3 charts for nifty dec series.
Invhns type of move forming for bulls
for bears maybe a triangle and they'll keep trying to short on the way up finding every level/resistance as an excuse.
My view? 3260+ likely
HSI did it
dow almost doing it.
And guess which stock is leading the rally in nifty??
REL...
much closer to old high 626 cmp 606 ish.
Power sector remains my favorite sector, fundamental reasons.
So for anyone who says technicals precede fundamentals. Think again.
Rel was damn 'weak' at 360-400 (relative to nifty)
now its 'strong'.
I need to find some kind of economic calendar for India so I can be prepared ahead of time for the major data releases.
If anyone has an idea, leave a link.
For the u.s there are lots of sites with good coverage.
Need something similar for India.
I wonder why cnbc tv 18/moneycontrol don't have any organized section
they added the indiaearnings site which is a good step. They should also add something along the lines of an economic calendar.
ATLAST MKT SHOWN SOME STRENGTH THNX TO FIIS BUYING AND HUGE SHORT COVERING AS FINANCIAL YEAR ENDING FOR FIIS, BUT NOW TODAY BE CAREFULL AT HIGHER LEVEL, AS PROFIT BOOKING IS NOT RULED OUT.
RECOMMENDATIONS (POSITIONAL):
NIFTY BUY ABOVE 3050 SL 3005 TGT 3080-3120-3180-3230.
GLENMARK PHARMA BUY ABOVE 260 SL 250 TGT 275-285-295.
ING VYSYA BANK BUY ABOVE 155 SL 145 TGT 165-168-172.
LICHSGFN BUY ABOVE 231 SL 226 TGT 236-239-242.
GMRINFRA BUY ABOVE 63 SL 59 TGT 67-69-70.
TISCO SELL BELOW 233 SL 240 TGT 215-205-195.
WIPRO SELL BELOW 275 SL 290 TGT 255-245-235.
SATYAM SELL BELOW 250 SL 260 TGT 232-225-220.
RELCAP SELL BELOW 457 SL 468 TGT 445-438-433.
Stock strategy
company name:-DLF limited
Stock has seen a good up move and is now poised near its 20 dma. AT 272
Let the stock move up and short the reversal from the 20dma whenever it happens.Sl will be of 2% and target 260-251 in the same.
Do note that the 20dma is dynamic in nature and one has to keep note of the values for the trade.
sgx nifty at 2959crude oil at 46.27
Nifty :: Break out of triangle give more thrust in yesterday trade. Made body gap up belt hold line bull candle.. As we say from 2500 bottom momentum still up but we are in corrective up swing move and that’s why use titan S.L in our bottom fishing buy.. Now our long S.L at 2700.. OR if Nifty face strong resistance near 2961/2978 then sell it and buy again in deep (Close above 2978 given more thrust for up swing in coming days).. In one level above 2931 momentum seems up. Below 2931 momentum down.. Still our strategy same as yesterday up to 2861 buy on deep (S.L 2786) sell at high.. Resistance for up move at 2961/2978/2997/3058/3095.. Supports 2900/2856/2800/2786/2700..
Hello friends, after this long break, i m gonna update my blog daily now on with the imp nifty levels.
Nifty has given a vertical upmove, and its difficult to take a positional view till a dip comes.
resistence now at 3028-3047.further for intraday support exists at 2915-2887.
i would strictly advise traders to keep their trades to intraday only, and yes, positional shorts is not really option right now, so please avoid it.
Nifty has tentatively broken, what was a crucial level at 2860, and this level should now act as a
support, as long as NIFTY does notcloses below it tomorrow. The next big resistance is 3160 (between 3142-3160 to be exact), and before that there are minor resistances at 2951 and 3024. I expect some decent resistance at 3142-3160 region.. Another big support close by is 2832 which should act as a strong base as well..
The Indian market opened on gap-up and close with higher gain. On daily chart nifty had given breakout and close above 2840 levels .For coming session we can test 2975-3050 levels on the lower side 2840 will act support zone .Nifty can witness profit booking near 2975-2980 zone .
intraday call for nifty.............whereever nifty opens wait till it touches 2970 spot level,, there u sell it with 2980 spot as stop loss....for tgt of 2860 for intra day only.......NOW THOSE WHO R HAVING POSITIONAL SHORT CAN HOLD THEIR SHORTS WITH 2980 SPOT AS EXIT STOP LOSS FOR MINI TGT 2620 IN COMING DAYS..... THX FOR CO-OPERATING IN THESE FEW PANIK DAYS....LETS HAVE PATIONS....BULLS DOESNOT OVERCOME BEAR YET............SO KEEP THE STOPLOSS N RELAX............THX........THOSE WHO R STUK IN 2500 PUTS,, CAN BUY FRESH PUT OF 2800 NEAR 2970 LEVEL BOLDLY....- Nifty future Chart
Buy PUNJLLOYD above 159 SL 155 Target 166-172-182
Buy SBI above 1198 SL 1188 Target 1210-1223
Buy SUZLON above 51 SL 46 Target 55-60
Buy HINDALCO above 54 SL 52.80 Target 56-58-60
Sell POWERGRID below 75 SL 78 Target 72-70
Sell ROLTA below 129 SL 132 Target 125-123
1. Analysis Indian share Market: Now large cap stocks will show action and Sensex will have difficulty climbing the 10000 mark, however it appears that it will touch 10000 mark as world stock markets are also on upswing.. Watch Sensex support at 9450 and Nifty support at 2860. Nifty has to move above the level of 3115 to keep moving ahead. Markets will move up by virtue of volatility reduction in the market. One should day trade with stop loss.
2. Future and Options Tip: As a future and option strategy one canh old Nifty futures with stop loss below 2860 with a target of 3000.
3. RBI action: One can see further rate cuts by RBI to infuse liquidity and one can even see Repo rate fall to 4.5% and CRR to 3.5% by mid-2009. This fiscal stimulus will help to add about 0.5% to the GDP growth in FY10.
4. Sectors to Watch
(a) Banks
(b) Oil&gas
(c) Capital goods.
5. Profit from Intraday share tips provided by analyst: SBI gave profit of Rs 2300, Cairn gave gains of Rs 950, NTPC gave returns of Rs 445, Tata steel gave profit of Rs 2600 and ABB gave gains of Rs 1680 for ever 100 shares traded as per the given recommendation.
6. National stock exchange strong future tips
NDTV
Nagar Const
Tisco
IDFC
DLF
Jindal Steel
Ambuja Cement
Escort
LITL
LIC.
7. Bombay stock exchange weak stocks reflected by weak Futures data
Jindal Saw
Great Offshore
BRFL
Havells
Tulip
Ansal Infra
Rolta
Purva
Redington
Bhushan Steel
8. Result oriented hot stock tips producing 100% profit:
Buy GMR Infra>64.5,65.5,68 sl 62.5
Buy Gateway Distripak > 75.5,78,81 sl 73.8
Buy Gitanjali Gems > 72.1,73,75.6 sl 69.8
Buy NTPC > 170.1,171.35,174 sl 168.5
Buy Bank of India>250.5,252,253.1,256 sl 248.8
Buy Cairn > 150.5,152.4,153.6,157 sl 148.5
Before I start with writing the blog – I would like to tell you that this is my 150th post on this blog – meaningful or not – there were so many times when I though that this is a waste of time to share my experiences as they do not matter – but then I am typing my a hundred fiftieth post and somehow that makes be proud in some sense. I have survived so for so long. Hope I continue getting moral help to continue with same vigour.
So the past few days did turn out to be good – mind you that barring small breaks in-between this sun up should still continue – at the most touching a small low of 2800/2900 at the most. There is an environment that wants this bear market behind us. Tough at the end of the day the bears will still play havoc – but like they say – make hay while sun shines. Infact this is not happening only on the our national scale – this is on the global scale – month after month – week after week – bad bad bad and then a relief. Ideally this was expected some time back but it has come now –at a time when other small but significant news and events are with this rally. Out govt along with many others are taking steps to sort out the issue. Oil is touching its all time low. Elections and expected dynamism of Obama, all countries in some way or other doing what can be done to contain the damage. Mind you all this will take its time to show up in the markets and the economy in general. If we do classify this as one of the worst recessions in the history then the bad news is yet to actually come in. The real estate has been a mute spectator standing on the sidelines and standing stout – hardly rolling back the prices, the uncertainty of the job cuts will next figure up when there is a significant reduction in salaries of those who are not shifted to the unemployed line – under threat perhaps to be the next to be sorted out. That fear of job cuts and salary cuts will force the people save for the uncertain future – the spending will further fall – and that will snowball into further deepening recession. Ah! worry not that is still some time away – but do not forget that all rises will be sold into and ultimately we will touch lower than before levels.
The Global cues continue to be good at the moment. Asia closed – Nikkei up 3.15%, HangSeng up 5.59% and Strait Times up 3.83%. Europe is the first one to doubt and seems that it has not been able to digest this run up – Europe remain confused. FTSE was in red 0.32%, DAX up 0.54% and Cac up 0.68%. All the doubts created by Europe will be put to rest if we see US closing well in green – that seems like a possibility so far. At the moment the US after opening in green has crossed the mid session remaining in green by about a percentage point. It is now that it seems to show some doubts of continuing in green. The Indexes are looking like going down - will just have to wait and see where we go by the end of their session.
On the Charts the candle was good and white and confidently crossed the middle of the Bollinger band. Remember last time the candles turned back from the middle of the bands. This time it seems as the candles have the capacity to touch the upper band. The upper band is at a few points above 3000 and be careful if we reach that level. I do not see the candles being violated on the upper side. The 5 EMA has crossed over comfortably the 20 EMA line and many would actually see this as a point to enter market – in longs. Some guts they have though technically they are right. The volumes were higher than the recent past few days. MACD divergence has increased with the Red line increasing the distance between the red and blue line. RSI is GOOOOOOOD and so is Slow Stochastic. TRIX is looking up like staring the stars.
So expect for a small breather the upswing should ideally continue.
Pivot data…
R3 3095 against 3008 yesterday
R2 3039
R1 2983
Pivot 2884 against 2786 yesterday
S1 2828
S2 2729
S3 2673 against 2564 yesterday
Projected High Range 2934 to 3011
Projected Low Range 2868 to 2791
Fib Projected High 2982
Fib Projected Low 2742
Okay I will look out for two very important levels where reversal to what ever is the starting trend should be the turn about point. If the market opens green then the level I will watch out for is 3039 and if it opens in red then I will look out whether the level – 2828 holds.
data to be published in usa this week
Sensex Technical View :
Finally Sensex saw a move beyond 9300 and a good positive close. The next levels to watch is 9900-10400 on upside. Only a sustained closing above 10500 would open up further chances of an extended rally to 11650-12500 which is far-fetched as of now. Continue to trade on long side with trailing stops and partial booking of profits in stock specific gains.
Stocks to watchout for :
Essar Oil , RPL look ripe for a sharp bounce in short term if continues to close above 78 levels. RNRL above 45 too could give a bounce.
Reliance Inds has given a breakout above 1190 and could tgt 1250/1320/1360 zones also in short term. Stop of 1150 on closing basis. ( as mentioned above 1190 is a buy it did 1230 today )
Hindalco needs to sustain 53.5-54 levels to give a sharp move to 59 +. Stop is 51.
SAIL gave a quick move to 80 above 72.5 and completed 10 % tgt . Reliance moved too. Hindalco on verge of breakout. ITC above 176 and RCAP above 476 could give quick moves too.
Breakout!
Finally, we've come out of the torture chamber and closed above 29 after a billion years! The chart below, shows the larger picture, and the maximum we can hit is around 3250; the January trendline resistance. NTPC was unable to cross its 200 dma and maybe we have to wait for some time untill that happens.
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