Nifty (spot) 4447.75
Short term Technical View of Nifty
Now, Nifty is likely to rally towards 4700 by this month end and the next short term correction is likely to occur around 4700 level. This view holds good as long as Nifty stays above 4400.
Instead, if it fails to hold above 4350-4400 level, then it could decline towards 4200.
Extreme Short term technical view of Nifty
In the extreme short term, the level 4350-4400 is crucial. A long as Nifty sustains above this level, the trend would remain bullish.
Nifty Intraday trading levels
Today, if Nifty trades above 4380, then it could test 4475. Instead, if it sustains below 4380, then it could test 4350.
Trading Strategy for Nifty
For intraday, the crucial level is 4380. Trade long above this level and be short below this level.
Positional traders can hold their longs with a stop at 4350 for a target of 4700. Exit your longs if it trades below 4
350.
Medium term outlook of Nifty dated on 02 July 2008
The medium term outlook of Nifty has turned bullish and it is likely to move towards 5500 by this year end and this view holds good as long as Nifty stays above 3600.
Long term outlook of Nifty dated on 02 July 2008
The long term outlook of Nifty is looking bullish and it seems that Nifty is in the middle of this bull run. So, the bullrun is likely to continue for another 4 to 5 years and this view holds good as long as Nifty stays above 3600.
Short term trading calls of Stocks
The short term trend of this scrip is looking bullish and it is likely to test 185 in the short term and this view holds good as long as it sustains above 150.
On contrary, if it trades below 150, the short term trend would turn bearish and in the downside it is likely to decline towards 135.
For intraday, the crucial level is 154. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 150. In case 150 is violated, then short with a stop at 154.
HDFC BANK
The short term trend of this scrip is looking bullish and it is likely to test 1450 in the short term and this view holds good as long as it sustains above 1260.
On contrary, if it moves below 1260, then the short term trend would turn bearish and in the downside it is likely to decline towards 1150.
The crucial level is 1260 in the short term. Trade long above this level and be short below this level.
Infosys
The short term trend of this scrip is looking bullish and it is likely to test 1900 in the short term and this view holds good as long as it sustains above 1700.
On contrary, if it trades below 1700, the short term trend would turn bearish and in the downside it is likely to decline towards 1600.
For intraday, the crucial level is 1740. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 1700.
MTNL
The short term trend of this scrip is looking bullish and it is likely to test 120 in the short term and this view holds good as long as it sustains above 90.
On contrary, if it trades below 90, the short term trend would turn bearish and in the downside it is likely to decline towards 80.
For intraday, the crucial level is 96. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 90.
NTPC
The short term trend of this scrip is looking bullish and it is likely to test 195 in the short term and this view holds good as long as it sustains above 165.
On contrary, if it trades below 165, the short term trend would turn bearish and in the downside it is likely to decline towards 150.
For intraday, the crucial level is 169. Trade long above this level and be short below this level.
Positional traders can initiate longs on declines with a stop at 165. Initiate short if it moves below 165, with a stop at 169.
MOSERBAER
BUY ABV 118.05SL116.40 T120.50/122.50
SELL BEL 113.70SL115.15T111.10/108
RISKY CALL
RESURGERE.NS
BUY ABV 508.15SL501.95 T516.20/523.50
SELL BEL 485.20SL491.15T480.10/474
Market may open down with hugh gap. Market may down between 09.57 and 10.22 Market may steady or up side between 12.02 and 12.22. Market may close at down to previous closing.
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Opening Bell Call
Buy
RELIANCE - Reliance Industries Ltd
SBIN - State Bank of India
MARUTI - Maruti Suzuki India Limited
ISPATIND - Ispat Industries Limited
SESAGOA - Sesa Goa Ltd.
Opening Bell Call
Sell
IFCI - IFCI Limited
RNRL - Reliance Natural Resources Limited
NIITTECH - NIIT Technologies Limited
ELECON - Elecon Engineering Co Ltd
TATASTEEL - Tata Steel Limited
Yesterday DOJI and HARAMI pattern formed. We may see a gap down opening. Dow Crashed Overnight. There is a fear and panic in the air that spread to Asian markets and most of them are sharply down.Coming to our market Big Question, how will impact our market?
Gap down due to global cues and will move up.
Major Resistance at 4465 / 4500 / 4523 / 4544.
Major supports at 4416 / 4376 /4336.
Sensex : (14899.10) Today Sensex face resistance at 14905, if cross 14905 then goes up to 15045 and 15191. Sensex find support at 14759, if 14759 break then panic selling started and Sensex falls up to 14619 and 14473.
Nifty : (4447.75) Today Nifty face resistance at 4460, if cross 4460 then goes up to 4480 and 4503. Nifty find support at 4405 and 4374, if 4374 break which is a very crucial support then Nifty break up to 4362-4307.
Opto Circuit : (329.55) Sell OPTOCIRCUI below 331 for a target of 315 and 305. Stoploss at 336.
Tata Steel : (582.75) Sell TATASTEEL below 575 for a target of 560 and 535. Stoploss at 586.
Siemens : (555.10) Sell SIEMENS below 558 for a target of 545 and 535, our down side target is 490 in coming days. Stoploss at 565.
BHEL : (1766.20) Sell BHEL below 1770 for a target of 1724 and 1680. Stoploss at 1798.
Nifty :: And Nifty exactly correct from our make or break level 4513.Hole the day we see huge volatility with negative bias.. Now for 5th Sep. 4433 works as make or break level, below 4433 next strong support zone comes in between 4390 to 4345,below 4345 next 2 strong supports at 4270/4212.. Our strategy for 5th , if Nifty hold support 4345 then Buy on dip (S.L 4345) sell at high (S.L 4433), OR if open high Sell at high (S.L 4463) buy on dip. Watch strong resistance at higher level 4455/4463/4500
((Note : Technically we are s
Sensex is still not able to go comfortably towards 15500 and at the same time not able to dip to 13700-14000. We did get a trigger on tuesday with a runaway move but indices need to follow up otherwise it can be termed a one off move. Volatility will continue to be high for some days. As in being presented the corrective phase from 12500 should last around 50 sessions where in the range would be 13300( worst case ) /13700( ideal ) and 15500 ( ideal was said then too ) /15800/16400( optimistic ) on upside . We are just 15-20 sessions through so technically one can expect this range to remain !!!.
On short term basis 14400 -14600 is a support zone below which it could test 14050 and 13700.
DOW Jones tech view :
After some time some view on Dow Jones.
Technically on the upside 11700-11800 has been a major barrier for the index. Till it doesnt break above the levels the trend would remain weak. On the downside after todays correction which has made 11190 as of now is very close to the 61.8 % correction of the move from 10800 to 11800 odd. Technically the zone of 11180-11220 is very crucial and below 11100 it can be assumed 10800 could be in danger. The trend remains weak but a bounce back cannot be ruled out ! from 11200.
Market Observations and thoughts :
Resurgere Minerals follows the pattern of the newlisting stocks with 20 % lower ckt hope investors did not get trapped after the warning to take care .
Crude view is updated in the post below. With the global cues
Stocks to watchout for :
With the volatile markets one needs to keep lower volumes and keep strict stoploss in trading and be patient for opportunities . For on tuesday we had lots of client trades majority of the tgts done same day and lesser ones today with smaller qty. So be disciplined in the approach conserve capital and gains made on good trades. Also do have some reasons be it technical , fundamental or other statistical observation then just trade for the sake of it !
ROLTA is the only stock which has been holding strongly in this market. Closing above 345-348 could lead to 390.
Cadilla and Castrol are the other stocks which r firming up.
Breakout DISHTV
Best listed Indian companies: Forbes.
1. BHEL- Only PSU in the list.
2. Bharti Airtel- Strong management.
3. HDFC Bank- Among the best 7 banks in the world.
4. Infosys
5. ITC
6. L&T- Invest for 5-6 years, see the returns.
7. Mahindra and Mahindra- Strategic moves.
8. Reliance Industries- Intrinsic value.
9. Tata Steel- Bold moves and mine acquisitions.
10. Wipro.
Investors who want to put money in best companies may look at this list to pick best bets. My favourites are Larsen and Toubro, Mahindra and Mahindra, HDFC Bank and Tata Steel. Investors should do more research on these companies to pick good ones for long term investment. One should accumulate more on every fall.
Interesting stock: Oscar Investments
DNA published an interesting article on Oscar Investments (Non Banking Finance Company) which is simply mind blowing. This stock gained more than 80% in the last 3 months. Company earns Rs 13 billion from its stake in Ranbaxy Laboratories. It holds 4.74% stake (1, 698, 468 shares) in Ranbaxy Laboratories through promoters. According to the agreement, Oscar will get payment by March 31, 2009. So EPS will become Rs 755 per share from stake sale money. Mind blowing statistics! Will company share earnings with shareholders through dividends? Wait and watch!
CMP: 256 (BSE)
P/E: 32
EPS: 7.5
Book value: 196
1 year high-low: 590-98
Inflation: Inflation was eased for the second successive week and is at 12.34% vs. 12.4%. But RBI will go for CRR hike in October. It is a good sign for stock markets over short term which is struggling from profit booking. Investors should stay away from nuclear deal sensitive stocks like Areva T&D. Global markets are trading on weak note and many markets lost more than 2% value as credit crisis is getting deeper day by day. OPEC meet on September 9th is the most significant event.
2. Karvy Stock Broking recommends Kalpataru Power as buy With stock price as 1,030.003. Prabhudas Lilladher recommends Axis Bank Ltd as Outperformer With stock price as 921.004. Macquarie recommends Axis Bank Ltd. as Ouperformer With stock price as 750.005. Merrill Lynch recommendsTata Steel as buy With stock price as 700.006.
As discussed y’day it did not cross 4540 and traded below 4450 so now nifty will be sideways with downward bias.
Nifty,RSI and stochastics now in triangle and breakout will give direction.
***Nifty**** ~ September 4~
to 8.30 points and around 2.20 lakh shares were shed in open
interest with decrease in the cost of carry,
indicating long closure at higher levels. (bearish)
***Options**** ~September 4~
different strike prices indicating that volatility will remain high in
the coming days.
********Fund flow*** ~ September 2~
The Indian market opened on weak note and remained in the narrow range through out the session . For the coming session if nifty trader above 4481 we can see rally up to 4521-4540 if nifty trade below 4438 it can test 4401-4381 .Market will react on global cues.2. Online stock trading results:ICICI bank gave a profit of Rs 1500, Satyam computer gave a profit of Rs 400 for every 100 shares traded as per the tip. ABB did not reach the entry price and thus trade set up was not executed.
3. Online stock trading tips for Strong Future stocks:
Indian Bk
Moser baer
Great Offshore
Jet Airways
Union Bk
Can Bk
BOB
Karnataka Bk
Educomp Sol
OBC
4. Online stock trading tips for Weak future stocks
Sterling Biotech
Hindalco industries
Shree Renuka
Bongaigaon
Chennai Petroleum
Guj.Alkalies
Triveni engg
housing devp
Oswal Chem
Rel Comn
5. Reliable stock trading system tips for day trading:
Buy ICICI bank>718.1,720,730 sl 712.8
Buy DLF>525.1,531,534,539 sl 519.8
I like two banking stocks. Uco (above) and Karnataka bank (below). The problem with breakouts these days is that there are no follow up moves.
Finally, I decided to learn EWT ! My first effort took me 4 hours, but I came up with something cool. After Z, I guess the whole thing starts again. See, I'm a fast learner !
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