updated 11.08.08

WHIRLPOOL (500238) - 8 Aug. Price: 59.15
WHIRLPOOL is within a rising trend and continued advance within the current trend is indicated. On reactions back, there is support against the floor of the trend channel. It also gave positive signal from a rectangle formation at the break up through the resistance at 50.29. Further rise to 69.18 or more is signaled. The moving average indicator has given a positive signal. In isolation, this signals a continued rise, but the slowness of the indicator often means that one has lost much of the upside. The stock has support at 53.00. Volume tops correspond well with price tops, and volume bottoms correspond well with price bottoms. This strengthens the trend. RSI is overbought, which indicates a potential short-term reaction down. The stock is overall assessed as technically positive for the medium long term.
The medium long term: Positive candidate



Market Technicals for the week ending 14th Aug

Crude Watch

Crude has become very weak at these levels. The trend for fresh buying positions will continue if the crude continue to trade beyond 119 USD. There are chances that Crude may move 12 - 13 USD down. There are chances of a weekly movement of around 35 USD.

If the crude sustains above 133 USD, then it will try to touch 138 USD.

On the other hand, crude has a weak support at 107 USD because the crude may further fall down to 102 USD from this point due to panic selling & profit booking which can act as a strong support.

Indian Markets Technicals

Both Nifty & Sensex has become strong at these levels. The trend for fresh buying positions will continue if the markets continue to trade beyond 4460 & 14854. There are chances that Nifty may move 339- 340 points up & Sensex may move 1174 - 1175 points up. There are chances of a weekly movement of around 755 points & 2755 points in Nifty & Sensex respectively.

If the markets sustain above 4772 & 15990 levels, then they will try to touch 4869 & 16342 levels.

On the other hand, market has a weak support at 4206 & 13935 because the markets may further fall down to 4109 & 13584 levels from this point due to panic selling & profit booking which can act as a strong support.

US Markets Technicals

Both Nasdaq & Dow has become strong at these levels. The trend for fresh buying positions will continue if the markets continue to trade beyond 2332 & 11427. There are chances that Nasdaq may move 137 - 138 points up & Dow may move 564 - 565 points up. There are chances of a weekly movement of around 405 points & 1615 points in Nasdaq & Dow respectively.

If the markets sustain above 2500 & 12092 levels, then they will try to touch 2551 & 12298 levels.

On the other hand, market has a weak support at 2197 & 10888 because the markets may further fall down to 2145 & 10683 levels from this point due to panic selling & profit booking which can act as a strong support.

Intraday Market Technicals for 11th August

Both Nifty & Sensex has become a bit weak at these levels. The trend for fresh buying positions will continue if the markets continue to trade beyond 4505 & 15058. There are chances that Nifty & Sensex may open 135 - 136 points up & 540 - 541 points up. There are chances of an intraday movement of around 245 points & 800 points in Nifty & Sensex respectively.

If the markets sustain above 4597 & 15439 levels, then they will try to touch 4628 & 15569 levels.

On the other hand, market has a weak support at 4413 & 14677 because the markets may further fall down to 4381 & 14547 levels from this point due to panic selling & profit booking which can act as a strong support.

Derivatives Calls

Futures

Buy Nifty Aug' 08 Futures above 4565.00 levels with a target of 4795.00 & with a stoploss/ average below 4495.00.

Buy J&K Bank Aug' 08 Futures above 520.00 levels with a target of 588.00 & with a stoploss/ average below 493.00.

Options

Buy Nifty 4800.00 CE Aug' 08 with a target of 74.00 & with a strict stoploss below 29.00.

Buy IDFC 110.00 CA Aug' 08 with a target of 6.00 & with a strict stoploss below 2.40.

Commodities

Sell GoldM MCX 05th Sept. Futures below 11770.00 levels with a target of 11171.00 & with a strict stoploss above 12202.00.

Long Term Delivery Calls

We strongly recommend a buy on Zuari Inds. at current levels with a long-term target of 609.00.

We strongly recommend a buy on Ingersoll Rand at current levels with a long-term target of 765.00.

Medium Term Delivery Calls

Buy Ind Swift Ltd. if it sustains above 26.30 levels with a medium-term target of 29.30 & with a stoploss/ average below 24.00.

Short Term Delivery Calls

Buy OnMobile if it sustains above 535.00 levels with a short-term target of 597.00 & with a stoploss/ average below 500.00.

Buy Man Inds. if it sustains above 72.00 levels with a short-term target of 78.00 & with a stoploss/ average below 70.00.

Last week we had clearly and boldly told u that above 14778 index may touch 15259 and above 4599 nifty future may touch 4636……… Look what happened in a week???? Above 14778 Index had touched 15422.82 and nifty future had touched 4629.85………… Since 14^th April we r giving u all index and nifty prediction like this…… Almost perfect…. Since april, every week we always been very perfect in index and nifty future levels predictions….. Since Last 6-7 months of negative and volatile market…..our clients are taking advantage of this huge volatility and making money through our paid services…….. We are providing intraday cash market calls, intraday nifty future calls, intraday future calls, BTST, STBT, 2-3 days future calls, positional future calls, Short term-medium term sure shot delivery calls and many other informations to our paid clients…………Join us for getting mind-blowing paid services in this Indian stock markets…Create " WEALTH" …. U r just one call away

From Stock future recommendations, Neyveli touched 129 from 119(Reco Price) , Sesagoa touched 3640+ from 3514, IFCI touched 52+ from 50, DLF touched 554+ from 515, Unitech touched 174+ from 169, Praj touched 199 from 189, IOC touched 440+ from 421, Hind.Oil touched 140+ from 127 and RNRL touched 107 from 102…….. Mind-blowing performance and good earnings in a week only……

From Delivery recommendations MRPL touched 76 from 69, Aptech touched 235 from 192, Assam Co. touched 27 from 25, Aftek Info touched 47 from 41………

Last Week we have also told u all like that "USE DIPS AS BUY OPPORTUNITIES, TILL INDEX STAYS ABOVE 14104….." Look What happened……

On Friday night Dow Jones had closed 302+ and nasdaq 58+ and crude was down heavily and closed at 115.15…………This will give boost to our stock market on Monday and in coming days also……….In Coming Days Selected Smallcap-Midcap will outperform the markets. But remember to take profits regularly………

Above 15281, 15423,15697,15790….Only Below 15035, 14888,14725……..
Above 4599, 4636,4680,4734…..Only below 4471, 4435,4405,4377………
BSE Index Prediction for Week (11.08.08 To 15.08.08) :-
Index	Closing Price	Support	Stoploss	Target 1	Target 2	Target 3
BSE	15167.82	15035	14888	15423	15697	15790
Nifty Future's Prediction for Week (11.08.08 To 15.08.08):-
Index	Closing Price	Support	Stoploss	Target 1	Target 2	Target 3
Nifty	4547.45	4435	4405	4636	4680	4734
Nifty Future's Hot Scripts for Week (11.08.08 To 15.08.08) :-
Sr.No.	Company Name	Closing Price	Support	Stoploss	Target 1	Target 2
1	DCB	56.25	54	52	64	70
2	Escorts	85.50	83	81	95	103
3	Adlab Films	563.60	557	550	584	602
4	TTML	28.35	27	26	32	35
5	Sesagoa	171.70	166	162	178	185
Weekly Trading's Hot Scripts for Week (11.08.08 To 15.08.08) :-
Sr.No.	Company Name	Closing Price	Support	Stoploss	Target 1	Target 2
1	DLF	543.25	536	528	558	573
2	IOC	435.70	428	423	454	468
3	Unitech	176.20	172.00	167	184	193
4	R Power	170.50	166	162	179	188
5	IFCI	50.60	48	46	54	59
For Delivery Based Investment Hot Midcaps/Smallcaps for Week (11.08.08 To 15.08.08) :-
Sr.No.	Company Name	BSE Code	Closing Price	Stoploss	Target 1	Target 2
1	Essar Oil	500134	233.75	219.00	247	259
2	Nocil	500730	26.30	24.00	30	33
3	Aftek	530707	47.35	41.00	55	63
4	Hind.Oil	500186	141.35	132.00	150	159
5	RNRL	532709	103.70	96.00	109	117
6	Aptech	532475	231.35	217.00	245	258
7	MRPL	500109	71.20	65.00	78	86
8	Salzer Electronics	517059	70.00	65.00	79	94
9	Deccan Aviation	532747	83.60	77.00	93	106
10	Surya Pharma	532516	107.05	101.00	119	133
11	Assam Co.	500024	26.40	24.00	30	32
12	Zensar	504067	141.15	132.00	149	160
13	Webel SL	517498	241.80	230.00	254	268
14	Rajesh Export	531500	53.30	48.00	57	62
15	ASCL	532853	40.50	36.00	49	58
In Coming days Selected Smallcaps and Midcaps will outperform the markets…..

Sensex Technical View :
As has been repeated day after day that Sensex should take a shot at 15800 zone in this upmove. Technically Sensex has broken the down sloping trendline from 21200 and 17500 . The next important trendline resistance comes at 16200-16400 which is another trendine from 18900/17500.

On the fibonacci retracements 61 % correction level comes to 15800 which is an important level to watch in coming days.

Earlier in many of the newsletters / blog articles/ powerpoint presentations it was mentioned 12500-12800 is the important zone which was being mentioned from 17k-15k levels continously. Markets are up 20 % from the low close to the level suggested. In this week we would be out with a new presentation giving the future outlook with a detailed study from past !!!!

Stocks to watchout for :

Some trading calls which can be taken as per mkt opening :

Century textiles buy above 552 for a tgt of 580-600 .
Hindalco buy arnd 143 stop of 139 tgt 152.
SCI has seen a good built up and can tgt 260 levels in short term.

Bounce back candidates :

Rajesh Exports life high of 204 and 52 week low at 47 is now available at 53 which is 1/4 from the high. The stock has not seen much of a dead cat bounce as yet. A move above 55 could see abounce of 20 % ... Fundamental trackers can put in a view .

ABG shipyard, Bharti Shipyard , Patel Engg , Inox, Bank of Maharashta could be some of the bounceback candidates.

NIFTY on a gap up will open around 4630, which is a very important level.

we need to see a closing above this levels of 4630 to sustain further upmove.

nifty has good resistence arnd 4640-60 levels, and if it can cross this level, nifty can go on to hit 4710 for intraday.

for any positional view, keep an eye on 4630 levels, it will be the key for further moves in the market.

if we close below 4630, we will have to watch tuesday's market, and in case tuesday is weak, positional shorts can be taken with SL of 4630 on closing basis

NIFTY is forming a rising wedge (bearish pattern) on hourly charts with a likely target of around 4200. We may open gap up today. Resistance will come at 4600 - 4630 levels . It will be interesting to see if market touches 4700 levels or perhaps even 4800 in the coming days before a good fall. For now, be cautious on all upmoves and keep a close eye on the wedge. The moment the wedge is broken, expect good correction.

Nifty :: As we say in our last post mid term bullish structure still intact.. After breakdown Nifty close above break down support 4480.. Now for 11^th Aug 4470/4460 works as strong support. In one level above 4510 momentum seems up, and below 4510 momentum down.. Watch strong resistance in up swing 4641/4723, And in down move 4500 to 4460.. Our strategy for 11^th above 4510 buy on dip (S.L 4460) sell at high (S.L 4641).. Resistance for up move at 4580/4615/4641/4694/4723/4748.. Supports at 4510/4490/4460/4434/4370..

DERIVATIVES STRATEGY FOR RPL

SHORT TERM PICK

The Indian market saw smart recovery after the initial dip and close in green zone. Nifty had bounces from the lower trend line 4461and close above 4500 levels. For the coming session if nifty able to cross 4583 we can see rally up to 4638-4680 zone .On the lower side 4460 will act as support zone breaking below channel trend line can witness some selling pressure.

Last week nifty closed with the gain of 2.63%. Nifty and Sensex making Inverse Head and shoulder pattern on the daily chart , which gives the target of 5100 levels. But we can see some profit booking around 4680-4730 levels .For coming session if nifty able to close above 4588 we can test 4642-4722 closing below 4502 we can see nifty will test 4460-4396levels.for this week key levels will 4500
weekly:- we had mention about bear losing control on weekly chart ,If nifty close above 4583 next target 5000—closing should be on weekly basic

11AUG BUY ICICI BANK ABOVE 740 TGT 778>803STOPLOSS 721
BUYL&T ABOVE 2845 TGT 2921-2997 STOPLOSS 2810
SHORTERM BUY ESSAROIL ABOVE 249 TGT 283>301 STOPLOSS 241
SHORTERM BUY LAKSHAMI MACH 1232 TGT 1370>1535STOPLOSS 1134

STOCK OF THE DAY :
NAME: LNT (LAST CLOSE 2836)
SL : 2820
TRGT: 2880--2912
REVISED SL TO : 2840 IF 2880 IS CROSSED. REVISED SL AT 2850 IF 2890 CROSSED.BOOK 50% AT 2890 AND WAIT FOR 2912 FOR REST 50%.

morning thoughts..

The markets took a u turn as expected and moved beneath the resistance zones.
Technically the markets are still up and ideal for targets of 15600.
Structurally the markets are in a deceptive mood and is likely to trap
From a trading point of view , I would trade volatility and keep the strategy of buying dips
Astrologically a very major change occurs today which will continue for the rest of the week.
Moreover a devastating culmination of planets is taking place soon.
The number 2 , 1+1 , and 4, 1+3 , has important significance for the markets.
The supports for the nifty is at 4425 levels and resistance at 4620 levels
The supports for the sensex is at 14700 levels and resistance at 15500 levels


Stocks to watch

With the change of mars and mercury into saggitarius and Saturn in leo , crude oil will come to 100 $ per barrel.

The Nifty on Friday managed to make another doji candle. That makes it three consecutive dojis, each candle having a lower high and a lower low. Interestingly, each day was a green day, meaning that the Nifty closed with gains on each of these three days. The Nifty ended with 14 points of gains on Wednesday, 6 points on Thursday and 5 points on Friday. A doji suggests indecisiveness and technically signals that the market is taking some rest before starting another big move, which could be up or down. But after a long rally or a long decline, the formation of a doji may signal a reversal in the trend.

In this particular case, a doji was formed after a rally of 800 points from the lows. And we have seen three consecutive dojis since then. This should have signaled the beginning of a downtrend. The fact that it has not means that more analysis needs to go into this. Let us look at the details and the circumstances under which the doji was formed. The short term trend has been for quite some time now. On the daily charts, we have seen a pattern of higher highs and higher lows, which again suggests bullishness and which means we are in an intermediate term uptrend too. On the daily charts, a bullish head and shoulders pattern was formed and a candle going through the neckline should have been a large range candle with good volumes but that turned out to be a doji. On the weekly charts, we are seeing a pattern of lower highs and lower lows, which means we are in a long term downtrend. And it will remain so till we have a pivot low higher than 3800 or if the prices were to go above 5300.

This means that we are in a short term uptrend, an intermediate uptrend but in a primary downtrend. We would expect the market to follow the longer term trend, which remains down. But that does not stop the market from following the short term and intermediate trend before following the primary trend. In such a situation it is best to follow the short term trend. Short term trends can be seen on the 30 minutes or 60 minutes charts. Attached below is the 60 minutes chart of the Nifty from the lows made on 16th July till date. Initially, we saw a big rally and then a corrective period before the rise started again.

Since the last three days the Nifty has been moving within a narrow range trend channel, as seen on this 60 minutes chart. As can be seen, this is a falling trend channel or a channel sloping downwards. The significance of a falling trend channel or a falling wedge after a long rally is exactly the opposite of the significance of a doji after a long rally. While a doji after a long rally holds negative implications, a falling channel or a falling wedge after a rally is a bullish sign. Another important thing present on the chart is a trendline connecting the lows formed on 16th July, 29th July, 1st August and Friday’s lows. This trendline shows that the Nifty is now at support and may not go down further. The trend channel shows that resistance is at 4550 and should not go above that. But Nifty cannot remain in this 50 point range forever. A trending move should now come about which would take the Nifty above 4550 or bring it below the lower end of the trend channel at 4450. We shall take a position depending on which side the Nifty breaks out on. For now, it is just wait and watch.

A LESSION IN PATTERN FAILURE

I am posting this chart just to illustrate, why conformation from Price is important and why we say that patterns are not infallible. The chart below is of TATAMOTORS (courtesy my friend Jigs!) and the pattern; Cup and Handle (CNH). This particular pattern is considered to be super strong bullish and always worth a trade; but to TRADE it, you must be patient and wait for a confirmed break of the horizontal resistance above. This delays the entry and probably eats into some of the gains but it ensures that you are on the right side of the trade! TATAMOTORS has yet again made a CNH pattern, a break above 450 and sustaining that would construe a valid breakout and get the pattern into play! If you are a chartist, then these are the charts you must keep and annotate, so you can use them in the future for reference. Once again this takes us back to the golden rule of trading use strict STOPS because the most bullish of patterns can also fail!

NIFTY ANALYSIS : Despite of weak global sentiment Nifty open firm and stay strong thought the day. From last three day Nifty move in a some range of 4470 to 4620 level. almost all major stocks are in breakout mode. So for any decline or correction 4440 or 4380 is act as a good support area and in worst condition 4200 is possible. And If it go above 4600 and give weekly close above 4600 then nifty turn in to bullish and lead it to the 5000 to 5200 level. Despite of high volatility downward risk is limited and think to buy on every decline for time frame of 2 to 3 month. For Monday support at around 4480 and then 4440 and at upside it go for 4570 to 4610. BULLISH

BSE SENSEX : It zoom to kiss 15300 and then it go for 15434 to 15640. At downside it has support around 15094 and then 14960. BULLISH

NIFTY FUTURE : Now above 4563 it go for 4595 to 4644 level. It has a good support around 4513 and then 4480 below 4480 it try to touch 4430. BUY

RELIANCE : For a day trading view, it face hurdle at 2280 and if cross this then it go for 2308 to 2332. At downside it has support around 2226 and then 2202. SELL

SBI : It zoom to kiss 1548 and if cross this then it go for 1580 to 1616 level. At downside it has support at 1510 and then 1480. BUY

TATA STEEL : It zoom to kiss 660 and if cross this then it go for 668 to 681. At downside it has support around 647 and then 639. HOLD

L&T : It zoom to kiss 2889 and if cross this too then it go for 2942 to 3034. At downside it has support around 2797 and then 2744. BUY

INFOSYS : It has a good support around 1656 if break this then slide up to 1633 to 1602. At upside above 1687 if go for 1710 to 1741. HOLD

ONGC : Zoom to kiss 1086 then it go for 1109 to 1144. At downside support at around 1051 and then 1028. BUY

REL CAP : Above 1444 it go for 1472 to 1517 level. At downside it has support around 1400 level and then 1370. BUY

REL : Above 1048 it go for 1065 to 1091. At downside support at around 1022 and then 1005. BUY

BHEL : For a day trading view, It go for 1813 and if cross this then it go for 1843 to 1890 level. At downside support at 1766 if break this then slide up to 1736 to 1690. BUY

DLF : For a day trader, it zoom to kiss 565 and then 581 to 604. At downside support at around 542 and then 526. HOLD

DLF has got a Break out from the channel and retesting the support.
Indicators are bullish, and the stock can move further up.
CMP: 549.75 TARGET:749 STOP: 502