Buy Above 1342 target 1-1358, target 2-1378, target 3-1414, stop loss 1330
SEll Below 1335 target 1-1320, target 2-1300, target 3-1270, stop loss 1345
RELINFRA : (483.10)
Buy Above 482 target 1-493, target 2-505, stop loss 475
Sell Below 473 target 1- 463, target 2-430, stop loss 482
RELCAPITAL : (313.05)
Buy Above 315 target 1-320, target 2-325, target 3-337, stop loss 306
Sell Below 306 target 1-300, target 2-275, stop loss 315
RCOM : (158.95)
Buy Above 158 target 1-161, target 2-164, target3-167, stop loss 155
Sell Below 157 target 1-154, target 2-150, target 3-145, stop loss 162
ABAN : (326.25)
Buy Above 326 target 1-331, target 2-336, target 3-374, stop loss 316
Sell Below 316 target 1-305, target 2-295, stop loss 326
AXIS BANK : (342.40)
Buy Above 344 target 1-359, target 2-380, stop loss 335
Sell Below 340 target 1-325, target 2-309, target 3-278, stop loss 350
Bharti Airtel : (569.40)
Buy Above 567 target 1-577, target 2-585, target 3-601, stop loss 556
Sell Below 562 target 1-557, target 2-551, stop loss 570
BHEL : (1378.05)
Buy Above 1390 target 1-1400, target 2-1412, target 3-1446, stop loss 1380
Sell Below 1380 target 1-1355, target 2-1345, stop loss 1392
ICICI BANK : (323.05)
Buy Above 327 target 1-332, target 2-342, target 3-369, stop loss 317
Sell Below 324 target 1-317, target 2-311, target 3-300, stop loss 330
EDUCOMP : (1914.30)
Buy Above 1915 target 1-1984, target 2-2054, stop loss 1900
Sell Below 1900 target 1-1835, target 2-1756, stop loss 1920
SATYAMCOMP : (43.95)
Buy Above 46 target 1- 48, target 2-53, stop loss 42
Sell Below 42 target 1-40, target 2-35, stop loss 45
SBI : (954.70)
Buy Above 958 target 1-967, target 2-979, target 3-1012, stop loss 950
Sell Below 954 target 1-943, target 2-932, target 3-892, stop loss 965
STERLITE : (316.80)
Buy Above 317 target 1-322, target 2-327, target 3-336, stop loss 310
Sell Below 311 target 1-305, target 2-290, stop loss 317
TATA STEEL : (176.25)
Buy Above 175 target 1-180, target 2-184, target 3-191, stop loss 170
Sell Below 174 target 1-165, target 2-159, stop loss 180
TATA MOTORS : (160.90)
Buy Above 165 target 1-170, target 2-179, target 3-184, stop loss 160
Sell Below 162 target 1-155, target 2-149, stop loss 170
MCDOWELL-N : (648.10)
Buy Above 660 target 1-672, target 2-690, stop loss 650
Sell Below 650 target 1-630, target 2-593, stop loss 660
INFOSYSTCH : (1296.20)
Buy Above 1302 target 1-1318, target 2-1325, target 3-1339, stop loss 1290
Sell Below 1294 target 1-1279, target 2-1263, target 3-1245, stop loss 1305
DLF : (171.50)
Buy Above 171 target 1-175, target 2-180, stop loss 166
Sell Below 163 target 1-160, target 2-152, stop loss 171
M&M : (355.50)
Buy Above 355 target 1-361, target 2-367, target 3-384, stop loss 347
Sell Below 347 target 1-340, target 2-326, stop loss 355
L&T : (585.10)
Buy Above 593 target 1-604, target 2-613, stop loss 585
Sell Below 585 target 1-572, target 2-556, stop loss 593
Sensex : (8966.68) Today Sensex face resistance at 9024 . If cross 9024 then goes up to 9082 and 9140. Sensex find support at 8887, if 8887 break then fall up to 8808 and 8750.
Nifty : (2807.05) Today Nifty face resistance at 2825. If cross 2825 then goes up to 2843 and 2861. Nifty find support at 2780, if 2780 break then fall up to 2755 and 2737.The key level for Nifty now is 2807 in the up side and 2706 in the downside, and last four days Nifty unable to penetrate either of these two level and trading in a very narrow range. If this week Nifty break and close below 2700 then very soon we visit 2543 and 2280 level in the downside.
Nifty March Futures closed at 2801.65(Rs.5.40 discount) with a turnover of Rs 7870.89 crores, sheds 1542050 shares (-5.96%) in open interest bringing down the open interest to 24349500 shares.
For Nifty Traders keep a eye on 2780 level for today, if this level break then go short for a target of 2750 - 2735- 2710, stop loss at 2800.
BEST STOCKS TO BUY FOR SHORT-TERM
Ahmednagar Forgings Ltd : (33.65)
Buy between 30-32 level target 1-38, target 2-47, stop loss 27
Shree Renuka Sugars Ltd : (81.20)
Buy between 78-80 level target 1-88, target 2-94, stop loss 75
BOC India Ltd : (136.65)
Buy between 125-130 level target 1-146, target 2-151, stop loss 118
GMR Infrastructure : (87.55)
Buy between 83-85 level target 1-96, target 2-114, stop loss 75
Essar Shipping Ltd : (30)
Buy between 30-32 level target 1-36, target 2-46, stop loss 27
ESS DEE Aluminium Ltd : (146.50)
Buy between 135-140 level target 1-157, target 2-177, stop loss 130
Chambal Fertilisers and Chemicals : (38.50)
Buy between 38-40 level target 1-43, target 2-49, stop loss 35
Ceat Ltd : (35)
Buy between 35-37 Level target 1-41, target 2- 47, stop loss 32
Easun Reyrolle Ltd : (41.10)
Buy between 40-42 level target 1-48, target 2- 55, stop loss 35
Era Infra : (83.50)
Buy between 75-80 level target 1-93, target 2-110, stop loss 70
Hot Hindalco For this week
CONTAINER CORP----- shorterm
Nifty Hourly Chart
The Indian market opened on weak note and traded in red zone but saw smart recovery at last trading session . For coming session nifty is near breakout or breakdown zone if nifty trade above 2830 we can see more upside towards 2880zone .On other side trading below 2771- levels it can test 2745= 2730 zones .Nifty on daily chart are trading in narrow zone for last three trading session .
Intraday [] Pivot is 2793 and Support is 2745
S1 2774, S2 2746, S3 2726 And R1 2821, R2 2841, R3 2870
Buy above 2805 and if it breaks 2815 then 2825,2855-2870
Short below 2790 and if it breaks 2775 then 2755,2735,2725
Trade wisely...Trade well...
Equity This Week : 23/03/09 To 27/03/09
Cash Market :
FIN.TECH
Buy Above 562 Target 575, 590 [] Sell Below 538 Target 522, 510
BIRLA CORP.
Buy Above 177 Target 188, 200 [] Sell Below 171 Target 160, 145
Future Market :
SBI Future
Buy Above 996 Target 1033, 1087 [] Sell Below 945 Target 900, 865
RIL Future
Buy Above 1355 Target 1385, 1420 [] Sell Below 1317 Target 1285, 1245
Nifty Future
Buy Above 2830 Target 2875, 2925[] Sell Below 2760 Target 2710,2660
Aban Today Sustains above 317.6
Just above Weekly 5 EMA ( 317.6) and 20 day EMA(317.2) Resistance line
RSI-2(daily) - 98.67(Overbought levels)
If sustanins above 317 on friday(i.e tommorow) then next target towards 34 day EMA
34 EMA(Daily) - Rs373.9 .Else Usual profit booking in this counter.
Check out the Enough Deliverable Quatity Not even 10%. Poor One. Still the stocks moves
Assuming a bear low is in place at 2539, Market can get a little bit higher upto 2850-2865 area(Remember the highly talked about 2860 area)(If 2815 is not cleared, there is no 2860) and start a corrective move towards 2662-2700 area(Remember the highly talked about 2660 area).
So you have 2660 --2860 as decisive levels for Nifty in the coming days. Below 2660, it can slide towards 2550-2475.
"Channels Breaking" has always given good trading points..Let us also not forget some false breaks, so be prepared for the same as we head into "Settlement week". This settlement started with 2772 and the rolled over shorts are at nearly cost price and only the weak shorts created at the lower levels would have panicked & exited after the world rally. Break of 2772 will boost the confidence of the Strong bears to stay put and may even roll over again. At 2700 & 2665, those shorts may exit the March series and may get rolled over to April series.
However, individual stocks will behave differently in the coming days.. ONGC, RIL, GMR, SAIL & similar ones that have closed at the high points will continue to do well on every dips till settlement but Cement stocks, Bank stocks may see selling pressure.
I continue to maintain that "Investors" should pick their choice of stocks leisurely on every panic dips by having their calculations ready for individual stocks and do it in small parts and increase the buying once signs of bottom & another +ve divergence start visible to us.
"Traders" would find Shorting rewarding once 2772 is broken and halt a while around 2660 to see whether that level holds.
Cairn will now target the top of the channel at 210~ and Sterlite makes a highest close since October '08.
The 10 period ROC on this Reliance weekly chart is into the positive zone and is rising. Reliance needs just a little bit push to bring it above the 1400 mark and most probably it will clear it in this coming week.
ONGC makes the highest close in 22 weeks on the above weekly chart. Below is the daily chart showing the price breakout above a 4 month rectangle.
We have beaten the records as far as the present – remaining in overbought zone for more than expected time, RSI has remained above 50 for more time than expected. This can mean two things only – one that we are out of the worst that we would see and second is that the markets may take baby steps to recovery. What would have I done personally at this point? well I would have sold Nifty. There is a strong possibility of the markets moving lower over next few sessions. Though we may eventually go up – but that immediate euphoria should end now and we should ideally come back to mother earth. I have been reading, seeing and observing… I feel that frankly the kind of growth that we saw in the last decade will not be reproduced in a hurry – may be not in my generations life time. The west including US will undergo a radical change in their thinking and the period with the kind of spending with rolling credit cards is over for now. Firstly – whether they like it or now – the generation will wake up to the fact that savings is necessary, living off rolling credit is not an option and on the other hand the banks will come under a lot of scrutiny with the govt meddling with their affairs. The dishing out of credit cards and loans by touts standing on the road side will not happen. The banks will study their clients more carefully. The real estate will not run away like it did for some time now. That having said about west and the US – here is the caveat – this will be forgotten by everyone over next few years and this same stunt of living off credit and making the same mistakes will be next done by us – the developing world – India and China specifically. It is the vested interest of the developed nation that will propel towards it. 
Got carried away – back to the immediate task at hand. Let me start with the global cues. The run-up that we saw for last few days is running out of steam but like I said we may be in short term upswing so till some time to come do buy during when the markets are oversold rather than selling blindly during upswings. Asia was mixed with Nikkei down 0.33%, Hang Seng down 2.26% and Strait Times up 0.76%. The Europe started red and then oscillated red and green to finally end green. Green yes but less than a percent so. FTSE was up 0.68%, DAX up 0.63% and CAC up 0.51%. The US on other hand started flat/green and ended with losses of almost two percent. DOW was down 1.65%, Nasdaq down 1.77% and S&P down 1.98%.
The candle on Friday made a doji. Well during the days I did not update the blog – the markets crossed the immediate resistance near the middle of the Bollinger bands and headed higher towards the upper edge. Unfortunately the markets have lost steam just short of reaching the upper edge. Here we are overbought so we will take a breather – or go down. If we go towards the2650 mark now – then we are still in the lower bottom and lower tops – on the other hand if we spend some time around here and go higher than 2953 by about 50 points then we are into short/mid term recovery. So have patience the markets will tell their direction in due course of time. 5 EMA is above the 20 EMA and what a relief it has been. It is definitely trying to attempt a crossover of 50 EMA but I am not sure if that would happen in a hurry. Volumes dropped. I could not decipher what ADX wanted to tell me so I will leave it aside for some time. RSI is good and bullish but if we take this as bear rally then it is at its peak and might correct downwards. Slow Stochastic has been in overbought territory for some time now – expect it to come southwards – and it will carry the index alongwith. MACD as of now is bullish.
Let us see the Pivot data for tomorrow.
R3 2859
R2 2841
R1 2824
Pivot 2798
S1 2781
S2 2755
S3 2738
Projected High Range 2811 to 2833
Projected Low Range 2799 to 2777
Fib Projected High 2827
Fib Projected Low 2761
Okay before I pen off see the option data of nifty – there is a huge build up of puts and perhaps that is preventing us to go down?
Another small appeal before I pen off – there is a independent blog critics who have rated this blog 6 out of ten. The rating was without my asking for – now I have a request – if you have time please click the blogged icon on the left and write a review and rate the blog – just for getting kicks sake -- cheers
This is a 15 min time frame intraday chart of Nifty futures. As can be seen from chart, it is in a range from 2760 to around 2800 levels. A clear breakout from these levels and if it sustains above this then we can see the next range resistance level which is around 2871. As of now 2760 is acting as a support where a sort of double bottom was formed.
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