Another day of Blow off. After Gap down opening the markets traded in very narrow range, Nifty on higher side was 2800 & lower side 2760. Some moves were seen in last hours of trade.
In last fall when Nifty went below 2700 levels it made low of of 2658 & at that time our magical level was 2666 this time when Nifty is trading below 2800 we have magical level of 2777. Today we have updated by sms too that we need to close around this level as this is last hope for the bulls.
Nifty too have good trendline support in range of 2750-2775, 2day whole day Nifty managed to hang around these levels. If we close below this levels for atleast 2 to 3 days then we can big fall in markets as we are updating these scenarios since last many days. But if it holds on then bulls will try to have upper hands.
NifTiee INTRA DAY LEVELS Close : 2771
Supports : 2750 / 2725 / 2690
Resistances : 2790 / 2810 / 2825
The Indian market opened on lower note tracking weak global cues and end with red zones .For coming session we can see bounces near 2740 -2690 zone On hourly market are in over sold zone and near tem support area upside 2830-2870 will act as resistance zone .
After a long time the much awaited Bearish 20 EMA and 5 EMA crossover happened once again in Nifty.Which indicates that markets will be completely in a bearish mood atleast for a week. So any rise in a short term should be used as an oppurtunity to short this market.
20 EMA : 2851
5 EMA : 2850
Rules
If 20EMA>5 EMA ( Sentiment : Bullish)
If 20EMA<5>
Sensex Chart with Twiggs Money Flow Indicator
Few Negative Factors
1)Twiggs Money indicator for sensex is at resistance
2)India Index ratio(Nifty/Shangai Composite) declines to 1.21 which shows that our index performance is getting weaker when compared to chinese index
3)10 day SMA of TRIN is in rising mode but still not crossed above 1. Crossing above 1 will be bearish once again
4)Daily RSI is near 10 and declining shows selling in action even at oversold levels
5)Bollinger Band Supports for Weekly charts comes near 2550 levels. In short term market are focused towards 2550 levels.
Few Positive Factors
1)Bollinger Band Supports comes near 2630-2670 levels from Daily Charts. Market could take supports on closing basis on near term
After a long time the much awaited Bearish 20 EMA and 5 EMA crossover happened once again in Nifty.Which indicates that markets will be completely in a bearish mood atleast for a week. So any rise in a short term should be used as an oppurtunity to short this market.
20 EMA : 2851
5 EMA : 2850
Rules
If 20EMA>5 EMA ( Sentiment : Bullish)
If 20EMA<5>
Sensex Chart with Twiggs Money Flow Indicator
Few Negative Factors
1)Twiggs Money indicator for sensex is at resistance
2)India Index ratio(Nifty/Shangai Composite) declines to 1.21 which shows that our index performance is getting weaker when compared to chinese index
3)10 day SMA of TRIN is in rising mode but still not crossed above 1. Crossing above 1 will be bearish once again
4)Daily RSI is near 10 and declining shows selling in action even at oversold levels
5)Bollinger Band Supports for Weekly charts comes near 2550 levels. In short term market are focused towards 2550 levels.
Few Positive Factors
1)Bollinger Band Supports comes near 2630-2670 levels from Daily Charts. Market could take supports on closing basis on near term
Nifty confirms for the 2nd time the resumption of downtrend by breaking the channel(On Mon, it was the faster retracement of the last rise).
I have labeled the fall as 1st wave and a bounce to 2nd wave if +ve or flat world mkts. On the contrary, if the cues are negative, treat the last hour fall & rise as a running 2nd wave correction & we may fall bigtime as the "iii"rd of this wave down. The b-d line of the 4th wave triangle is positioned at 2725. A gap down below that will confirm the "iii".
Daily trend is down & midway. Though the hourly is over sold, Nifty can keep sliding down cos of the daily's downtrend. Only when the daily is highly "OS", look out for +ve div in Hourly charts.
5th waves are called speculatives as fundamentals do not support the fall. However, the fall will continue irrespective of the compelling valuations. Wait patiently for the down move to get stretched or tired or oversold or developing +ve div. In the meantime, prepare a list of the stocks you would like to buy...some high beta, some in favoured sectors(Power, infra), some in the lead sectors(Auto, Cement) and some in cyclical commodities(Oil, Metals,etc).
How this 5th will play out...as swift & ferociously, ending diagonal or a triangle..Few more days of price action should unravel that.
This week's close will confirm the weekly turning down. Use any minor rallies to sell. And get rich slowly.
Gold Cmp 967.45 $ is looking good. In Daily Chart Gold has formed an "Inverted Head & Shoulder Formation " which suggests Gold to continue its uptrend. The immediate resistance is 988.40 $. On breaching this level expect a target of 1028$ -1054 $. On downside Gold has support 952$-921$-909$. Few days in my last post had indicated that Gold will be weak till 899$ and upon breaching it the Gold will confirm the Uptrend & make "Higher Tops & Higher Bottom" on Weekly Chart.
I have labeled the fall as 1st wave and a bounce to 2nd wave if +ve or flat world mkts. On the contrary, if the cues are negative, treat the last hour fall & rise as a running 2nd wave correction & we may fall bigtime as the "iii"rd of this wave down. The b-d line of the 4th wave triangle is positioned at 2725. A gap down below that will confirm the "iii".
Daily trend is down & midway. Though the hourly is over sold, Nifty can keep sliding down cos of the daily's downtrend. Only when the daily is highly "OS", look out for +ve div in Hourly charts.
5th waves are called speculatives as fundamentals do not support the fall. However, the fall will continue irrespective of the compelling valuations. Wait patiently for the down move to get stretched or tired or oversold or developing +ve div. In the meantime, prepare a list of the stocks you would like to buy...some high beta, some in favoured sectors(Power, infra), some in the lead sectors(Auto, Cement) and some in cyclical commodities(Oil, Metals,etc).
How this 5th will play out...as swift & ferociously, ending diagonal or a triangle..Few more days of price action should unravel that.
This week's close will confirm the weekly turning down. Use any minor rallies to sell. And get rich slowly.
Nifty :: Try to hold strong upward channel support in today’s trade.. Near to last and final support 2725/2672/2661.. Watch this three level for 18th Feb.. Now in short term Nifty enter in oversold zone and that’s why avoid shorting near support..Short advise only at higher level or at resistance.. In one level below 2756 momentum seems down above 2756 momentum up.. Our strategy for 18th Feb below 2725 sell at high (S.L 2781) buy on deep Or if open gap down near support buy on deep (S.L 2725/2661) sell at high. Resistance for up move at 2781/2840/2850/2900/2961.. Supports at 2740/2725/2672/ 2661/2540..
For a long time to come – would be the right answer I guess. The real sucker’s rally the past few days to this fall turned out to be. Frankly I read this rally wrong by exactly two days. Ofcourse had I been reading it right then I would be just making money and not getting kicks by writing about the markets. There is nothing at all to talk about. I heard a commentator say there there is no negative stimulus for the markets to seek lower levels. Really wish he had seen the US markets in the present state.
The global cues are nothing to talk home about. Asia’s fall pales in comparison with what the US is undergoing at present. Nikkei ended a descent 1.35% down, Hang Seng 3.79% and Strait Times down 2.55%. Europe opened red as expected but kept a steady trend downwards with help of US futures data to close very near to their lowest levels. FTSE was down 2.43%, DAX down 3.44% and CAC down 2.94%. US opened red and almost immediately dropped lower – now just past its mid session – trading – Dow down 3.61%, Nasdaq down 4.08% and S&P down 4.28%. I really wonder where the US will close and how the markets here would open. Red seems to be the favourite colour. The S&P is below 800.
Let us see how the markets traded during the day. They opened below the S1 levels and then continued to fall with the markets briefly breaching the S2 levels but then stabilising and closing above the S2 levels.
The pivot levels for 18th is as given below: -
R3 2951 as against 3067 yesterday
R2 2890
R1 2830
Pivot 2793 as against 2888 yesterday
S1 2733
S2 2696
S3 2636 as against 2693 yesterday
Projected High Range 2812 to 2860
Projected Low Range 2847 to 2799
Fib Projected High 2880
Fib Projected Low 2730
Gold Cmp 967.45 $ is looking good. In Daily Chart Gold has formed an "Inverted Head & Shoulder Formation " which suggests Gold to continue its uptrend. The immediate resistance is 988.40 $. On breaching this level expect a target of 1028$ -1054 $. On downside Gold has support 952$-921$-909$. Few days in my last post had indicated that Gold will be weak till 899$ and upon breaching it the Gold will confirm the Uptrend & make "Higher Tops & Higher Bottom" on Weekly Chart.
Investor community across the world lost hope on the positive impact of stimulus packages. They are now more concerned about the rising fiscal deficit and huge debt levels of the people. Investors are also concerned about the lack of the coordinated action among the major economies and also about the “protectionist measures” which will further constrict the global trade as it happened in 1970s. Ongoing investigation on the books of US Banks is expected to reveal shocking facts about weaknesses in the books.
Image courtesy: Bloomberg.
NASDAQ crashed to below 1500 levels while S&P fell to below 800 levels while Dow Jones is trading in the 7,600 zone. Consumers across the world tightened their spending which is propelling economies into deflationary zone. It is difficult to create new jobs or prevent job losses in the deflationary environment. People across the world are now struck in a “psychological fear grip”. This is a huge challenge for world leaders. We may test “October lows” if coordinated drastic measures were not taken immediately.
Image Courtesy: BBC.
World is now sitting on huge debt which is more than the global combined GDP. Indian Government failed miserably to take stern visionary steps in this crisis period. This is the time for UPA Government to sell stakes in PSUs (irrespective of politics) and spend the money aggressively on infrastructure. We are now left with just 1 week to announce drastic measures before election code of conduct come into play. Frankly options are limited for Indian Government – that is really bad news for share market investors. It is not a surprising news that investors are withdrawing funds from India-focused equity funds while China and Korea focused funds are seeing 300% increase in in-flows.
Stock market Rumor:
1. Satyam is expected to lose the crucial contract of Merrill Lynch to TCS.
Stock Market news:
1. Many equity analysts recently downgraded stocks like Reliance Industries and GMR Infra. But few analysts are still bullish on RIL but all are bearish on GMR Infra.
2. Government at last removed the boards of Maytas Infra and Maytas properties.
3. Auction for 3G licenses is expected to be held by March end but collection estimates are drastically reduced. Government is now paying price for delay.
Good demand: Kotak Securities demanded the management of Reliance Industries (RIL) for more disclosures regarding their debt and cash position. CLSA also questioned the accounting practices of RIL regarding foreign exchange policy.
Economic statistics:
1. Foreign investors are withdrawing funds from India-focused equity funds while China and Korea focused funds are seeing 300% increase in in-flows.
2. Gold is continuing its bull run and touched Rs 15,200 per 10 gram. Stocks are at 3-month lows but Gold is now at 7-month high.
3. Every Indian will have debt of Rs 30,000 by March, 2010.
Pledged shares:
1. Essar Shipping promoters pledged 15% stake of the company while EID Parry pledged 9% stake of the company.
2. GMR Industries promoters pledged 25% stake of the company. Promoters pledged 13% stake in GMR Infra.
3. Promoters of Nippo batteries pledged 20% of company stake.
4. Ashok Leyland promoters pledged 18% stake of the company while Bilcare promoters pledged 17% stake.
5. Promoters of Bombay Dyeing pledged 13% stake of the company.
Till now, 410 Indian company promoters pledged shares with lenders. If more stake holders will reveal their pledged shares information, we may get unbelievable figures.
Recession news:
1. Casino: Trump Entertainment filed for bankruptcy. Ongoing banking books investigation will reveal more startling facts.
2. USA: Cricket promoter and Chairman of Stanford Financial Group, Allen Stanford, was charged with Rs 40,000 crore fraud. He is famous as Twenty20 cricket sponsor for cricket lovers.
3. Europe: Eastern European banks will see more downgrades from rating agencies.
4. Hong Kong: Bank of East Asia reported 97.5% fall in net profit. Wait for more bad news. First loss for BoE in 40 years.
5. UK: Inflation crashed to 1960 levels – deflation will trigger further job losses – when will this cycle end?
Thanks to Blog subscribers:
This blog achieved another milestone. Stock Market guide feed finally crossed 2,000 subscribers mark. I will continue to work hard and try to reach readers expectations by posting useful content. It is a happy journey from zero subscribers to 2,000 subscribers. I learnt a lot about stock markets during this journey.
Time pass: What an Idea!
How to solve Indian economic crisis?
I am proposing a simple but an interesting idea to solve current economic crisis. Indians have Rs 72,80,000 crore money in Swiss banks (2006 report). Indian government should collect that money and pay all the foreign debt and use the remaining money to spend on stimulus package. Government can afford to cut tax rates to increase consumption power of people. What an Idea!
Swiss Banks Organization proposed to give the details of Indians who have accounts in Liechtenstein bank. But Indian Government (unsurprisingly) had not responded to their request.
Read this excellent article on Indians and Swiss banks. Click here to open a Swiss bank account to save your millions.
Good articles:
1. Can we invest in cash rich technology companies?
2. What is happening across the world?
Interesting stats on Great Depression:
1. Dow Jones took 20 years to reach the pre-depression peaks after Great Depression. Dow Jones was at 380 in 1929. It crossed 380 levels only in 1956. Second World War also delayed the Dow Jones recovery. So, USA is really in big trouble. But India has huge opportunities but we missed great leaders.
NASDAQ crashed to below 1500 levels while S&P fell to below 800 levels while Dow Jones is trading in the 7,600 zone. Consumers across the world tightened their spending which is propelling economies into deflationary zone. It is difficult to create new jobs or prevent job losses in the deflationary environment. People across the world are now struck in a “psychological fear grip”. This is a huge challenge for world leaders. We may test “October lows” if coordinated drastic measures were not taken immediately.
World is now sitting on huge debt which is more than the global combined GDP. Indian Government failed miserably to take stern visionary steps in this crisis period. This is the time for UPA Government to sell stakes in PSUs (irrespective of politics) and spend the money aggressively on infrastructure. We are now left with just 1 week to announce drastic measures before election code of conduct come into play. Frankly options are limited for Indian Government – that is really bad news for share market investors. It is not a surprising news that investors are withdrawing funds from India-focused equity funds while China and Korea focused funds are seeing 300% increase in in-flows.
Stock market Rumor:
1. Satyam is expected to lose the crucial contract of Merrill Lynch to TCS.
Stock Market news:
1. Many equity analysts recently downgraded stocks like Reliance Industries and GMR Infra. But few analysts are still bullish on RIL but all are bearish on GMR Infra.
2. Government at last removed the boards of Maytas Infra and Maytas properties.
3. Auction for 3G licenses is expected to be held by March end but collection estimates are drastically reduced. Government is now paying price for delay.
Good demand: Kotak Securities demanded the management of Reliance Industries (RIL) for more disclosures regarding their debt and cash position. CLSA also questioned the accounting practices of RIL regarding foreign exchange policy.
Economic statistics:
1. Foreign investors are withdrawing funds from India-focused equity funds while China and Korea focused funds are seeing 300% increase in in-flows.
2. Gold is continuing its bull run and touched Rs 15,200 per 10 gram. Stocks are at 3-month lows but Gold is now at 7-month high.
3. Every Indian will have debt of Rs 30,000 by March, 2010.
Pledged shares:
1. Essar Shipping promoters pledged 15% stake of the company while EID Parry pledged 9% stake of the company.
2. GMR Industries promoters pledged 25% stake of the company. Promoters pledged 13% stake in GMR Infra.
3. Promoters of Nippo batteries pledged 20% of company stake.
4. Ashok Leyland promoters pledged 18% stake of the company while Bilcare promoters pledged 17% stake.
5. Promoters of Bombay Dyeing pledged 13% stake of the company.
Till now, 410 Indian company promoters pledged shares with lenders. If more stake holders will reveal their pledged shares information, we may get unbelievable figures.
Recession news:
1. Casino: Trump Entertainment filed for bankruptcy. Ongoing banking books investigation will reveal more startling facts.
2. USA: Cricket promoter and Chairman of Stanford Financial Group, Allen Stanford, was charged with Rs 40,000 crore fraud. He is famous as Twenty20 cricket sponsor for cricket lovers.
3. Europe: Eastern European banks will see more downgrades from rating agencies.
4. Hong Kong: Bank of East Asia reported 97.5% fall in net profit. Wait for more bad news. First loss for BoE in 40 years.
5. UK: Inflation crashed to 1960 levels – deflation will trigger further job losses – when will this cycle end?
This blog achieved another milestone. Stock Market guide feed finally crossed 2,000 subscribers mark. I will continue to work hard and try to reach readers expectations by posting useful content. It is a happy journey from zero subscribers to 2,000 subscribers. I learnt a lot about stock markets during this journey.
Time pass: What an Idea!
How to solve Indian economic crisis?
I am proposing a simple but an interesting idea to solve current economic crisis. Indians have Rs 72,80,000 crore money in Swiss banks (2006 report). Indian government should collect that money and pay all the foreign debt and use the remaining money to spend on stimulus package. Government can afford to cut tax rates to increase consumption power of people. What an Idea!
Swiss Banks Organization proposed to give the details of Indians who have accounts in Liechtenstein bank. But Indian Government (unsurprisingly) had not responded to their request.
Read this excellent article on Indians and Swiss banks. Click here to open a Swiss bank account to save your millions.
Good articles:
1. Can we invest in cash rich technology companies?
2. What is happening across the world?
Interesting stats on Great Depression:
1. Dow Jones took 20 years to reach the pre-depression peaks after Great Depression. Dow Jones was at 380 in 1929. It crossed 380 levels only in 1956. Second World War also delayed the Dow Jones recovery. So, USA is really in big trouble. But India has huge opportunities but we missed great leaders.
The Nifty has taken severe Bear beating due to weak global cues and the down turn in the Asian markets. The belied expectations of the markets pushed hard to un-wind the long positions built over the fortnight. This could be the major reason for the Nifty heavy weights opened below yesterday lows.
The news flow is also no good to help the Bulls to hang on their positions. The Europe melts down by 3%and the US is bleeding. In case the US fails to recover at least 2% from the bottom then our markets likely to crumble on its weight.
Market PULSE check by Stock-O-Meter:
As posted in the morning, the Nifty took support at 2757 and the high registered at 2855 (2857-62high and low at 2750)
The Reliance took support at took support at 1258.20 and the high touched at 1307. The ONGC high 689.4and the low touched at Rs 670.0.The ICICI bank though touched high at 438.8 but it did not cross 405 at any point but touched a low at 380.20. The RelInfra has got support at 507.65 touched a high at 528.8
The news flow is also no good to help the Bulls to hang on their positions. The Europe melts down by 3%and the US is bleeding. In case the US fails to recover at least 2% from the bottom then our markets likely to crumble on its weight.
Market PULSE check by Stock-O-Meter:
As posted in the morning, the Nifty took support at 2757 and the high registered at 2855 (2857-62high and low at 2750)
The Reliance took support at took support at 1258.20 and the high touched at 1307. The ONGC high 689.4and the low touched at Rs 670.0.The ICICI bank though touched high at 438.8 but it did not cross 405 at any point but touched a low at 380.20. The RelInfra has got support at 507.65 touched a high at 528.8
The interim budget has everything for the forth coming elections but not for the industry. It is more so for the stock markets. How can we expect fire works from a Govt that faces elections with in 3 months?. The rumors were spread to attract retail positions building in longs and the HNI/operator building on the other side to make some quick money in a week. It is very unlikely that a retailer build against position.
The Nifty was at same closing level when a comparison made with a week back levels show that the stocks in F&O sector are still in the positive territory despite of the Nifty falls by100 points. The Nifty has built solid foundation of bottom building at 2660-90 for 5 consecutive days and at 2750-80 for 6 consecutive trading days. So the is very likely to get support at these levels. The recent top for Nifty was capped at 2926-69 level for 6 trading days.
As the home bound down trend, Erope weakness and the current melt down of Asian markets may put pressure in the opening. If we take a cue from the SGX-Nifty down by nearly 30 points may trigger more unwinding. The Nifty for this day could face resistance at 2857-62 level. The support is likely to emerge at 2780 and at 2750 level. The RIL is good for long only when it trades above 1375-73 level. The RIL will become weak if it trades below 1260 level. But it may face resistance at 1351-53 level for today and the bottom support first at 1291-93 level and further fall may take it to 1271 level.
The ICICI took support at 406 level which I wrote in my earlier posts (……..that The banking sector build decent bottom building can trigger a rally of 10-15% from the current levels. …………The Nifty has the potential to touch 2930 level has bottom support at 2780 level and is good for Bull so long it trades above 2813-15 level. The RIL can cross 1375 has bottom support and good above 1321 level. The ICICI can touch 418 level and good above 406. The Infosys has resistance at 1315-20 region and support at 1236-42 regions………..).The Relcap took support at 396 level and SBI above 1126 level. Now the triggers for this sector are lacking but a ray of hope still alive as RBI expected to go for a rate cut soon. The RBI may announce at least 50bps rate cut in CRR to infuse more liquidity in the system after the announcement of inflation figures on Thursday.
The ONGC is weak below 694 and good above 705, ICICI may face resistance at 416-18 level and good above 429 only. The bottom support may emerge at 391-88 level. The Rel infra is good above 546 weak below 539 and the bottom support first at 505 and at 496 level.
The Nifty was at same closing level when a comparison made with a week back levels show that the stocks in F&O sector are still in the positive territory despite of the Nifty falls by100 points. The Nifty has built solid foundation of bottom building at 2660-90 for 5 consecutive days and at 2750-80 for 6 consecutive trading days. So the is very likely to get support at these levels. The recent top for Nifty was capped at 2926-69 level for 6 trading days.
As the home bound down trend, Erope weakness and the current melt down of Asian markets may put pressure in the opening. If we take a cue from the SGX-Nifty down by nearly 30 points may trigger more unwinding. The Nifty for this day could face resistance at 2857-62 level. The support is likely to emerge at 2780 and at 2750 level. The RIL is good for long only when it trades above 1375-73 level. The RIL will become weak if it trades below 1260 level. But it may face resistance at 1351-53 level for today and the bottom support first at 1291-93 level and further fall may take it to 1271 level.
The ICICI took support at 406 level which I wrote in my earlier posts (……..that The banking sector build decent bottom building can trigger a rally of 10-15% from the current levels. …………The Nifty has the potential to touch 2930 level has bottom support at 2780 level and is good for Bull so long it trades above 2813-15 level. The RIL can cross 1375 has bottom support and good above 1321 level. The ICICI can touch 418 level and good above 406. The Infosys has resistance at 1315-20 region and support at 1236-42 regions………..).The Relcap took support at 396 level and SBI above 1126 level. Now the triggers for this sector are lacking but a ray of hope still alive as RBI expected to go for a rate cut soon. The RBI may announce at least 50bps rate cut in CRR to infuse more liquidity in the system after the announcement of inflation figures on Thursday.
The ONGC is weak below 694 and good above 705, ICICI may face resistance at 416-18 level and good above 429 only. The bottom support may emerge at 391-88 level. The Rel infra is good above 546 weak below 539 and the bottom support first at 505 and at 496 level.
Use it learn & Learn to make money and convey the same to others.
INDEX GAME-
BUY NF ABOVE 2777 SL 2730 TARGET 2840/2880
SELL NF BELOW 2777 SL 2840 TARGET 2730/2650
BUY BANK NF ABOVE 4200 SL 4150 TARGET 4250
SELL BANK NF BELOW 4150 SL 4200 TARGET 4100/4050
STOCKS GAME-
BUY BHARATFORG ABOVE 82 SL 80 TARGET 78/76
BUY EDUCOMP ABOVE 2000 SL 1950 TARGET 2050/2100
BUY ESSAROIL ABOVE 70 SL 67 TARGET 73/76
BUY GSPL ABOVE 32 SL 30 TARGET 34/36
BUY HCLTECH ABOVE 110 SL 105 TARGET 115/120
BUY HEROHONDA ABOVE 945 SL 935 TARGET 955/965
BUY MRPL ABOVE 40 SL 38 TARGET 42/44
BUY NAUKRI ABOVE 440 SL 430 TARGET 450/460
BUY THERMAX ABOVE 160 SL 155 TARGET 165/170
SELL ACC BELOW 540 SL 560 TARGET 520/500
SELL DISH TV BELOW 25 SL 26 TARGET 24/23
SELL GESHIP BELOW 175 SL 180 TARGET 170/165
SELL ITC BELOW 180 SL 185 TARGET 175/170
SELL JINDALSTEL BELOW 970 SL 1000 TARGET 940/910
SELL MARUTI BELOW 600 SL 620 TARGET 580/560
SELL MATRIXLAB BELOW 81 SL 84 TARGET 78/75
SELL POWERGRID BELOW 85 SL 87 TARGET 83/81
SELL RECLTD BELOW 79 SL 81 TARGET 77/75
SELL RENUKA BELOW 83 SL 85 TARGET 81/79
SELL ULTRACEMCO BELOW 409 SL 419 TARGET 399/389
Sensex Technical View :
BUY NF ABOVE 2777 SL 2730 TARGET 2840/2880
SELL NF BELOW 2777 SL 2840 TARGET 2730/2650
BUY BANK NF ABOVE 4200 SL 4150 TARGET 4250
SELL BANK NF BELOW 4150 SL 4200 TARGET 4100/4050
STOCKS GAME-
BUY BHARATFORG ABOVE 82 SL 80 TARGET 78/76
BUY EDUCOMP ABOVE 2000 SL 1950 TARGET 2050/2100
BUY ESSAROIL ABOVE 70 SL 67 TARGET 73/76
BUY GSPL ABOVE 32 SL 30 TARGET 34/36
BUY HCLTECH ABOVE 110 SL 105 TARGET 115/120
BUY HEROHONDA ABOVE 945 SL 935 TARGET 955/965
BUY MRPL ABOVE 40 SL 38 TARGET 42/44
BUY NAUKRI ABOVE 440 SL 430 TARGET 450/460
BUY THERMAX ABOVE 160 SL 155 TARGET 165/170
SELL ACC BELOW 540 SL 560 TARGET 520/500
SELL DISH TV BELOW 25 SL 26 TARGET 24/23
SELL GESHIP BELOW 175 SL 180 TARGET 170/165
SELL ITC BELOW 180 SL 185 TARGET 175/170
SELL JINDALSTEL BELOW 970 SL 1000 TARGET 940/910
SELL MARUTI BELOW 600 SL 620 TARGET 580/560
SELL MATRIXLAB BELOW 81 SL 84 TARGET 78/75
SELL POWERGRID BELOW 85 SL 87 TARGET 83/81
SELL RECLTD BELOW 79 SL 81 TARGET 77/75
SELL RENUKA BELOW 83 SL 85 TARGET 81/79
SELL ULTRACEMCO BELOW 409 SL 419 TARGET 399/389
Sensex Technical View :
Yesterday it was mentioned Sensex may go towards 9000 and we have seen a low of 8994 which is close to the trendline and support. Failing to hold this level would imply a test of 8750 which is the next support.
A sustained move below 8500 would possibly lead to a quick move to 7700-8300 band. Continue to remain short and book out at 8750-9000 and wait for a dead bounce to decide next move.
Stocks to watchout for :
Colgate the only long choice on dips pullbacks ( defensive sector ) book on 10% gains. LnT and Bharti still some more downside left trail if short.Nifty 2700 pe discussed on chatbox ( client call too) moves from 28-30 to 50 booking advised.
Risky option trade buy call option of 2900/2800 strike or Mini Nifties when Sensex goes to 8750 and Nifty 2700 for a bounce back.
Infosys
The stock broke below 1240 and 1190 support and is now headed towards 1140 from where it could see some sort of bounce. Booking advised around 1140-1160.
HDFC Bank and ICICI Bank
Both the stocks which were on the short radar ( ICICI sell call around 410 for clients does tgt 380) . Similar patterns and similar returns. HDFC Bank could see some bounce from 860-865 so booking advised around that zone or trail the position. ICICI below 380 the next support is 355-362.
AXIS Bank could be a risky buy around 378-384 with a stop of 375 for a pullback of 15-20 bucks. below 375 it can break the October lows.
PSU banks
Finally the PSU banks like BOI,BOB, OBC and PNB have started cracking under pressure. It would be an interesting trade or investment closer to October lows although they need to crack more for that. Long term investors can keep a watch.
TCS
The stock has been in the range of 480-530. A break below 378 with volumes would give a short trade for a tgt of 455.
RNRL and Rcom below 43 and 155 may actually knock new lows also. Traders can avoid longs.
Glaxo Pharma
It seems we have yet another defensive bet being played on. Buy on dips to 1160-1170 with a stop of 1135 for short term 10% bounce.
As expected Gold gave a good move to 975 levels after crossing 930. Should face resistance in this zone of 980-990. Profit booking advised for traders as well as people holding on to their ETFs, Bees etc.
Dow Jones :
After bouncing back from 7700-7750 once has broken the supports and is testing lows. Expect a dead bounce from 7400. The major support levels are placed around 6800-7200.
NIFTY SUPP@2670-2705-30 RESIS@2780-2805
BUY ON DIPs/MORNING
RELIINFRA,
L&T,SATYAM,EDUCOMP,
RENUKA,BALCHINI
MRO-TEK,HEXAWARE,OPTOCIRCUIT
GLENMARK,NALCO,ZEEL
SELL ON RISE/MORNING
UBI,RELCAP,SBI
BHEL,TITAN,HDFC
CENTURY
HEROHONDA
SAIL,TATASTEEL,STER
Buildup for March series.... Calls |
| Puts | ||||||||||||||||
| Quote | Open
Interest | LTP | Net
Change | Volume | Bid
Qty | Bid
Price | Offer
Price | Offer
Qty | Strike Price | Bid
Qty | Bid
Price | Offer
Price | Offer
Qty | Volume | Net
Change | LTP | Open
Interest | Quote |
| Quote | 98,700 | 572.20 | -63.30 | 132 | 50 | 565.00 | 569.90 | 500 | 2200.00 | 550 | 26.15 | 26.75 | 1,450 | 25,034 | 3.15 | 26.05 | 3,474,050 | Quote |
| Quote | 550 | 650.00 | - | - | 500 | 357.00 | 791.00 | 100 | 2250.00 | 10,700 | 21.90 | - | - | 1 | - | 20.00 | 1,000 | Quote |
| Quote | 13,150 | 500.00 | -50.00 | 3 | 50 | 460.00 | 485.00 | 100 | 2300.00 | 2,000 | 35.10 | 35.50 | 1,000 | 14,706 | 4.30 | 34.45 | 881,050 | Quote |
| Quote | - | 525.00 | - | - | 500 | 260.50 | 793.00 | 100 | 2350.00 | 11,000 | 29.85 | - | - | - | - | 396.75 | - | Quote |
| Quote | 2,750 | 390.00 | -177.80 | 11 | 50 | 372.00 | 401.00 | 500 | 2400.00 | 500 | 49.55 | 50.00 | 100 | 5,533 | 8.15 | 49.85 | 580,300 | Quote |
| Quote | 50 | 440.00 | - | - | 500 | 198.00 | 595.00 | 100 | 2450.00 | 5,000 | 55.75 | - | - | 13 | 45.65 | 55.75 | 900 | Quote |
| Quote | 129,550 | 309.70 | -66.80 | 494 | 500 | 305.25 | 313.00 | 50 | 2500.00 | 800 | 69.75 | 70.00 | 50 | 16,123 | 13.45 | 69.90 | 2,178,500 | Quote |
| Quote | 50 | 350.00 | - | - | 1,600 | 254.80 | 298.10 | 1,300 | 2550.00 | 750 | 80.05 | 85.50 | 750 | 1 | -421.95 | 78.90 | 50 | Quote |
| Quote | 124,250 | 238.95 | -63.95 | 1,967 | 5,000 | 237.35 | 239.00 | 50 | 2600.00 | 850 | 95.10 | 95.95 | 350 | 10,180 | 19.90 | 95.95 | 636,500 | Quote |
| Quote | 150 | 230.00 | - | - | 1,850 | 186.40 | 223.75 | 1,400 | 2650.00 | 750 | 110.70 | 115.95 | 750 | 11 | 15.20 | 112.20 | 350 | Quote |
| Quote | 464,450 | 175.85 | -52.75 | 4,146 | 50 | 173.10 | 176.75 | 100 | 2700.00 | 1,400 | 132.50 | 133.00 | 5,000 | 28,512 | 27.75 | 132.60 | 1,806,300 | Quote |
| Quote | 250 | 145.00 | -25.00 | 6 | 750 | 141.30 | 145.00 | 50 | 2750.00 | 750 | 148.75 | 155.15 | 750 | 11 | 36.65 | 153.20 | 300 | Quote |
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