| When I saw the headlines of SEBI enquiries in AKRUTI it was very clear that the stock will open weak due to this story and stock will then fire all the way by another 10 to 20%. My idea was a possible Rs. 2200 but it went all the way up to 2350. Prima facie it looks that the bears had surrendered and cut short their positions. This conclusion is drawn form the fact that after touching Rs 2350 it fell to straight Rs 2000 which was expected to happen only on settlement. What I reported on HDIL and few other realty stocks was out in media today. The realty stocks will largely in the grip of bulls for next few weeks. In fact, I am inclined to say that JP may break the jinx of 90 and 100 and travel to Rs 150 in coming weeks which should be guidelines for all of you to decide what will happen to HDIL, DLF, UNITECH, HCC and few other realty stocks. After FII exit in CENTURY, FII have also made exit in BOMBAY DYEING which had made this stock to find its bottom. Now a fresh set of FII are entering in this stocks which will take BOMBAY DYEING to Rs 225 in next 2 months and going forward to Rs 1000 plus in 12 months. The dirty dogs are out and few good dogs are entering. VOLTAS will rise heavily every day with huge volumes and it will cross Rs 50 to 60 in coming weeks. Investors should know one thing now that the dirt in B group has got completely washed out as small and petty investors will wait till 31st to clean the Balance Sheet. It means the new sun is rising for small cap and penny stocks. Enter as per your wish list. My bets will be SSDUNCAN, VIP, CCL, TRIVENI GLASS, MARTIN BURN, KAMANWALA HOUSING (market gang had taken big stake in this company at 100 and they are so powerful that they will on their own bring back the rate of Rs 100 ), MSP, JEYSWAL, ASSAM COMPANY, VISHNU CHEMICALS, GREMACH, SANDUR offers great values and could outperform even if the GDP falls to 4% simply because they have corrected more than their intrinsic values and there is clear cut disproportion of market cap to net assets. Some companies need to be valued on net assets method instead of DCF because the net assets have a realizable value which is nothing but cash. Coming back to market, inflation is now as low as zero percent which is multi year history which is in favour of further cut of interest rate by 1%. The GDP will get bettered. Tax collections have touched Rs 3.15 lakh crore as against target of Rs 3.45 lakh crore till 17th March and in my opinion the figure of 3.45 crore will be achieved. The reason is that lot of tax payers have decided to defer the advance tax payment to by paying interest due to extreme cash crunch. They are hopeful to generate cash in FY and will be able to meet the tax liability in SA tax. In fact, there could be a remote possibility of crossing target as IT dept has spaced the action in much faster rate to mop of tax and there is for sure lot of unaccounted money is still into circulation which will come under tax lens. I personally do not agree with CLSA report that Fiscal Deficit will mount to 14% of the GDP. If this is feasible I have a solution for the same which can reduce the fiscal deficit of the Government to 5% provided Government has willpower to do the same. It could be very difficult to reach my views to North bloc. Based on my assessment on tax collections, I have reason to believe that the Q4 numbers will be much better than expected by our community and will really surprise and well, the GDP numbers will also be revisited and 7% GDP claim will resurface for FY 10 which will keep market in good health. The day this happens the new set of money chasers will make fresh entry in India because the rule of the game is that invests in the market which outperforms. The same goes well with companies where the share prices are trading at the all time low. Companies which have really started outperforming are getting investor’s attention e.g. RELIANCE and BHEL. |
Sensex : (9001.75) Today Sensex face resistance at 9093 level, if cross then goes up to 9185 and 9277. Sensex find support at 8904 level, if 8904 broken then panic selling started and Sensex fall up to 8807 and 8715.
Nifty : (2807.15) Today Nifty face resistance at 2830 level, If cross then goes up to 2853 and 2876. Nifty find support at 2777 level, if 2777 break then fall up to 2747 and 2724.
Nifty Futures : Yesterday Nifty March Futures close at 2800.75 (Rs 6.40 discount) sheds 2094600 shares (-7.48%) in open interest, bringing down the open interest to 25891550 shares.
For Nifty 2807 to 2830 level certainly seems to be a big resistance area, because last three days we have seen that profit booking emerging from these levels. For Nifty Trader as long as Nifty not clear these resistance level hold your short position.Nifty likely to open gap down because yesterday US markets falls near 1% . If Nifty open gap down then book profit near above mention support level.
The Indian market opened on higher note traded with choppy note and closed on flat note .For coming session nifty had form Doji on daily chart which indicate indecisiveness .On lower side 2770 will act support zone and upside 2830 will act as strong resistances zone .
Dowjones is formaing falling wedge and clean divergences on chart as price had made newlow but indactor had not made new low shorterm --8190 target
As we are nearing the settlement and the US having their Quadruple witching tomorrow, quite a lot of action may be expected soon.
Time and again, the pivot table has been quite handy..
Trade safe..
Nifty :: Once again an insider day with low volume.. Nifty and Sensex both constantly face upper end of channel resistance.. As we say in yesterday post correction due any time.. Be caution at higher level..Now momentum turns up only above 2841.. For 20th March watch first resistance 2813..And support 2838/2723.. In one level above 2813 momentum seems up, below 2813 momentum down.. Our strategy for 12th March Sell at high (S.L 2841) buy on deep (S.L 2723).. Resistance for up move at 2813/2841/2873 /2888.. Supports at 2779/2752/2738/2723/2690/2668..
(As per our last week post Dow Jones up almost 20% from bottom,now required one healthy correction for upswing)
It was indeed an interesting trading session with a mixed bag performance. Some major developments on the US front and the fact that India’s inflation touched its lowest in 20 years (partly due to base effect), however, failed to cheer the market. The Sensex has finally closed the day just above the 9000 mark at 9001.75 points, up 25.07 points or 0.28 per cent. In fact if one looks at the overall Asian performance, barring Taiwan Weighted, Seoul Composite and Nikkei, which closed down marginally in the red, the rest of the Asian indices have closed in the green. The European markets too started on a positive note. In fact some of those indices are trading quite strongly with gains of more than one and even two per cent. One can expect the US markets to open gap up in the green and it could sustain the gains it has posted last night. We believe to see a better impact on the domestic markets which are expected to trade in the green even tomorrow.
Too much open interest is increasing on the Put of 2900 & call of 2700, it means Nifty will trade between the level of 2900 & 2700.
BSE Sensex: (9002) the support for the Sensex is 8900-8845 and the resistance to the up move is at 9120-9380
Nifty: (2807) Nifty able to close psychological support of 2800 in last trading day now nifty hurdle point is 2840 . Still Nifty remains in range bound and nifty close above 2840 or higher side then we can see levels of 2900. Break below 2772 will take nifty towards 2700 mark. Support for the Nifty is at 2750 and the resistance to the up move is at 2850-3150
NIFTY (2807.15)
Support : 2780 / 2765 / 2750 / 2735 / 2710
Resistance : 2840 / 2880 / 2905
SENSEX (9001.75)
Support : 8900 / 8845 / 8810
Resistance : 9020 / 9085 / 9120 / 9185
NIFTY FUT
Support : 2775 / 2750 / 2735
Resistance : 2820 / 2835 / 2855 / 2880
BANK NIFTY
Support : 3675 / 3625
Resistance : 3730 / 3775 / 3830
On Friday,Opening is Flat to Up,
Stay Long Above 2810,Sl Below 2785,Tgt 2830-2845-2860-2880,
Sustain Below 2790,Sell with Sl Above 2805,Tgt 2775-2760-2745-2720.
Buy GAIL Above 225
Buy WIPRO Above 235,Tgt 240-45-50,Sl 230
Buy ONGC Above 730,Tgt 740-45-60,Sl 725
Buy SBIN (969),Tgt 980/990,Sl Below 950
Buy PATELENG Above 125,Tgt 130/35,Sl 120
Buy PTC Above 55,Tgt 63/65/70,Sl 50
Sell ACC Below 545,Tgt 535-30-15,Sl 550
Sell CIPLA Below 195,Tgt 193-90-185,Sl 200
Sell JETAIRWAYS Below 180,Tgt 170-65-50,Sl 185
Sell RCOM Below 160,Tgt 155-50-40,Sl 165
Sell ACC Below 540,Tgt 530/525,Sl 545
Stock Watch :
GNFC Above 58
GMR INFRA Above 85/86
RELIANCE Above 1350/55
BUY NF ABOVE 2840 SL 2777 TARGET 2880/2940
SELL NF BELOW 2777 SL 2840 TARGET 2730/2650
BUY BANK NF ABOVE 3750 SL 3700 TARGET 3800/3850
SELL BANK NF BELOW 3750 SL 3800 TARGET 3700/3650
STOCKSGAME-
BUY ABB ABOVE 370 SL 365 TARGET 375/380
BUY ABIRLANUVO ABOVE 395 SL 385 TARGET 405/415
BUY AXISBANK ABOVE 355 SL 345 TATGET 365/375
BUY BANKINDIA ABOVE 205 SL 200 TARGET 210/215
BUY BOMBAYDYEING ABOVE 135 SL 125 TARGET 145/155
BUY GLAXO ABOVE 1100 SL 1090 TARGET 1110/1120
BUY MAHASEAMLESS ABOVE 130 SL 125 TARGET 135/140
BUY MINDTREE ABOVE 260 SL 250 TARGET 270/280
SELL ACC BELOW 545 SL 550 TARGET 540/535
SELL AMTEKAUTO BELOW 75 SL 80 TARGET 70/65
SELL ASHOKLEY BELOW 18 SL 19 TARGET 17/16
SELL BHEL BELOW 1400 SL 1420 TARGET 1380/1360
SELL CIPLA BELOW 195 SL 200 TARGET 190/185
SELL GRASIM BELOW 1460 SL 1480 TARGET 1440/1420
SELL M&M BELOW 350 SL 360 TARGET 340/330
SELL NALCO BELOW 225 SL 230 TARGET 220/215
SELL TATAMOTORS BELOW 170 SL 175 TARGET 165/160
After gyrating the whole day, the Futures finally close just above the 50 day average.
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