NEWS

Axit D ShahHello Friends,



We are updating this blog after many days, anyways Markets are close to Resistance zone & profit booking was likely to come from Nifty 2810-2825 levels. This levels were updated in morning to members of our free sms group.

The Level 2810-2825 has trendline resistance as shown in charts & also we have Fibo retracement level of 61.8%. So did markets as made high of 2805 in spot Nifty & the Era of profit booking started. On hourly charts markets saw a congestion around 2727 to 2750 of spot Nifty. Any close below this 2727 level can break this trend of short bull run or pull back rally.

Another scenario is if Nifty is able to sustain & close above 2810-2825 then we can see Nifty testing higher levels of 2855 / 2888 / 2929. May be some Global Cues or Local +ve news from RBI can do the same. We are in last & final leg of Time Analysis which we used to discuss last month & wrote many things / scenarios. In this time we just saw a break down from 2666 to 2525 & markets gave sharp pull back from there.

Our Scenario 2 on Time analysis is the same as happening in markets that in this final leg if time passes & markets stay stable ( like not breaking previous low ) then we can see the short term immediate bottom has been made which wil sustain for the next few coming months. Next month markets have lot many holidays in the 1st & 2nd week of April & then we have the Most
Expensive Democratic Elections coming.

NifTiee Intra Day Levels :
Close 2757
Supports : 2725 / 2710 / 2690
Resistances : 2777 / 2810 / 2825


RELIANCE : (1300.20)

Buy Above 1315 target 1- 1331, target 2- 1362, target 3- 1414, stop loss 1295
Sell Below 1300 target 1- 1281, target 2- 1265, stop loss 1315

RELCAPITAL : (312.40)

Buy Above 314 target 1- 320, target 2- 330, target 3- 337, stop loss 302
SEll Below 310 target 1- 303, target 3- 295, target 3- 275, stop loss 316

RELINFRA : (464.35)

Buy Above 467 target 1- 474, target 2- 483, target 3- 493, stop loss 460
Sell Below 462 target 1- 456, target 2- 448, target 3- 428, stop loss 470

RCOM : (158.10)

Buy Above 159 target 1- 164, target 2- 168, target 3- 184, stop loss 155
Sell Below 156 target 1- 151, target 2- 147, stop loss 162

RNRL : (42.70)

Buy Above 44 target 1- 47, target 2- 50, stop loss 41
Sell Below 41 target 1- 39, target 2- 35, stop loss 44

ROLTA : (53.70)

Buy Above 53 target 1- 57, target 2- 60, target 3- 64, stop loss 50
Sell Below 50 target 1- 47, target 2- 45, target 3- 41, stop loss 53

RENUKA : (80.30)

Buy Above 81 target 1- 83, target 2- 86, stop loss 79
Sell Below 80 target 1- 78, target 2- 73, stop loss 82

ABAN : (286.65)

Buy Above 285 target 1- 297, target 2- 308, target 3- 316, stop loss 280
Sell Below 280 target 1- 272, target 2- 258, stop loss 287

AXIS BANK : (325.50)

Buy Above 333 target 1- 341, target 2- 358, stop loss 324
Sell Below 324 target 1- 315, target 2- 305, stop loss 333

ICICI BANK : (323.40)

Buy Above 325 target 1- 335, target 2- 348, target 3- 369, stop loss 320
Sell Below 320 target 1- 312, target 2- 302, stop loss 327

SBI : (950.05)

Buy Above 966 target 1- 983, target 2- 1012, stop loss 950
Sell Below 950 target 1- 931, target 2- 913, stop loss 966

SCI : (73.60)

Buy Above 75 target 1- 77, target 2- 82, stop loss 71

STERLITE : (292.75)

Buy Above 297 target 1- 308, target 2- 323, target 3- 336, stop loss 288
Sell Below 290 target 1- 280, target 2- 269, stop loss 297

MCDOWELL-N : (707.30)

Buy Above 702 target 1- 728, target 2- 749, stop loss 690
Sell Below 690 target 1- 669, target 2- 630, stop loss 710

MERCATOR : (25.70)

Buy Above 26 target 1- 29, target 2- 34, stop loss 23

L&T : (617.60)

Buy Above 620 target 1- 627, target 2- 637, target 3- 651, stop loss 613
Sell Below 615 target 1- 608, target 2- 600, stop loss 625

BHEL : (1401.65)

Buy Above 1405 target 1- 1421, target 2- 1440, target 3- 1489, stop loss 1390
Sell Below 1400 target 1- 1381, target 2- 1372, stop loss 1412

EDUCOMP : (1952.65)

Buy Above 1975 target 1- 2028, target 2- 2104, stop loss 1950
Sell Below 1950 target 1- 1912, target 2- 1890, target 3- 1834, stop loss 1975

TATASTEEL : (168.60)

Buy Above 170 target 1- 173, target 2- 175, stop loss 168
Sell Below 168 target 1- 165, target 2- 161, stop loss 174

Sensex : (8863.82) Today Sensex face resistance 8897, if cross 8897 then goes up to 8992 and 9120. Sensex find support at 8768, if break 8768 then fall up to 8672 and 8545.

Nifty : (2757.45) Today Nifty face resistance at 2768, if cross 2768 then goes up to 2797 and 2807.The key level for Nifty is 2807 if cross 2807 then fly up to 2836 and 2850.Nifty find support at 2728, if 2728 break then fall up to 2706 and 2698.

For Nifty Trader market is likely to open higher, kept a eye on 2807 level, if not break this level then go short with a stop loss of 2840 for a target of 2750 and 2710 in next few days.

Inder Bhatia)

The Indian market opened flat not and saw profit booking near higher level .For coming session one can go long around 2701-2670 zones and trading above 2777 levels it can test 2801-2823 zone .On the lower side 2718-2690 zone will act as support zone .

(Nifty Bhaloo)

(Ilango)

Nifty got resisted @ R1(2805) and broke the Pivot(2754) but managed to close above.
A correction upto 2650 area in the next 2 days can adjust the "OB" technicals & will still keep the hopes of another attempt at 2800-2830 area.
Presently a sell is generated in the hourly but daily in upmode & the weekly in downmode.Nifty is quite close to the channel top but the vertical move of the last few days has set in a short term weakness that was evident today with some -ve divergences. Trade light for a couple of days.
There is a inverse H&S formation possibility with shoulder support @ 2675 and the neckline @2805.
As long as the channel is not broken on the upside around 2835 with a critical 2860 to be scaled, a fall ("E" wave of the ending diagonal)towards 2550-2500 is still to be taken into consideration.
Trade light for a couple of days.







MY CHART

Nifty :: As per our yesterday post Nifty create multiple top near 2805..now for further up move required to break this level 2805/2806 above 2806 next strong resistance 2828.. In down move watch strong support 2742/2721/2714.. Still short term momentum down up to 2899 that’s why avoid buying at higher level.. As far as stay above 2742 our strategy only for 18^th March buy on deep (S.L 2714) sell at high (S.L 2828) .. In one level above 2775 momentum seems up below 2775 momentum down.. Resistance for up move at 2775/ 2806/2828/2882/2899.. Supports at 2742/2721/2714/2700..

waval atul)

as per our posting,, posted today nifty fall down from 2800 level where we were assuming nifty to take turn from 2777 it will go up up925 POINTS ONLY UP) to 2803 spot level as i am not good but trying hard to be intraday close moove to the mkt,,,,any way read this graf again ,, we completed wave --- p ---- shown in graf starts from 2800 spot level to 2740 spot level TODAY......that p is indicated in small letter and in green colour,,,,now tommarow expecting little green up opening near 2770--2780 level to end small letter green colour --q-- wave ,,,there u short nifty like madcow ...with out stoploss(2770--2780 spot level) and go for trip atleast FULL DAY TOMMAROW...do not cover it till 3.20 pm ,,,all of u will get mini 70-80 points in nifty,,,my tgt tomm is 2670--2660 spot level to end our ---r-- wave,,,,,HAVE A NICE TRADING SESSION

(Niftytrends)

This is a 15 min chart of Nifty futures. We have used the Point and Figure method to analyse it. Let us see what it is telling. The rally of the past 3 days started when it broke the diagonal trendline around 2650. From the chart, we can see that recently futures had made high of 2800 and retreated. Today also Nifty tried to break the high of 2800 but could not sustain and fell. we might see 2650 and if that is broken 2400. Right now 2800 on the upside and 2650 on the downside are the levels to be watched out.

(SVShah)

Daily Market Outlook: 18 March 2009

As per our comment last day we see today profit booking at higher levels and market close almost flat. Last trading day took a “U” turn. The Indian markets seem to be taking a breather and the forward march of the Global Markets seem to be slowing down. The Asian markets showed a totally mix bag performance where HangSeng, Sensex, Jakarta Composite and Straits Times closed in the red. Now we see gap down opening on 18 March 2009.

BSE Sensex: (8864) the Support for the Sensex is 8650 & the Resistance to the up move is at 9065-9140

Nifty: (2757) Nifty still in Negative Trend. The support for the Nifty is at 2700 and the resistance to the up move is at 2805-2840

NIFTY (2757.45)

Support : 2730 / 2715 / 2700 / 2685 / 2645

Resistance : 2790 / 2805 / 2840 / 2870

SENSEX (8864)

Support : 8765 / 8675-50

Resistance : 8990 / 9065 / 9125

NIFTY FUT (2752)

Support : 2725 / 2700 / 2685 / 2665 / 2635

Resistance : 2775 / 2795 / 2805 / 2835

MKT COMMENTS

NIFTY FUT OI down 3.03% with 16% increasing volumes indicating unwinding of long positions.

We expect any down move would be followed by strong bounce.

On Wednesday,Opening is Flat to Down,

Stay Short Below 2760,Sl Abv 2780,Tgt 2725-2700-2680,

Sustain Above 2780,Buy with Sl Below 2760,Tgt 2800-2825-2840.

Sell SBIN (950),Sl Above 965,Tgt 935/925/915

Sell BHARTI Below 570,Tgt 560-550-530,Sl 575

Sell HDFC BANK Below 820,Tgt 805-780-730,Sl 835

Sell HLL Below 235,Tgt 230-220-215,Sl 240

Sell NTPC Below 175

Buy BHEL Above 1410,Tgt 1425-1445-1490,Sl 1390.

Buy BPCL Above 355,Tgt 365-370-385,Sl 350

Buy ITC Above 175,Tgt 178-180-185,Sl 170

Buy WIPRO Above 230

Buy ONGC Above 720/25,Tgt 740/50,Sl 715

TATA MOTOR LOOKING HOT AND FIERY

FUTURES

Buy SUZLON@ 36,Sl 35,Tgt 36.65/36.8/37.3/37.9/38.4/39 (Lot Size : 6000)

Sell UNITECH@ 25,Sl 25.7,Tgt 24.7/24.35/24.1/23.9/23.65/23.2/22.9 (Lot Size : 9000)

Sell CIPLA Below 200,Sl 205

Astrology18 Group

Market may open up. Market may up between 10.00 and 10.24 Market may steady or up side between 12.09 and 12.32. Market may close at up to previous closing.




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Opening Bell Call
Buy

RELIANCE - Reliance Industries Ltd
IFCI - IFCI Limited
SUNPHARMA - Sun Pharmaceuticals Industries Ltd
CHAMBLFERT - Chambal Fertilizers & Chemicals Ltd
AKRUTI - Akruti City Limited
ESSAROIL - Essar Oil Limited

On 17th February 2009 - The BSE Sensex closed at 8,863 (down 79 points) while the NSE Nifty closed at 2,757 (down 19 points).

Opening Bell Call
Sell

JPASSOCIAT - Jaiprakash Associates Limited
GRASIM - Grasim Industries Ltd.
INFOSYSTCH - Infosys Technologies Ltd.
BAJAJ-AUTO - Bajaj Auto Limited
DENABANK - Dena Bank

Technical Analysis for 18th February 2009

BSE-SENSEX - Major Resistance - 8896, 8944, 8991, 9055, 9119, 9167, 9214, 9262
BSE-SENSEX - Major Support - 8832, 8768, 8721, 8673, 8609, 8545, 8481, 8417

NSE-NIFTY - Major Support - 2767, 2781, 2795, 2815, 2834, 2848, 2862, 2877
NSE-NIFTY - Major Resistance - 2748, 2728, 2714, 2700, 2681, 2661, 2642, 2623

(NOORESH)

GMR INFRA :

As per the bse announcements promoters continue to increase the stake in the stock. Technically it is yet again close to the resistance zone of 83-85. Will it be able to cross or the current move is only coz of promoter buying is a difficult question to answer. Volumes also are not great enough.

So would prefer to watch for more clues. Traders who would like to take a trade can either buy above 85 or sell with a stop of 85 odd ....

Sensex Technical View :

Sensex makes a high around 9024 and settles a little lower. Nothing consequential in the day as of now.The resistance on upside remains around 9100-9250. On the downside supports at the gap zones of 8480/8270 roughly.

Stocks to watchout for :

Cairn continues to remain bullish for 174/185 in short term. Infy does 1260 , TVS motors keep a stop of 20.

Cairn

The stock continues to look strong on charts for a tgt of 174/185 . Buy on dips to 165-167 with a stop of 164 for the day tgt 174-178 .

GMR infra chart posted above ...

Speculative moves possible in Havells and EKC .. Technical speculation

ssGTL is one stock which has outperformed the market. From it's October '08 low, the stock has risen steadily gaining 57%. It's December '07 high is around 310+ A couple of 100's of this stock in your portfolio can give you a good return.