This up move is last up move, as soon as Nifty breaks the level of 2680 and market will go in the bearish zone. Our target Nifty 1309 & Sensex 4590 are still now intact up, so please do not keep holding long position otherwise in future heavy loss can be happened. Very soon market is going to be in the bearish zone.
Nifty :: An bullish candle with breakout of triangle.. As we say from last too many post for more up swing thrust required to close above 2860.Exactly touch 2861 on 8th Dec and again move down .. Now for 10th Dec. Watch two strong support 2727 & 2690 & Watch Strong resistance zone in between 2860 to 2900.. As far as stay above 2690 momentum is up.. Our strategy buy on deep (S.L 2690) Sell at high. Give long commitment only close above 2860/2890.. Till then momentum is in side way avoid buying at higher level.. Resistance for up move at 2860/2872/2890/2900.. Supports at 2738/2727/2690/2619..
intraday free call--sell nifty on rise as shown in graf for tgt 2600-2620-2650 spot to make the one day century...........IMP NOTICE--THOSE WHOR STUK IN POSITIONAL SHORT CALL NEAR 2670-2690 SPOT LEVEL ,, SHOULD TAKE EXIT TODAY IN PROFIT ONLY NEAR OUR TGT 2620........ TO MAKE HALF CENTURY....NIFTY FUTURE
-Always Remember, put SL in your every trade.
Europe ended a higher note.
Asia has opened marginally higher. I expect Indian markets to open flat to negative.
The support for the Sensex is 8915 and the resistance to the up move is at 9320-9478-9630.
Nifty: (2784) the support for the Nifty is at 2700 and the resistance to the up move is at 2860-3113.
Day Trading ideas for 10th Dec.
DLF
Buy above 217 for targets of 223 and 227.
Sell below 207 for targets of 202 and 198.
RNRL
Buy above 42.30 for targets of 43.60 and 45.30
Sell below 40.60 for targets of 39.30 and 37.60
Crain India
Buy above 142.20 for targets of 147.40 and 152.20
Sell below 137.40 for targets of 132.50 and 129.60
Unitech
Buy above 33.10 for targets of 34.40 and 36.50
Sell below 31.50 for targets of29.40 and 28.25
Nifty (2784) Sup 2725 Res 2850
Buy Wipro (238) SL 233 Target 248, 250
Buy Tata Steel (196) SL 192 Target 204, 206
Buy BHEL (1362) SL 1340 Target 1402, 1412
Sell IVRCL (135) SL 138 Target 129, 127
US markets fell down after it rallied for 2 days.
Europe ended a higher note.
Asia has opened marginally higher. I expect Indian markets to open flat to negative.
The support for the Sensex is 8915 and the resistance to the up move is at 9320-9478-9630.
Nifty: (2784) the support for the Nifty is at 2700 and the resistance to the up move is at 2860-3113.
Day Trading ideas for 10th Dec.
DLF
Buy above 217 for targets of 223 and 227.
Sell below 207 for targets of 202 and 198.
RNRL
Buy above 42.30 for targets of 43.60 and 45.30
Sell below 40.60 for targets of 39.30 and 37.60
Crain India
Buy above 142.20 for targets of 147.40 and 152.20
Sell below 137.40 for targets of 132.50 and 129.60
Unitech
Buy above 33.10 for targets of 34.40 and 36.50
Sell below 31.50 for targets of29.40 and 28.25
Sell Nifty futures Target: 2750, 2710 SL: 2790
Sell HDFCBANK Target: 877,868 SL: 890
Sell RELIANCE Target: 1095, 1082 SL: 1116
Buy Nifty futures Target: 2755, 2780 SL: 2720
It was disgusting like I have said so many times before the way our markets were behaving – but why should I get disgusting – this was exactly how the markets were behaving in the so called secular bull run. There were no fundamentals supporting the kind of run up that was there and the stocks just refused to slow down or pause on their run up. If that was so then why should the markets listen to us on their way down – they should now not listen to any good news coming their way and continue their fall. So far so good. But then there should have been a breather and it is that overdue breather from the fall that we were really looking forward too. That has come so like I have been saying for so many days – it is just to sit back and watch if you were not already long and wait for the wonderful time to short – nothing really can substitute for patience at all. See going by the pure physical data for the last four-five months I have come to a conclusion that the market has moved in a range – depending upon a month anywhere from 500 points to 1000 points. Take a pick at two such points – technically speaking – and we see that we went long in one case with a single CA/PA – and suppose the point was not the bottom – and we paid a premium of 100 odd points for a fairly close CA/PA – then by the end of the month we had at the most lost the premium paid or if we were lucky would have made 20 K in 500 point rally and max about 45 k in a thousand point rally. (Please do take the trouble of defining the rally >> index going up and the rally >> index going down) Now don’t be impressed by such mathematics and good looking calculations. The fact is that I did not made any money – or let me put it this way I did not make as much money. But why? because I lack a control over myself, I am fickle minded, I let my losses run till I am out of money and would have cut the profits when the market was just making the move. Uh!! Only this? well not really – I am afraid at one moment and greedy like a dog at the other moment. Then why the hell cannot I remain away from all this. Because I feel that I can win/I feel I can make a lots of money/I love gambling/I made money last year. WoW – that are all looser scripts. What is missing in them? The definite will to win/a plan to make it happen. What is planning? having a good charting software? Planning that I will make money? Putting in hard work? What kind of hard work? I do not lack a single bit on all of the above accounts – but still I did not win – I made small money okay – but I did not win.
Now here I come to the next part – We are here as an online community to learn and teach. And if that makes anyone of us win and take home a killing – it would be the greatest gift of my life – mind you I am talking about anyone taking home profits and not me! I will do it eventually and I have decided upon it a long time back. I have a score to settle with these DIs, FIIs or whosoever took my money for past one year. I had decided that eventually I will graduate on to giving calls – I mean buy – sell. but in the past eight odd months of blogging I am still some time away to do that. There will be a time – till then bear with me.
I nave now two days worth of story to tell you. The Global cues…. well the Asia was good the first day over. Nikkei had ended 5.2% up, Hang Seng was up a good 8.66% up. Strait Times was closed. Europe decided to outdo Asia and was up 6-8%. FTSE up 6.19%, Dax 7.63% up and CAC up 8.68%. US also closed well in green inspite of the Tribune Co filing for bankruptcy. The second day continued its good run up with Europe starting the day red and climbing and closing green. FTSE was up 1.89%, Dax up 1.34% and CAC up 1.55%. US then could not sustain this everyday rally up. Finally yesterday the Dow lost 242 points to close 2.72% red, Nasdaq down 1.55% and S&P down 2.31%. In Asia today only Nikkei has opened and it opened mildly red and climbed half a percent up in green. It is too early to say where it will go.
The candle yesterday – though white was not particularly good. I would have personally preferred that it closes above 2800 or 2840 – but that was not to be and it traded well above 2800 – touched just above the R2 and then closed just below the R1 level. It was some how to be expected. There is still no faith that this run-up will last too long and there was a holiday – it could have jittered anyone. So sell off did take place but it negated the black candle of day before. The candle had a large lower body and an upper wick. As a candle however does not give a bad indication. The Bollinger bands have contracted a bit more. Red 5 EMA line is a bit closer to the 20 EMA but the crossover that I expected is still eluding us. Volumes were bit less than a day before. MACD divergence has increased a bit more and red line is comfortably above the blue line. RSI is good and bullish, it is the StochRSI that is entering the overbought zone so may be a cause of little worry. Slow Stochastic red line is comfortably above the blue line. TRIX is still facing up and looks good as ever. So seeing all this – ideally the ball should continue rolling up.
Okay – the Pivot data for the day…
Pivot data…
R3 23008 against 2941 monday
R2 2933
R1 2858
Pivot 2786 against 2745 monday
S1 2711
S2 2639
S3 2564 against 2549 monday
Projected High Range 2822 to 2896
Projected Low Range 2826 to 2752
Fib Projected High 2900
Fib Projected Low 2674
have you noticed the Pivot data – the upper R3 has moved up to above 3000 mark. Hope we touch it just for happiness sake.
In the last few weeks Sensex has not moved much apart from the intra-day volatility. Technically the scenario remains the same about a clear breakout above 9300-9500 happens on closing basis. The bias remains positive in short term and would give a higher probability to a pullback to 9900-10400 zone more compared to the possibility of 8500-8300.
But further trades would be based only on a confirmation of breakout or current trades would be with extreme short term say intra-day or 2-3 sessions.
Global technicals and observation :
refer to charts shown in the post below.
Dow Jones :
Inverted head and shoulders pattern suggests a good move and could tgt 9300-9400 in short term if able to sustain above 8800 for a few sessions.
Hang Seng :
A clean triangle breakout with a good surge. The index is very close to 15300 odd levels it reached in the pullback after Oct lows. It has moved frm 11800 to 14800 + in near term which is a sharp move. The tgts are around 15400-15900 and to an outer extent 17k also.
FTSE :
Showing mild bullish signs but if able to stay above 4250 for few days can then tgt 450--4700 in short term .
So all the global charts look ready or close to a breakout but we need to see confirmation in this week. So lets wait and watch whether we see a good move around the world and whether Sensex does take a cue from it .
Statistically Sensex has been an underperformer to many other indices seeing the moves in near term.
Stocks to watchout for :
Stocks to trade in momentum
RCAP above 476
ITC above 176
Hindalco above 53.5
RIL above 1190
SAIL above 72.5
Buy above the levels with a stop of 3-4 % and tgt of 8-12 % in short term.
ok, here is NTPC again with its 200 dma. C'mon baby, break it!
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