes at a time when Ranbaxy has been in the news for alleged irregularities in complying with the United States Food and Drug Administration norms.
Ranbaxy's promoters, Malvinder Singh and his family, had decided on June 11 to sell off their 34.6 per cent stake in the company to the Japanese drug major in a deal valued about Rs.10,000 crore. Daiichi had said it would follow up with an open offer to acquire a further 20 per cent stake in Ranbaxy and its subsidiary Zenotech
BUZZING.......
Last week clearly and very boldly told to you all that if index breaks 14104 then it may touch 13809,13635 and if nifty future breaks 4275 then it may touch 4164…………. Look what happened ???? Index had touched a low of 13727 and nifty future had touched 4162's low……… On Upper side we had boldly recommends u that if index crosses 14485 then it may touch 14682 and nifty future if crosses 4392 then it may touch 4444…..look what happened to that also….Index had touched a high of 14682 and nifty future had touched a high of 4441.95……. Our all given levels had performed very very well.
| IF CROSSES 14778 THEN 14943,15131,15259..IF BREAKS 14355 THEN 14274,14104.. | ||||||
| IF CROSSES 4491 THEN 4565,4636..IF BREAKS 4332 THEN 4252,4198…. | ||||||
| BSE Index Prediction for Week (04.08.08 To 08.08.08) :- | ||||||
| Index | Closing Price | Support | Stoploss | Target 1 | Target 2 | Target 3 |
| BSE | 14656.69 | 14274 | 14104 | 14943 | 15131 | 15259 |
| Nifty Future's Prediction for Week (04.08.08 To 08.08.08):- | ||||||
| Index | Closing Price | Support | Stoploss | Target 1 | Target 2 | Target 3 |
| Nifty | 4435.00 | 4252 | 4198 | 4491 | 4565 | 4636 |
| Nifty Future's Hot Scripts for Week (04.08.08 To 08.08.08) :- | ||||||
| Sr.No. | Company Name | Closing Price | Support | Stoploss | Target 1 | Target 2 |
| 1 | Neyveli Lignite | 119.65 | 116 | 114 | 129 | 138 |
| 2 | Sesa Goa | 3514.40 | 3498 | 3483 | 3598 | 3667 |
| 3 | IFCI | 50.35 | 48 | 46 | 54 | 58 |
| 4 | DLF | 515.65 | 507 | 501 | 530 | 543 |
| 5 | Unitech | 169.85 | 164 | 160 | 177 | 185 |
| Weekly Trading's Hot Scripts for Week (04.08.08 To 08.08.08) :- | ||||||
| Sr.No. | Company Name | Closing Price | Support | Stoploss | Target 1 | Target 2 |
| 1 | Praj Ind. | 189.20 | 184 | 179 | 199 | 209 |
| 2 | IOC | 421.65 | 413 | 404 | 437 | 449 |
| 3 | Hind.Oil | 127.75 | 123.00 | 119 | 138 | 148 |
| 4 | RNRL | 102.90 | 99 | 96 | 109 | 117 |
| 5 | R Power | 171.40 | 164 | 160 | 177 | 185 |
| For Delivery Based Investment Hot Midcaps/Smallcaps for Week (04.08.08 To 08.08.08) :- | ||||||
| Sr.No. | Company Name | BSE Code | Closing Price | Stoploss | Target 1 | Target 2 |
| 1 | MRPL | 500109 | 69.55 | 65.00 | 75 | 83 |
| 2 | Assam Co. | 500024 | 25.35 | 22.00 | 28 | 31 |
| 3 | Aftek | 530707 | 41.90 | 36.00 | 45 | 49 |
| 4 | Surya Pharma | 532516 | 109.60 | 101.00 | 118 | 125 |
| 5 | Air Deccan | 532747 | 81.50 | 75.00 | 86 | 92 |
| 6 | Aptech | 532475 | 192.20 | 182.00 | 204 | 219 |
| 7 | Zensar | 504067 | 139.10 | 130.00 | 149 | 158 |
| 8 | Salzer Electronics | 517059 | 70.20 | 65.00 | 79 | 93 |
| 9 | Invicta | 523844 | 16.40 | 14.00 | 20 | 22 |
| 10 | Jupiter Bio | 524826 | 117.25 | 110.00 | 128 | 137 |
| 11 | Rajesh Export | 531500 | 50.75 | 46.00 | 57 | 68 |
| 12 | ASCL | 532853 | 41.90 | 36.00 | 47 | 58 |
| 13 | Webel SL | 517498 | 234.00 | 217.00 | 248 | 267 |
| 14 | Timex | 500414 | 19.00 | 17.00 | 23 | 25 |
| 15 | Hotel Leela | 500193 | 31.45 | 28.00 | 35 | 43 |
I am back, the break did me good! The problems with breaks are that you get a bit lazy to get back to work hence such a late post. Let’s view the charts of Nifty and see what’s in store for us next week. First we take on the weekly chart above. We have closed above the 38.2% retracement of point A to B. Any close below 4375 on weekly closing basis will mark the end of this pullback. On the other hand we have overhead resistance at 4550 levels, which is the 50% fib ratio plus along with the trend line resistance. This area is also the logical target of inverse H&S (shown below on the hourly charts), will discuss that later. Above 4550 we have 4647/4727 to take on.
Now let’s move to a timeframe lower; the daily chart shown below. In fact both the charts shown below are daily charts. The one on the left is just simple chart showing pivots. We have a HH and a HL. In simple terms this just means that the trend in question remains up if it takes out the previous HH and it will reverse if it takes out the recent HL. The chart on the right shows we have just closed below the trend line resistance but more importantly above the 50 period Moving Average. Just above this we have a cluster of horizontal resistances at 4450/70 and finally the 4500+ which will be a bone of contention between the bulls and the bears. Since that marks the penetration of the huge sloping trend line drawn from the January highs.
Finally we have come to the hourly chart and the inverse H&S I had mentioned earlier. The two vertical yellow lines marked are nothing but a way to show how the basic target of inverse H&S is computed. Though the logical target for this pattern on the hourly chart remains near 4550 we still have to face resistance near the trend line which incidentally falls at 4480 and 4500 (A round number resistance!). My view is that we are innocent till proven guilty! As long as we trade above 4370 we remain firmly in uptrend, below 4370 the all important 4250 comes into force!!!
Another important thing I wish to mention that this pullback has many a people announcing that we are back in BLACK. I just want to say one thing first put a question to yourself and ask “Are we really in a BEAR market?” If YES then you can’t just wish it away in 6 months. These vicious pullbacks are synonymous with Bear markets and should be used for quick swing trades. Another most important thing is to build your portfolio slowly by buying little into the FALLEN ANGELS, a term used by Elder to describe good shares with strong fundamentals, which have fallen out of favor and are now available REAL cheap.
NAME: HDIL ABOVE 460 BUY
SL : 452
TRGT: 468-473-478
REVISED SL TO : 455 IF 464 IS ACHVD.
Siemens : (575.15) Buy SIEMENS above 568 for a target of 593-610, stoploss 560.
Videocon Ind : (283.55) Buy VIDEOIND above 285 for a target of 290-296-304, above 304 its goes up to 330, stoploss 275.
Harrisons Malyalam : (105.35) Buy HARRMALAYA above 105 for a target of 111-117, stoploss 96.
Sakthi Sugar : (100.80) Buy SAKHTISUG above 98 for a target of 106-113, stoploss 93.
Sensex : (14656.69) Today Sensex face resistance at 14882, if cross 14882 then goes up to 15108. Sensex find support at 14457, if 14457 break then next support is 14231-14050.
Nifty : (4413.55) Today Nifty face resistance at 4470, if cross 4470 then next target is 4540. Nifty find support at 4356, if 4356 break then next support is 4292-4253.
MARKET WILL TAKE CUE FROM CRUDE OIL PRICE AND DEVELOPMENT OF MONSOON
Bse Sensex(14656.7) and Nifty(4413.55) closed approximately 2.7% and 2.4%up each last week . Inflation was at 11.98 v/s 11.89 and Crude fell to 124 $ which boosted the sentiments and bears were forced to cover their position.. Market will take cue from Crude oil prices and rainfall repots..Support for Sensex is 14000 and for Nifty 4250 Resistance level of for Sensex 15300 and 4600 for Nifty. Selective buying will be visible at every decline.
Nifty put-call ratio is 0.91 and highest open interest is build up at Nifty 4300 put options.
Strategy for Future & Option players
1)Sail-(145.85)-Lot Size-1350 shares
Buy One Lot Of August Month Future @145.85
Sell One Call Of August Month Call 150@7.35 Rs.
Premium Received =1350*7.35==9,922.50 Rs. .
Maximum Profit-150-145.85=4.15+7.35=11.50*1350=15,529.00 Rs.
Maximum Loss=unlimited
2)NIFTY FUTURE(4335.1)-Lot Size-50 Shares.
Buy One Lot of Nifty August month Future@4335.10
Buy one put option Nifty August month Strike Price 4300@114.00 Rs.
Premium Paid=114.00*50=5700.00 Rs..
Maximum Profit=unlimited
Maximum Loss=35.10+114.00=149.10*50=7455.00 Rs.
Trading Idea
1)PFC(135.25)Buy this decline and trade.
2)MTNL(107.75)Buy this stock in decline and trade..
BUY BANK OF BARODA
(Click the above chart to enlarge) Notables Observes
- Bank of Baroda is the fifth largest bank in India.
- It provides lending, banking, financing rehabilitation, treasury and investment management services to consumers and to industries. It was the first to venture overseas.
- BOB realigning its operations into four business lines - retail, rural and agriculture, small and medium enterprises and corporate banking -in sync with market needs.
- BOB distribution channel of domestic branches (at 2,853 on 31st Mar, 2008), extension counters and ATMs (at 1,106), and a strong international presence in 25 countries (including India) covering regions like U.S.A., U.K., Africa, Middle East and Asia-Pacific zones has ensured a wide global clientele-base of 33 million.
Share Holding Pattern
- Promoter : 56.79 %
- Public : 46.19 %
Financial Highlights
- Interest earned of Rs. 3293.82 Cr for the quarter ending on 30-JUN-2008 against Rs. 2654.61 Cr for the quarter ending on 30-JUN-2007.
- Interest expended of Rs. 2236.81 Cr for the quarter ending on 30-JUN-2008 against Rs. 1696.06 Cr for the quarter ending on 30-JUN-2007.
- Net Profit / (Loss) of Rs. 370.86 Cr for the quarter ending on 30-JUN-2008 against Rs.330.84 Cr for the quarter ending on 30-JUN-2007.
Technical Overview
- On Daily chart the stock has witnessed "Inverted Head & Shoulder pattern" breakout with huge volumes, indicating a fresh up move for the stock. The stock is recommended to buy at cmp 275.90
Support Levels
- Support 1 : 259
- Support 2 : 248
Stop Loss : 225 on closing basis
Targets
- Target 1 : 294
- Target 2 : 329
Period : 3 to 4 months.
BUY GRASIM
(Click the above chart to enlarge) Notables Observes
- Grasim Industries Limited, a flagship company of the Aditya Birla Group, ranks among India's largest private sector companies.
- The Grasim's businesses comprise Viscose Staple Fibre (VSF), Cement (grey and white), Sponge Iron, Chemicals and Textiles. VSF and Cement are core business of the company.
- The Aditya Birla Group is the world’s largest producer of VSF, commanding a 21 per cent global market share. Grasim, with an aggregate capacity of 270,100 tpa has a global market share of 11 per cent. It is also the second largest producer of caustic soda (which is used in the production of VSF) in India.
- In July 2004, Grasim acquired a majority stake and management control in UltraTech Cement Limited. One of the largest of its kind in the cement sector, this acquisition catapulted the Aditya Birla Group to the top of the league in India.
Share Holding Pattern
- Promoter : 25.19 %
- Public : 62.87 %
Financial Highlights
- Net Sales of Rs. 4429.54 Cr for quarter ending on 30-JUN-2008 against Rs. 4062.85 Cr for the quarter ending on 30-JUN-2007.
- Net Profit / (Loss) of Rs. 671.89 Cr for the quarter ending on 30-JUN-2008 against Rs. 669.67 Cr for the quarter ending on 30-JUN-2007.
Technical Overview
- The stock exhibited a down trend since recording alltime high of Rs 4074 in the month of Oct 2007.The stock showed a steep decline and hit low of Rs 1625 in the month of July 2008.
- The stock has formed "Doji / Spinning bottom" formation on Monthly chart and "Double Bottom" pattern on daily chart, indicating the trend reversal and beginning of a uptrend. The stock is recomended to buy at cmp 1836.10
Support Levels
- Support 1 : 1750
- Support 2 : 1650
Stop Loss : 1620 on Monthy closing basis
Targets
- Target 1 : 2139
- Target 2 : 2462
- Target 3 : 2725
- Target 4 : 2989
Period : 6 to 9 months.
The daily chart of Nifty, as shown above, shows that after the narrow range day seen on Thursday, we saw a high volatility candle on Friday. This was to be expected, but what was not expected was that it would first give a false downside breakout and then change itself completely during the course of the day. Could it have happened that some market participants had come to know that the IAEA had approved the nuclear deal? It is quite possible since such things keep happening in the Indian markets and the world over that the smart money gets access to important market sensitive news much before the rest of the market does.Anyways, now that the direction is clear, let us decide what to do tomorrow. Resistance is close by at 4450 (the closing was 4413), only 37 points away. But with the IAEA news now becoming public, that resistance should be broken through in the first one minute of trade. A move above 4450 will give us a sign that the market may now change its intermediate term trend to bullish since, then the prices would have gone above the downward sloping trendline seen in the chart above. But an actual confirmation of an intermediate term uptrend would come if the prices were to go above the previous high of 4540. All of us should be buyers above 4540, while persons with more risk taking capacity can plan to go long above 4450. I would suggest buying some Nifty calls having strike price of 4500 and 4900 for best results. With some luck we should be able to get them tomorrow early morning at Rs.135 and Rs.23 approximately.
It was a busy weekend for me and it is now late Sunday night. I would like to post this entry as early as possible so that then I could go and hit the sack. I will go into the details of why I am suggesting 4500 and 4900 calls tomorrow. I am also planning to discuss what the next target of Nifty should be after the change of trend is confirmed. Please keep looking at this space for regular and daily updates about the markets.
INFOSYS LEVEL
1. Infosys is consolidating for past 3 weeks and has been moving in a broad range of Rs 1,500 and Rs 1,650 which are its key support and resistances respectively.
2. If one is a long term investor with a time span of approx 24 months can buy this stock whenever it dips below 1500 level to have a value buy.
3. Resistance for Infosys:1665,1701
4. Support Infosys: 1499,1479,1419
5. As a short
Here is one more pick -Suzlon, breaking out of BB. Volume on Friday was lower, but it's ok as the price matters more than the volume ! Always keep stops and remember, we are not out of the woods yet. Bear market rallies can be traded nicely but only if you know what to trade! ( This stock is from the Power sector )THE OPPORTUNITIES AND CHALLENGES
There are few stocks already out performed the market by many points. The Nifty closed on May 30th at 4850 opening day of the June series and the Aug- series opened with a closing at 4433 with a net loss of 417 points.
The beauty is that many scrips in the F&O segment out performed the Nifty. The BankNifty was lower by 567 points but the notable banks like Bank of Baroda in May closed at 265 and on Friday closed at 276, BHEL was in May at 1663 and on Friday closed at 1770, ONGC in May at 864 and on Friday closed at 1005 out performing by Rs140/-.The State Bank of India in May at 1448 and on Friday closed at 1486.The Renuka sugars was at 113 and at 135. The Union Bank in May at 134 and on Friday closed at 138. One of the under performers is Siemens turned out to be a successful out performer by Rs19/-. In the pharma sector Cipla, Lupin and Sun made their mark. The sole out performer in the auto sector is Hero Honda by Rs 44/-.
The worst performers are Aban lost Rs 1484/- in two months, ABB lost Rs 219/-, Adlabs lost by more than Rs 90/-, Axis bank lost nearly Rs 109/-, Bharti lost Rs 50+/-, Biocon lost by Rs 79/-, Corp Bank lost Rs 71/-, Grasim lost Rs 377/-, HDFC lost Rs 138/- where as HDFC Bank lost by Rs 210/-, ICICI bank lost by Rs 139/-, IDFC by Rs 49/-, MARUTI lost nearly Rs 200/-, RCOM by 137/-, Reliance by nearly Rs 93/-, Rpower by Rs 60/-, Infosys by Rs290/-, Satyam by Rs133/-, TCS lost Rs 171/- Wipro lost Rs 66/- Tata Power lost Rs 244/-, Tata Steel lost Rs 218/- DLF lost Rs 73/-, Unitech lost Rs 63/-HDIL lost Rs 265/, JP Associates lost Rs 43/-, Ster lost Rs 287/- Hindalco lost Rs 51/-and Zee lost more than Rs 25/-.
The whole effort is to highlight the sectors out performing and the possible journey that the front line stocks can make while Nifty heading towards 4800 level.
4AUGS BUY SBI ABOVE 1492 TGT 1537>1589 STOPLOSS 1446
BUY GMR ABOVE 100 TGT 107>121 STOPLOSS 94
SHORTERM RISKY TRADER BUY JINDALPOWER ABOVE 2150 TGT 2337>2513 STOPLOSS 2060
BUYPUNJLLYOD ABOVE 285 TGT 301>320 STOPLOSS 273--SHORTERM
The Indian market saw smart recovery after the initial dip and close near days high , crossing above 4445 levels and breaking the falling trend line we can test 4548-4650 levels. on the lower side 4250-4146 will act as support zone
Last week nifty closed with the gain of 2.36%. Nifty holding 50%retracement levels of the rally .As last we had mention about nifty had halt making lower top and lower bottom and formation of “Higher Tops and Higher Bottoms” as shown on chart above .For the coming session we can see nifty will test 4539 but I will say nifty slowly—steadily heading for 4750.I will add small story of “Tortoise Beat Rabbit in a Race “ same thing seen on market Bears are dreaming for 3600-3200 till the time slow n-slow bulls will take market towards 4750 levels.
“Tortoise Beat Rabbit in a Race”
MY CHARTS FOR NEXT WEEK NIFTY
Nifty: We have plotted wave count of mid term trend. Technically it seems corrective flat of last leg C is starting to move up. (If you remember we have already give that in our earlier post at bottom). Watch this up move carefully, break out above 4445/4540, once it breaks this resistance then next strong resistance zone is above 4600 to 4800. Support 4390/4324/4288/4258. Up to 4540 be careful. Strong resistance is at 4445/4501/4540. As per strong up move on 1st Aug. Our strategy for 4th Aug. should be to buy on dips (S.L 4390) & sell at high (S.L 4540). In one level above 4390 momentum seems up, and below 4390 momentum down.
We saw a dramatic trading session in the Indian markets on Friday. As reported here earlier, markets started the day huge gap down. Infact it opened 316 points down and then started gaining strength. By noon it has recovered from the days lows and then started moving up. Finally sensex closed the day gaining 301 points or 2.10% at 14,657 levels. And nifty gained 81 points to close at 4,414 levels.
We saw a very sluggish month in July 2008 in the markets. And then the RBI monetary policy to control inflation and the reeling economy from further distress. The Aug has started well so far. Last week sense gained 2.8% and nifty was up by 2.5% from previous weeks closing.Metal index was up by 6.2%, oil and gas was up by 5.8% and IT was up by 5%. For the last few days, the Indian markets are going against the global cues and the US markets. So it becomes really difficult in these conditions to predict the markets.
Nifty has a resistance now at 4,560 levels.Once it crosses that, it will move upto 4600 to 4,720 levels. With 3G Spectrum guidelines coming in after Govt decision to allow foreign players, the telecom sector stocks look good. Bharti, RCom aboveRs 400 levels,MTNL can move up by 10% in coming 1-2 months time horizon. You can get BHEL,Punj Lloyd, JP Associate on dips for long term. And in banking space SBI, BOI and Axis bank look good at the current levels.
Dow and Nasdaq had closed in red in Fridays trading session losing 0.45% and 0.63% respectively. And Nikkei-225 also closed in red in the last trading session. But on the contrary the Indian markets closed up. So it would be better to wait and watch than predict the markets in such scenario.
Now some intra day trading tips for today: Prakash industries(cmp 164),JPAssociate(cmp 170),Reliance Infra Ltd(cmp 1011),NMDC(cmp 346),Bajaj hindustan(cmp 166),GMDC(cmp 274),HMT(cmp 78),Indian Bank(cmp 104), Suzlon Energy(cmp 239)
Market may open Down . Market may up between 10.47 and 11.09. Market may steady or up side between 12.00 and 12.22. Market may close at up to previous closing.
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Opening Bell Call
Buy
RELIANCE - Reliance Industries Ltd
NTPC - NTPC Limited
SATYAMCOMP - Satyam Computer Services Ltd
RELCAPITAL - Reliance Capital Limited
RNRL - Reliance Natural Resources Limited
IFCI - IFCI Limited
On 1st August 2008 - The BSE Sensex closed at 14,456 (Up 300 points) while the NSE Nifty closed at 4,413 (Up 80 points).
Opening Bell Call
Sell
ABB - ABB Limited
GLENMARK - Glenmark Pharmaceuticals Ltd.
HOTELEELA - Hotel Leela Venture Ltd.
CHOLADBS - Cholamandalam DBS Finance Limited
ATFL - Agro Tech Foods Limited
M&M - Mahindra & Mahindra Ltd.
Technical Analysis for 4th August 2008
BSE-SENSEX - Major Support - 14456, 14344, 14231, 14019, 13806, 13481, 13156, 12831
BSE-SENSEX - Major Resistance - 14669, 14881, 14994, 15106, 15431, 15756, 16081, 16406
NSE-NIFTY - Major Support - 4356, 4324, 4291, 4230, 4169, 4076, 3982, 3889
NSE-NIFTY - Major Resistance - 4417, 4478, 4511, 4543, 4637, 4730, 4824, 4917
1. Indian stock market update: Market is likely to be in uptrend for a short durtion. However medium term trend for BSE and NSE is in a state of doldrums and same will be verified for a few days.
2. Result of last Friday recommended share tips: Cairn gave a profit of RS 320, GMR Infra gave a profit of Rs 280, BOB gave a profit of Rs 1900, Siemens gave a profit of rs 3200, Punj LLyod gave a profit of RS 1350, Tata chemical gave a profit of Rs 1050, Unitech gave a profit of rs 625, chambal fertilisers gave a profit of rs 635 and satyam gave a profit of Rs 820. Hope you all made good profit as it was clearly stated in last friday tips that the day will be favouring buyers.
3. BSE and NSE: Strong Future Stocks
RNRL
LIC
Escorts
Chambal Fertilisers
BOB
Siemens
MRPL
Jet Airways Polaris
PunjLloyd
4. Dallal Street: Weak Future Stocks data
Moser Bear
Sun TV
Great offshore
Aban offshore
Nagar Constructions
Amtek
BEL
Dr Reddy
Patni
Rel Com
5. Make money with reliable stock tips:
Buy Tatapower>1132.1,1154,1189 sl 1127.8
Buy SRF>134.5,137,140 sl 130.8
Buy Bharti>825.1,839,859 sl 818.9
Buy GNFC>126.1,127.9,131 sl 122
Buy GMR Infrastructure>100.3,103,107 sl 95.6
Well as advised in previous posts GMR Infrastructures has taken off and has already broken out of the range of Rs 97.1 as advised and has touched the level of Rs 99.9
Technically Strong and Weak Stocks and Sectors
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