BUY TITANABOVE 989TGT 1023>1040 STOPLOSS 973
Weekly Nifty resistances 3193-3254
Last week nifty surged by 5.35% with significant gains and Volatility Index close below 50 as indicating stability in the market. For coming session nifty is heading near multiple resistances zone 3153-3254 on sensex 10400 .Nifty is moving in channel breaking below 3017on closing base we can witness profit booking towards 2860 zone .on the lower side for this week 2970-2930 will act support zone.
The Indian market opened marginally lower note on weak global cues and close in green zone. For coming session if nifty trade above 3092 it can test 3130-3153 zone on the lower side 3033-3015 will act as support zone .
NIFTY FUTURE
BELOW 3018 TARGET 2999-2975-2936
Buy LUPIN above 605 SL 595 Target 614-635
Buy M&M above 325 SL 307 Target 333, 344
Buy GAIL above 218 SL 214 Target 221-224
Sell AMBUJACEM below 70 SL 74 Target 67.5-65.40-62.5
Sell HDFCBANK below 1033 SL 1055 Target 1005-980
Sell NTPC below 179 SL 183 Target 176-173-170
BUY TITAN ABOVE 989 TGT 1020/1040 SL BELOW 970
BUY VOLTAS ABOVE 58 TGT 63 / 67 SL 55
BUY SUN TV ABOVE 168 TGT 175 / 182 SL 163
BUY IDBI @70 SL 67.50 TGT 74 /78
BUY HDIL ABOVE 170 TGT 190 / 205 SL 159
DELIVERY CALLS
BUY IOC @ 420 TGT 500
ONGC BUY ON DIPS TGT 775 / 800 ...
The short term channel continues to remain in place with the upper end target coming to around 10325-10500 zone roughly for this week.
At the same time this coincides with the initial tgt of 9900-10500 zone to be seen once we start sustaining 9300. Also the index is closed to the channel line which resisted the last move.
So only if we start sustaining above 10500 for more then 3-4 sessions do we open up to 11650/12500. But this possibility is still not in the picture.
As per the time analysis after the 50 sessions of fall we see a counter phase of around 30-40 sessions and we are through 35 of it ( or say 11-12 weeks and 4-8 weeks) . So the timewise run is almost complete. Although a move out of this pattern for more then 50-60 sessions would mean a possible change in sentiments. Time wise analysis on short term duration may not be highly accurate but gives a fair idea.
Ideal strategy would be to book profits in the zone of 9900-10500 and wait for some time and then take a fresh call.
Stocks to watchout for :
IDFC
The stock looks set for a quick move if able to sustain above 72 levels. The stock has been battered like a pure infra stock but not seen a similar counter move .
Chamble Fert
If continues to sustain above 43 could see 50 odd levels also in short term.
Gammon India , Bhushan Steel , Corp Bank etc and some other small cap stocks may give a bounce back in coming days but would be difficult to trade so not looking into them.
Market Observations and Thoughts :
Is a crude bottom in place :
Yet again we see a squeeze in longs of crude. In the Jan contract expiry crude quoted at 33 whereas in Feb its been trading arnd 42. This implies a clear difference of 20 % !!.
The last time such a thing happened was after a drop from 145 to 110 levels and then we saw 125-130 odd in one mth and 110 in other. This was a turning point on Crude after which we dint see 130 odd levels on the screen although analysts continued to remain bullish.
Technically around the 40 level mark is an important long term support which is still not broken in actual terms. So in the next few weeks we may get confirmation of the same. This is just a brief personal view but i am not a regular watcher of commodities but i have pointed out turnarounds well ---- OLD CHARTS . It seems a bottom is in place or is not far away technically and time to stop shorts on crude n small longs. Rest Markets are supreme we can go wrong :P
Few sessions back had put up a few charts for short term moves... Just a review of the charts and the movement done... Power Grid dint do much , Tata Power also did tgts but no review here. Click on charts to see enlarged version.
On the Monday ,Opening is flat to up,
Stay Long Above 3085,Sl Below 3070,Tgt 3115-3130-3145-3170-3190-3220++,
Sustain Below 3060,Sell with Sl Above 3075,Tgt 3040-3000-2980-2895-2845.
(Risk Traders Keep Sl Below 3045 & Sell Below 3045)
NIFTY Weak Below 2990,Instead Buy NIFTY 3000PE Jan Series to Hedge
NSE INDEX (C-3077.50) : Nifty main trend is bullish but book profiting on higher level of 3200 also possible. Advised to buy on dip strategies.
Resistance : 3110-20 / 3145/ 3190
Support : 3070 / 3040 / 3025 / 3000 / 2935
BSE SENSEX (C-10099.91)
Resistance : 10200-250 / 10300/ 10420
Support : 10090 / 9995 / 9920 / 9890 / 9765 / 9460
NIFTY FUTURE (C-3082.40)
Resistance : 3095 / 3120 / 3150-60
Support : 3075 / 3050-40 / 3020 / 2995
BANK FUTURE (C-5156.05)
Resistance : 5160 / 5250 / 5330
Support 5070 / 4985 / 4500
With the Transition of Sun,BROKERAGE and NBFC stocks like INDIAINFO,EDELWEISS,IDFC,Etc will outperform in coming week
TIME SERIES AND OUR ADVANCE ASTROLOGY SAYS WE WILL HAVE CORRECTION FROM 23 DECEMBER-SO PLEASE TRY TO EXIT FROM MKT AT HIGHER LEVEL
Bullish Stocks 4 Jan Series
United Spirit,Reliance,Tata Steel,GVK,CoreProj,Pantaloon,Chambal Fertilisers & Chemicals Ltd,,Voltas Ltd.
DLF TGT 400+, GVKPIL TGT 27+,CAIRN TGT 130---- , POWERGRID TGT 88+,GTL INFRA TGT 38+,GLENMARK PHARMA TGT 240---- , AXIS BANK TGT 575+
Stock Watch for Monday : Polaris Software Lab Ltd,
BSE Code: 532254, NSE Code: POLARIS.
ONGC
Initiate Buy @ CMP or Dips Maintain a Stoploss Below 680
Reliance Natural Resources Ltd.
Maintain Buy Above 58
ADLABS (188.50): This stock looking strong up move we advised to Buy Only Above 190-195 level for 3-5 days hardly.
Buy ICICI bank above 480
Buy TATACOMM Above 515-520
TATA POWER(741 ):Buy with Sl Below 729,Tgt 758-772
Buy SIEMENS Above 290,Sl 280,Tgt 300/305/310/320++
Buy TITAN Above 985,Tgt 1020/1040,Sl Below 970
Buy VOLTAS Above 58,Tgt 63/67,Sl 55
Buy SUN TV Above 165,Tgt 175/180/185,Sl 163
Buy IB REAL Above 160,Tgt 165-175-185,Sl 150
Buy VOLTAS Above 58,Tgt 63-65-70,Sl 55
Buy IOC Above 420,Tgt 450-480-490,SL 395
Buy IDBI 70,Sl 67,Tgt 74/78
Buy HDIL Above 170,Tgt 190/205,Sl 155
Buy ASIANPAINT Above @ 900,Tgt 925-950-1005,Sl 892
Buy BHEL Above @ 1445,Tgt 1470-1495-1510,Sl 1435
Buy COLGATE Above @ 405,Tgt 410-415-420,Sl 400
Sell CMC Below @ 315,Tgt 305-295-275,SL-320
Sell HDFC BANK Below @ 1045,Tgt 1030-1000-995,SL-1056
Sell HEROHONDA Below @ 825,Tgt 810-795-765,SL-830.
HIND UNILEVER
Buy Above 269,Sl 266,Tgt 271/276+
Sell Below 263.Sl 266,Tgt 259/254+
ROLTA
Buy Above 128,Sl 127,Tgt 130/133
Sell Below 126,Sl 127,Tgt 124/121
DEC FUTURE SERIES
BUY IOC 420CA,Tgt 500 (POSITIONAL)
ESSAROIL ( 93.65) : Buy,Sl 90.2,Tgt 96.5/98.55/99/102+++ levels
RIL (1349) : Buy @ 1325/30,Sl 1309,Tgt 1360/1375
TATAPOWER (736.9) : Buy @ 720/25,Sl 715,Tgt 735/750/765
TATA MOTOR (179.3) : Buy @ 176,Sl 169,Tgt 185/195
GMR Infra Buy @ 71/72,Sl 69,Tgt 72.7/73.4/74-75/76-77.8 (Lot Size 1250)
Buy PUNJ Above 170,Sl 164,Tgt 185+
Buy OBC (Close: 155)
POWER GRID CORP(C-83.5): Daily Chart Looking Strong.Buy Around 82.5,Tgt 87++,Support 81/78
UNITECH(C-44.25): Daily Chart Looking Strong: Buy Around 42.3,Tgt 47++,Support 40/35
SATYAM COMPUTER(C- 162.7): Weekly Chart Looking Weak: Sell Around 182,Tgt 132++,Resistance 213/263
GTL Sell @ 205/207,Sl 212,Tgt 204/202-201/198-197/194/190/188 (Lot Size 750)
GOLD
Resistance : 843.00/849.70/851.50/855.10/865.60/883.40/908.60/914.00
Support : 829.20/826.70/824.40/820.50/816.00/812.40/807.30/803.00.
CRUDE
Resistance & Buy : 43.44/43.75/44.52/44.97/46.10/46.93/47.14/47.46/49.07/50.54/51.00/52.01/53.61/55.04/57.24/63
Support : 40.90/38.00
As posted earlier the markets reached a reasonable level from where the Bears take advantage to short the market. The final leg of 100-150 points of Nifty is an advantage to off load the stock to retail investor as the markets are ready to face the slow down numbers more wildly than before. The Inflation is no longer an issue but reviving the staggered investment plans and fear to face the future in the corporate minds is the real challenge. The markets will see the dwindling profit margins and “Put On Hold”- expansion plans, then the markets see….
The fight for survival…..3*12
The day displayed a strong fight for survival of the market at 2650 level.
As posted earlier the high light of the day is the smart recovery of SBI to
close above 1085. The RIL is struggling to gain strength to move up but it displayed a decent fight against the Bears. The ONGC and Bharti were subdued despite good effort by the Banking lot to move up. The star of the day is Tata Steel posted 10% rise with huge volume and the DLF made equal volume with good show to cross the 191-93 resistance.The LIC Housing along and SUN gave above 20% rise in the non index shares is a clear sign of shuffling and choosing the future out performers. The techs lost the sheen due to foreign brokerage house CLSA report dented the growth in share rise, Infosys chopped
down by 4.3% Wipro TCS and Satyam were no exception.The teleco lost value by 3-5% but the autos recovered on short covering. The Banking sector posted decent gains on the hopes of fall in inflation that can force the Central bank to take an early decision on rate cuts. The Nifty is at cross roads and waiting for break out. In case the RIL fails to cross the 1093 level and trades below 1040-35 then the markets will easily touch the 2000-2100 level with out much resistance from Bulls.
The SBI gained but the RIL, ONGC and Bharti are in negative territory with new members from tech sector. The Nifty is weak below 2670-80 level but gain strength above 2705-11 that can fuel fire in Bulls to
trap the Bears to cover their positions. In case BHEL and LT recovers then there was some glimmer of hope in the capital goods and Infrastructure sector that build due to the NHAI announcements.Recovery but weak…..2*12
The markets took the support once it touched the low at 2571
level and it managed to claw back to close at 2657 level a much needed support to Nifty above 2630 level and the weakness in RIL and ONGC is a great concern at this point in time.The Australia cut the lending rates by 100 bps and our top brass discussing for the timing. The stimulus package announced to has some
bearing on Infrastructure companies but the release of funds and the cost that matters a lot at this hour. The SEBI announcement of margin facility to all participants can improve the sentiment as the news flow infavour of Bull can propel the momentum in the Nifty levels back to 2800 levels.In case the resistance at 2750 level crossed with ease, close above 2735-42 will add value to Bulls efforts. The bears will cover the positions as the positive news unfolds as progress progresses and the Nifty may touch again 3280-3300 level with short covering.
The only threatening concern unfolding is the verbal war with neighbours on Mumbai blasts can easily change the direction in case the situation provoked for a war on the terrorist camps.
The RIL has to cross the 1120 level, SBI has to cross the 1085 level and ONGC has to trade above 705level to see the Nifty to scale for new territory above 2860 level.
ROCKET STOCK…. RPG LIFE SCINCES Ltd. At 21.35/-; TARGET 35/-
RPG LIFE SCINCES Ltd Trading in BSE & NSE at 21.35/- . Target 35/- for short term.
Market is stabilizing between 9,500 to 11,000. Coming week NIFTY will touch 3,250/- and Sensex will touch 10,785. This week (22nd Dec to 26th Dec) Mid cap and small cap rally will expecting.
Right time to Enter Good Fundamental Stocks for short term. If you enter good Fundamental Stocks at present rate you will get 50% appreciation within short time.
RPG LIFE SCINCES Ltd; is R P Goenka Group Company, Dividend Paying Company (15% for 2007-08; Book Closure Date 13 August 2008 to 27th August 2008.) With Good NET PROFIT With EPS 11/- for 2008-09. First Quarter Net profit was 2.88 Crores. Second Quarter NetProfit was 2.98 Crores. Equity 11.5 Crores, Company Projected EPS for 2008-09 is 11/- with Net Profit 16Crores. As per This PE only 2. Normally PharmaCompanies PE will be minimum 10. If we take PE 5 It will come 55/-. (PE will take Based on Good Bussiness Group & Pharma Industry).
Daily accumulating Big Big Mumbai BULLS and Operators (Daily above 80% delivery postions check nseindia & bseindia websites); Because of Now stock is available at very very cheep price at 21.35/- . Projected Annual EPS 11/- for 2008-2009, with PE 2 only. Narmally in worst condition also Pharma companies PE will at 5 But Now PE is only 2.Safe Investment at 21.35/-.This share is falling because of Market Down, Company circles are taking this as advantage for grabbing with cheep price. Daily Grabbing with Company Circles. Its very Valuable share at 21.35/- . Risk is very very less at current price.
Total Equity of 11.5 Crores (Its very small Equity in Pharma). Promoters Holding 43.71%; Insurance Companies 6.56%; CorporateBodies 15% Public only 34%
RPG LIFE SCINCES Ltd, R P Goenka Group. RPG Life Sciences Ltd full spectrum, world class, customer focussed, innovative pharmaceutical organisation.
develop, manufacture and market, for national and international markets, a broad range of branded formulations, generics and bulk drugs developed through fermentation and chemical synthesis routes.
Three major activities of RPG Life Sciences Limited are:
· Manufacturing and marketing of bulk drugs (synthetic Active Pharmaceutical Ingredients) & formulations internationally [SBU- I],
· Pharmaceutical formulations & Domestic Marketing [SBU – II] and
· Fermentation & biotechnology [SBU – III].
RPGLS is present in the domestic as well as the international markets. It exports its products primarily to Europe, Latin America, Africa, Australia, CIS Nations & South East Asian countries.
RPGLS employs 750 people. It is a multi-location pharmaceutical manufacturing company with 4 locations. Manufacturing unit at Thane produces Active Pharmaceuticals Ingredients (also called as Bulk Drugs) and is ISO 9001 certified and has Therapeutic Goods Administration (TGA), Australia, and approval for 3 of its major products namely Diphenoxylate Hydrochloride, Haloperidol and Propanthelene Bromide.
The Formulation Plant at Ankleshwar GIDC manufactures pharmaceuticals formulations for Domestic as well as for exports and is ISO 9002 and ISO14001 certified. The site also has MHRA (Medicines and Healthcare products Regulatory Agency, UK) approved plant for catering to its Global Generic business.
The second Plant at Ankleshwar makes API through Fermentation route to cater to the Biotech Business.
RPG LIFE SCINCES Ltd Partnership with
· Dossiers/DMF Europe, Canada
· Artificial Sweetner-UK
· NSAID-Europe
· Formulations - Asia, Canada, Europe
This company has a great future & good company and Equity is very small. Even if we give a conservative P/E of 5, It should be trading at Rs.55/-. So there is a long way to go. Investors with faith in RPG Life Scinces Limited management and having patience will definitely earn a lot.
Possitive Points for this stock for Up moving:
1) Mumbai Bulls and Operators are accumulating at current price. Daily above 80% delivery in NSE and BSE.
2) Company doing very good with EPS 11/- PE only 2; Avialable very cheep at 21.35/-
3) Equity is very small at 11.5 Crores (Pharma Company)
4) Group also very good R P Goenka Group
5) 15% Dividend Paying Company
6) Promoters Holding is good 43.5%
Enter current price at 21.35/- Short term Target 35/- Medium Term Target 55/-
Strong Fundamentals. Risk Free Investment at current price.
BSE Sensex(10099.91) and Nifty(3077.50) closed 4.2% and 5.3% up last week.Inflation was also under control at 6.84 v/s 8.00 last week.Crude oil was at 33$.CBOE Vix Volatility Index was down to 45.Market recovered from low levels on interest rate cut by Federal Reserve targetting 0.25% to 0%.Better than expected inflation nos. also boosted the sentiment.Despite bad news like Satyam-Maytas deal worth $1.6 billion being called off due to pressure from all quarters as it was viewed as only beneficial to the promoters of group company,Possibility of inquiry against Reliance ADAG group companies like RNRL and REL for violation of FEMA law by Enforcement Director the market was able to absorb it and move higher.Expectation of furthure interest rate cut by Reserve Bank Of India and due expiry of Future Option series on 24th December will make market volatile. Support for Sensex is 9750 and for Nifty 2960Resistance for Sensex is 10525 and Nifty is at 3220. Small Buying of FII was visible..Nifty put-call ratio was 1.03.Nifty 3000 put option added open interest.RNRL and SUZLON added open interest.Reliance Industries and India Cement lost open interest.
Strategy for Future Option players.
1)NTPC(182.20) Lot Size-1625 Shares
Buy one call option of January month strike price 180@11.15 Rs.
Sell one call option of January month strike price 190@7.10 Rs. a
Premium Paid=11.15*1625=18118.75 Rs.
Premium Received=7.10*1625=11537.50 Rs.
Net Premium Paid=18118.75-11537.50=6581.25 Rs.
Maximum Profit=190-180=10*1625=16250.00-6581.25=9668.75 Rs.
Maximum Loss=6581.25 Rs.
Break-even=184.05 Rs.
2)IDBI(70.00) January month future-Lot Size 1200 shares.
Buy one lot January month @70.00
Sell one call option of January month strike price 70@6.50 Rs.
Premium Received=6.50*1200=7800.00 Rs.
Max Profit==6.50*1200=7800..00 Rs.
Max loss=Unlimited.
Trading Idea
1)TCS(513.55)Buy this stock in decline and trade.
2)Allahabad Bank(50.05)Buy this stock in decline and trade.
Trend of Major Stocks
STOCK TREND NO.OF Days Weekly Monthly
Trend Trend
ICICIBANK.NS Bulllish 3 Rising Rising
INFOSYSTC.NS Bulllish 4 Rising Falling
ITC.NS Bulllish 2 Rising Rising
MARUTI.NS Bulllish 5 Rising Falling
SATYAMCOM.NS Bearish 3 Falling Falling SBIN.NS Bulllish 2 Rising Rising
TATASTEEL.NS Neutral 1 Rising Rising
TCS.NS Bulllish 2 Rising Rising
Technical indicators of major Stocks
MFI=Money Flow Index
RSI=Relative Strength Index
ADX=Directional Momentum Index
STOCK CLOSE MFI-21 RSI-14 ADX-14
ICICIBANK.NS 472.8 66.9 66.99 20.8
INFOSYSTC.NS 1191.3 63.64 49.85 20.37
ITC.NS 179.05 57.66 59.11 12.37
MARUTI.NS 549.4 69.02 55.22 27.84
SATYAMCOM.NS 162.7 16.3 28.18 37.28
SBIN.NS 1287.45 55.37 58.16 17.19
TATASTEEL.NS 229.1 65.76 59.25 25.72
TCS.NS 513.55 60.36 49.07 14.44
Review
Since after Nifty giving the breakout above 2860 is holding on to those levels and moving upwards with volume indicating the near term bullishness to continue till 3240 to 3300 – with strong weekly closing for consecutive weeks and also closing above the crucial level of above 3000. If nifty closes below 2950 level then this bear market bullish rally will come to end and we may retest 2860-2750 or may even the lows of October – which may not be near term possible – unless some unexpected news flows comes from overseas or if the Indo – Pak situation turns to war.
Outlook
On weekly charts Nifty is indicating bullishness but on the upside on the daily charts Nifty is facing many immediate resistance levels like 3115 -3160 -3240 which it would not find that easy to surpass. So, Nifty may retest the 2950 levels before commencing the up move again. So, any dip on the nifty is buying until it closes below the 2950 levels for 2 consecutive days.
Support and Resistance for the week
Support 3022 – 2958 – 2910 – 2860
Resistance 3115 – 3180 – 3240 – 3300
Strategy for the week
Nifty
In the last week blog it was mentioned to sell out of the money calls and puts – one may continue it till the end of expiry as it would be fully profitable as only there are 3 days remaining for expiry. And every dip was recommended to buy – move the stop loss for the longs to 2950 on closing basis.
Since I am not comfortable with the nifty levels for time being, it would prudent to desist trading in Nifty until it breakout on either 2950-3240. So, avoid trading would be the best strategy – when in doubt better to not trade.
For compulsive traders as said buying every dip with stop loss 2950 on closing basis would be better strategy.
Scrips Review
Reliance (1351.30)
After making a high around 1407 facing resistance to move further, so longs in Reliance either book profits or move the stop loss to 1340 on closing basis.
Sell below 1340 Reliance if closes with volumes for target of 1180 and 1050 in near term.
Tata steel (229.10)
Move the stops to 214 on closing basis or square the position since facing resistance near 236 levels – re-enter once it close above 236 levels for the target 268 – 287.
Rcom (216.35)
Stop Loss Triggered
ICICI Bank (472.80)
Targets Achieved.
Sell ICICI bank with stop loss of 514 on closing basis for target of 410.
HPCL (275.75)
Buy with stop loss 254 for a target of 325.
Trading tips
The strength of every support or resistance zone depends on three factors: its length, its height, and the volume of trading that has taken place in it.
Weekly Trend (22-12-2008 to 26-12-2008) Volatile and Mix
2775 / 2845 / 2890 / 2965 / 3040 [NIFTY SPOT : 3077.5] 3110 / 3150 / 3205-10-20 / 3225 / 3250
9300 / 9420-90 / 9630 / 9760 / 9805 / 9970 [SENSEX : 10099.91] 10310 / 10440 / 10530/575
2850 / 2970 / 3040 [NIFTY FUT : 3080] 3155 / 3230
4460 / 4800 / 5025 [BANK NIFTY : 5156.05] 5375 / 5600
Buying Expecting Once SENSEX Starts Trading Above 10180 , Till Then Be Stock Specific Only.
Mkt View
WEEKLY MARKET OUTLOOK
Trend : Bullish
NIFTY FUT OI up 8.48%, NIFTY FUT up 5.50%, last week.
OI of NIFTY 3000 CE is down 18.71%, with rising prices showing profit booking.
OI of NIFTY 3100 CE is 66.64% with flat prices showing call buying. OI of NIFTY 3200 CE is up 66.24% with decreasing prices showing call writing.
OI of NIFTY 3000 PE is up 338.57%, 3100 PE is up 1292.13% with decreasing prices showing put writing .
We expect NIFTY SPOT Strong Resistance at 3210-20 levels. On down side, Support at 2965, 2890 levels.
We expect expiry between 3100-3200 levels in current situation.
WEEKLY VIEW ON NIFTY FUTURE
FERTILISER
Trend : Bullish
Total OI of BIANDALAGRO FUT up 6.31%, CHAMBLFERT FUT up 39.47% GNFC FUT up 156.90% and NAGARFERT FUT up 49.94% with rising prices last week.
FertIliser STOCK FUT showing long positions build up in last week trade. We expect positive move in coming week.
NIFTY FUT OBSERVATION
WEEKLY NIFTY FUTURE OBSERVATION
Observation:-
1) NIFTY FUT Total OI up 8.48%, NIFTY FUT up 5.50%, last week.
2) Out of NIFTY 50 Stock FUTS, 40 Stock FUTS closed positive,7 Stock FUTS closed negative and 3 Stock FUTS closed flat last week.
3) OI of NIFTY 3000 CE is down 18.71% showing profit booking. NIFTY 3100 CE OI up 66.64 % with flat prices showing call buying.
NIFTY 3200 CE OI up 66.24% with decreasing prices showing call writing last week.
4) NIFTY 3000 PE OI up 338.57%, NIFTY 3100 PE OI up 1292.13% with decreasing prices showing put writing last week.
Last week I said I see Markets headed towards 3050 and Markets end at 3077.
NIFTY is yet a bit bullish and I expect markets to touch 3100 in this week. If it crosses 3110 then we see NIFTY headed towards 3220 & 3250.
Monday expect a positive to flat opening.
Simple moving averages –
| 5 D | 8 D | 13 D | 20 D | 39 D | 50 D | 200 D |
| 3023 | 2986 | 2884 | 2814 | 2835 | 2953 | 4157 |
Support & Resistance :
Previous Resistance : 2835
Previous Support : 2500
5 Days Highest High : 3107
5 Days Lowest Lows : 2923
Conclusion:-
I expect NIFTY SPOT will show limited up move next week due to expiry. NIFTY SPOT Resistance at 3110,3150 levels. Any up move beyond 3205 levels will attract profit booking. Strong Resistance at 3250 levels. Support at 3030-40, 2965 levels. Expiry possible between 3100-3200 levels.
DLF LIMITED (C-307.90):Weekly Chart Looking Strong. Buy Around 285,Tgt 360+++,Support 260/210
HIND LEVER (C-265.65): Weekly Chart Looking Strong. Buy Around 255-260,Tgt 275++,Support 245/225
INDIAN OIL CORP (424) : Buy On Declines,Support 410/415,Tgt 460/480,Sl 385
SUN TV (166) : Buy On Decline Or At CMP,Tgt 180/190,Sl 150 ( Investors Accumulate Sl 140,Tgt 190/210)
JM FINANCIAL is Speculative Multibagger.CMP 25.Buy From Profits.Year Target is 150+.Investor Stoploss 17
Rocket Stock…. RPG LIFE SCINCES Ltd. At 21.35/-; Target 35/-
Value Buy-GODAWARI POWER-CMP 68 Back Price 135,Target 180++
No comments:
Post a Comment