The Indian market opened on positive note and saw selling pressure at higher levels but managed to close in green zone .For coming session we can see choppy session if nifty trade above 2780 it can test 2809-2827 zones . On the lower side trading below 2745 it can test 2711-2691 levels .Dow nearly completing its 5.3rd and may soon be in 5.4. In such a scenario, looking at our charts and having an alternate count:
At 3147, the 4th wave ended as a simple flat. Subsequent to that we have been having waves with 3 sub waves indicating a possibility of a contracting ending diagonal as a 5th wave.
a. 3147 -2662 ; b. 2662 - 2970; c. 2970 - (2678..????); d. ............up ; e. ........dn to complete the 5th wave. For this to play out, Nifty should hold 2650 levels.
This is just a possibility as our markets are not falling as much as other markets. and some sectors are witnessing reversals such as Cement, select auto counters and so on.
Today, Nifty went upto the Pivot table's R2 @ 2788 and fell.
For tomorrow, if it can find support at 2750, some more bounces can be expected. However, more weakness will be seen below 2750.
Presently, the hourly time frame reached the "OB" region and sold off in the last hour and the daily & weekly trend remains down only.
practically traders doesnot trade on expiry day.......but we r going to trade for gud money..........as shown in graf ,,,mkt will open in red ...and pz read the graf call no 1 given for intraday,,,,,,,,, short reliance on some rise as shown in graf with stoploss given in graf...........this is the intraday calllll.........after that if u got the 1220--1210 spot level of reliance,,,,,,,then take positional buy here with very small stoploss and good gain .......pz read the graf for this positional; call,,
MARKETCALLS’ VIEW ON NIFTY FOR INTRADAY :
Today our market will open Positive. Nifty is having resistance at 2821. If not closing or sustaining above this level safe and small trader can exit. Sell at higher levels.
Market may open up. Market would be volatile . Market may up between 10.27 and 10.52 Market may steady or up side between 12.32 and 12.58. Market may close at down or near to previous closing.
SHARE YOUR THOUGHTS! LEAVE A COMMENTS
Opening Bell Call
Buy
Exit All Long Term Positions
On 25th February 2009 - The BSE Sensex closed at 8902 (up 80 points) while the NSE Nifty closed at 2762 (up 28 points).
Opening Bell Call
Sell
JMFINANCIL - JM Financial Limited
MOSERBAER - Moser-Baer (I) Ltd
SAIL - Steel Authority of India Ltd.
ISPATIND - Ispat Industries Limited
HDIL - Housing Development and Infrastructure Limited
NETWORK18 - Network 18 Fincap Limited
Technical Analysis for 26th February 2009
BSE-SENSEX - Major Resistance - 8926, 8949, 8971, 9006, 9041, 9064, 9086, 9109
BSE-SENSEX - Major Support - 8891, 8856, 8834, 8811, 8776, 8741, 8707, 8672
NSE-NIFTY - Major Resistance - 2761, 2776, 2790, 2804, 2817, 2832, 2846, 2860
NSE-NIFTY - Major Support - 2748, 2734, 2720, 2705, 2692, 2678, 2664, 2650
At 3147, the 4th wave ended as a simple flat. Subsequent to that we have been having waves with 3 sub waves indicating a possibility of a contracting ending diagonal as a 5th wave.
a. 3147 -2662 ; b. 2662 - 2970; c. 2970 - (2678..????); d. ............up ; e. ........dn to complete the 5th wave. For this to play out, Nifty should hold 2650 levels.
This is just a possibility as our markets are not falling as much as other markets. and some sectors are witnessing reversals such as Cement, select auto counters and so on.
Today, Nifty went upto the Pivot table's R2 @ 2788 and fell.
For tomorrow, if it can find support at 2750, some more bounces can be expected. However, more weakness will be seen below 2750.
Presently, the hourly time frame reached the "OB" region and sold off in the last hour and the daily & weekly trend remains down only.
practically traders doesnot trade on expiry day.......but we r going to trade for gud money..........as shown in graf ,,,mkt will open in red ...and pz read the graf call no 1 given for intraday,,,,,,,,, short reliance on some rise as shown in graf with stoploss given in graf...........this is the intraday calllll.........after that if u got the 1220--1210 spot level of reliance,,,,,,,then take positional buy here with very small stoploss and good gain .......pz read the graf for this positional; call,,NIFTY FUTURE
ABOVE 2765 TARGET 2793-2809-2821
BELOW 2754 TARGET 2745-2734-2720-2703
MARKETCALLS’ VIEW ON NIFTY FOR INTRADAY :
Today our market will open Positive. Nifty is having resistance at 2821. If not closing or sustaining above this level safe and small trader can exit. Sell at higher levels.
Market may open up. Market would be volatile . Market may up between 10.27 and 10.52 Market may steady or up side between 12.32 and 12.58. Market may close at down or near to previous closing.
SHARE YOUR THOUGHTS! LEAVE A COMMENTS
Opening Bell Call
Buy
Exit All Long Term Positions
On 25th February 2009 - The BSE Sensex closed at 8902 (up 80 points) while the NSE Nifty closed at 2762 (up 28 points).
Opening Bell Call
Sell
JMFINANCIL - JM Financial Limited
MOSERBAER - Moser-Baer (I) Ltd
SAIL - Steel Authority of India Ltd.
ISPATIND - Ispat Industries Limited
HDIL - Housing Development and Infrastructure Limited
NETWORK18 - Network 18 Fincap Limited
Technical Analysis for 26th February 2009
BSE-SENSEX - Major Resistance - 8926, 8949, 8971, 9006, 9041, 9064, 9086, 9109
BSE-SENSEX - Major Support - 8891, 8856, 8834, 8811, 8776, 8741, 8707, 8672
NSE-NIFTY - Major Resistance - 2761, 2776, 2790, 2804, 2817, 2832, 2846, 2860
NSE-NIFTY - Major Support - 2748, 2734, 2720, 2705, 2692, 2678, 2664, 2650
Sensex Technical View :
Here's a comparison of three auto stocks - From their prices in October 27, Maruti (top) gains 28.7%, Tata Motors (middle) is at the same level while M&M (bottom) gains 26.4%.
Maybe M&M will follow Maruti and breakout too!
Here we see a long squeeze on National Aluminum. The prices appear to be traveling sideways inside the band but actually they are moving up slowly. From its October 27 close, this stock has gained 48% against Nifty's 9.4%. Just watch this stock for some action ahead.
Sensex does a small pullback and fills the first gap around 8978 by making a high of 8995. The view remains the same as yesterday to watch for the 8600 level which if holds we could see a possible pullback to 8978 -9270 levels also.
Any upmove will face major resistance around 9500 in short term. Only a move beyond 10100 would mean a change of trend on upside in short term. Similarly 8500 on closing basis remains a confirmation level for a breakdown.
Stocks to watchout for :
Just a review of some of the views and charts posted in last few days :
ABB and Infosys Charts -- Abb does 380 and is headed lower. Infosys pulls back from 1140-1160 resistance now arnd 1260-1280 difficult to cross.
HDFC Bank and ICICI --- Both the stocks cracked as expected. Could see small pullbacks from 800-830 and 300-310.
Axis Bank and HDFC Ltd Charts --- Axis Banks dips below 375 to touch 355 . HDFC ltd breaks 1350 and touches 1250 and should be booked around 1200-1240 support zone.
Maruti crosses 645 and does an expected move of 20 bucks by hitting a high of 669. Bajaj Auto has crosses 503-505 and is a buy for 525+.
Fresh stock views :
ABB
It was discussed as a short pick some days back below 410 for a tgt of 380-350. The stock pulled back from 365 and tested the breakdown level. Seems its headed down again short below 360-365 for a tgt of 345-330 in short term.
Larsen and Toubro
Stock remains in a downtrend. Short below 605 for a tgt of 570-585 in short term.
Bajaj Auto
Auto stocks have been seeing good buying support in the last few sessions. Technically stock seems to be breaking out of a range buy around 503-505 with a stop of 490 for a tgt of 525+.
Market Observations and Thoughts :
Lot many stocks are seeing promoters increasing the stake - but the question is who is selling on the other side ?. Now there is an unwritten norm in the market where in the promoter group holds an unofficial stake which continues to remain always or gets placed when needed. According to some market-men some of the promoters might be just transferring the shares. Will the added stake be again placed at higher levels to investors, funds, instituitions in better times or is it the promoters are bailing out some stuck investors,funds or re-buying stock placed at higher levels in bull market. In either case insider buying is always positive :)
Here's a comparison of three auto stocks - From their prices in October 27, Maruti (top) gains 28.7%, Tata Motors (middle) is at the same level while M&M (bottom) gains 26.4%.
Maybe M&M will follow Maruti and breakout too!
Here we see a long squeeze on National Aluminum. The prices appear to be traveling sideways inside the band but actually they are moving up slowly. From its October 27 close, this stock has gained 48% against Nifty's 9.4%. Just watch this stock for some action ahead.
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