Buy Above 1530 target 1-1570, target 2-1599, stop loss 1505
Sell Below 1500 target 1-1470, target 2-1414, stop loss 1530
RELCAPITAL : (357.75)
Buy Above 353 target 1-360, target 2-366, target 3-382, stop loss 341
Sell Below 340 target 1-331, target 2-315, stop loss 353
RELINFRA : (537.65)
Buy Above 535 target 1-551, target 2-564, target 3-597, stop loss 525
Sell Below 525 target 1-514, target 2-493, stop loss 535
MCDOWELL-N : (685.90)
Buy Above 680 target 1-717, target 2-741, stop loss 670
Sell Below 670 target 1-646, stop loss 682
ABAN : (332.20)
Buy Above 332 target 1-339, target 2-345, target 3-364, stop loss 325
Sell Below 330 target 1-323, target 2-316, stop loss 335
AXIS BANK : (398.10)
Buy Above 395 target 1-410, target 2-423, target 3-444, stop loss 385
Sell Below 377 target 1-360, target 2-341, stop loss 393
DLF : (176.65)
Buy Above 174 target 1-182, target 2-187, stop loss 170
Sell Below 170 target 1-166, target 2-163, stop loss 175
UNITECH : (33.95)
Buy Above 33 target 1-36, target 2-38, target 3-46, stop loss 30
Sell Below 32 target 1-30, target 2-28, stop loss 34
ICICI BANK : (365.55)
Buy Above 370 target 1-375, target 2-382, stop loss 360
Sell Below 360 target 1-353, target 2-340, stop loss 370
SBI : (1049.95)
Buy Above 1048 target 1-1066, target 2-1086, stop loss 1035
Sell Below 1040 target 1-1028, target 2-1012, stop loss 1052
STERLITE : (347.10)
Buy Above 345 target 1-361, target 2-375, target 3-411, stop loss 335
Sell Below 335 target 1-326, target 2-305, stop loss 345
EDUCOMP : (2049.10)
Buy Above 2050 target 1-2092, target 2-2135, target 3-2185, stop loss 2030
Sell Below 2030 target 1-1988, target 2-1963, stop loss 2050
PRAJ IND : (52.35)
Buy Above 52 target 1-54, target 2-57, stop loss 52
CHAMBLEFERT : (39.20)
Buy Above 39 target 1-41, target 2-43, stop loss 37
BHEL : (1482.05)
Buy Above 1480 target 1-1505, target 2-1529, target 3-1635, stop loss 1465
Sell Below 1460 target 1-1444, target 2-1400, stop loss 1480
Sensex : (9667.90) Today Sensex face resistance at 9774, if cross 9774 then goes up to 9879 and 9985. Sensex today support at 9600, if 9600 break then fall up to 9495 and 9323.
Nifty : (2984.35) Today Nifty face resistance at 3014, if cross 3014 then goes up to 3044 and 3074. Nifty find support at 2970, if 2970 break then fall up to 2938 and 2892.
Nifty March Futures closed at 2983.10 (Rs 1.25 Discount) with a turnover of Rs 13408.57 crores. Sheds 1467700 shares (-8.09%) in open interest bringing down the open interest to 16679200 shares.
Power chart Bhel.....
The Indian market opened on flat note and saw choppy session but managed to closed in green zone. For coming session trading above 3020 it can test 3057-3090 zone .On the other side below 2965 it can test 2938-2916 levels and trading below 2915 . we can see more crack towards down side .
Hot Unitech
As long as Nifty moves up in this channel, no threat as yet.
A likely range of 3040 to 2940 for the settlement day..!! Just a wild guess..It can change depending on the world mkts.
For investors, there is a small write up here worth reading:
Indian Stocks: Urgent Opportunity Announcement
Nifty :: Once again an insider day with positive bias.. After a Long upper shadow candle pattern Nifty able to hold last low 2914..!! May be settlement close smoothly without any heavy volatility.. For 26th March Watch strong support 2932/2914 and in up move watch strong resistance 3031/3047.. As far as stay above 2914 our strategy for 26th March buy on deep (S.L 2914) Sell at high (S.L 3047) .. In one level above 2975 momentum seems up, below 2975 momentum down.. Resistance for up move at 3017/3031/3047/3110/3118
Supports at 2932/2914/2906/2866/2856..
(All world indices traded in extremely overbought level without any heavy correction, be caution at higher level, avoid buying at high)
Daily Market Outlook: 25 March 2009
It was a volatile day for the Indian equity markets. Taking cues from the strong global markets the Indian markets started on a positive note and moved upwards till 12 pm. But afterwards the markets started tumbling on account of profit booking. They followed a simple lower top and lower bottom structure to close at day’s low. While Sensex closed at 9471.04 (Up 47.02 points), Nifty closed at 2938.70 (Down 1.20 points).The European markets started to decline as the day progressed. This resulted in the Indian markets declining towards the fag end of trading session.
On the sectoral front, metal witnessed a drastic fall as commodity stocks also witnessed a fall in global markets. Only banking showed some mettle to close 2.18 per cent up.
In the morning session realty and bankex were up by more than 4 per cent, but could not sustain the levels. As regards the advance decline ratio, although market tumbled in the fag end, it was more or less equal with 1121 advances and 1401 declines.
PM: economy to revive in big way in 6-7 months
Airline industry to lose $4.7 billion in 2009: IATA
Govt levies safeguard duties on Chinese aluminum
India gross tax collections up to Mar 22 at Rs 3.2 tn
India to join Marine Highway project in Africa
Govt issues bonds worth Rs 10,000 cr to oil PSUs
NIFTY (2938.7)
Support : 2915 / 2890 / 2855 / 2835
Resistance : 2965 / 3000 / 3025 / 3040 / 3060
SENSEX (9471.04)
Support : 9345 / 9225 / 9070
Resistance : 9645 / 9700 / 9820
NIFTY FUT (2938)
Support : 2910 / 2880 / 2850
Resistance : 2970 / 2995 / 3035 / 3055
MKT COMMENTS
NIFTY FUT OI (both series) up with increasing volumes indicating rollover to next series and forming of long positions in next series.
Todays Markets Saw A Volume of 95K Cr,Maximum After Jan 2008
Expect NIFTY Expiry Around 2880-3000.We expect NIFTY FUT to trade volatile.
DOWJONES Close Above 7940,Will Fire To 8090/8475/8600.DONT REMAIN SHORT ABOVE 7940.
On Wednesday,Opening is Flat to Down,
Stay Short Below 2930,Sl Above 2950,Tgt 2915-2900-2880-2860-2845,
Sustain Above 2950,Buy with Sl Below 2930,Tgt 2970-3000-3020-3045-3070
HUGE RISKY TRADERS :
BUY NIFTY SL 2850 TA 3000
If NIFTY Correct In Open Trade on Global Cues,Then BUY 2900 CE (MAR) Around 2900-2880,Sl 2850 Levels & Leave For Expiry.
Sell RANBAXY Below 165,Tgt 155/50/45,Sl 170
SBIN (1032) Sell with Sloss Above 1045,Tgt 1015/05
Sell ACC Below 550,Tgt 535-525-500,Sl 565
Sell BOB Below 225,Tgt 215-205-190,Sl 235
Sell BHARTI Below 605,Tgt 595-580-550,Sl 620
Sell VSNL Below 515,Tgt 510-500-485,Sl 520
Buy TATACHEM Above 135,Tgt 140-145-155,Sl 130
Buy SIEMENS Above 235,Tgt 245-255-270,Sl 230
Buy HCLTECH Above 105
Buy TCS Above 533/35,Tgt 545/55,Sl 525
Buy ZEEL Mar 104/05,Sl 100,Tgt 106.1/107.2/108.1/109.3/110/111/112 (Lot Size : 2800)
Sell CENTURYTEXT Mar 189/87,Sl 191,Tgt 185.5/184.6/182.7/180/179/177/175/173 (Lot Size : 1696)
COMEX GOLD (APR): The upside crossover of the 9 and 18 bar moving average is a positive signal. Stochastics are at mid-range but trending higher, which should reinforce a move higher if resistance levels are taken out. A positive signal for trend short-term was given on a close over the 9-bar moving average. The swing indicator gave a moderately negative reading with the close below the 1st support number. The near-term upside objective is at 965.1. The next area of resistance is around 950.0 and 965.1, while 1st support hits today at 928.0 and below there at 921.0.
COMEX SILVER (MAY): The upside crossover of the 9 and 18 bar moving average is a positive signal. Daily stochastic have risen into overbought territory which will tend to support reversal action if it occurs. The close above the 9-day moving average is a positive short-term indicator for trend. The daily closing price reversal down is a negative indicator for prices. The market tilt is slightly negative with the close under the pivot. The near-term upside target is at 1400.0. The next area of resistance is around 1384.5 and 1400.0, while 1st support hits today at 1357.5 and below there at 1346.0
MCX Natural Gas (April):
The market's close above the 9-day moving average is a short term positive indicator. Stochastic and RSI are nearing overbought zone indicating sideways to down prices are possible near term.
Technical Support - Rs.225-230 Technical Resistance- Rs.216-210
Today Expectations: As seen on the charts markets should take a strong resistance of 225 levels which is 65 day EMA (Blue line in the chart). We expect market to retrace till 38.2% which comes at 210 levels before trending higher.
| Technical Levels for 25 March 2009 | ||||||||
| Symbol | RES 1 | RES 2 | RES 3 | Pivot | Supp1 | Supp 2 | Supp 3 | Signal |
| GOLD | 15286.67 | 15508.33 | 15646.67 | 15148.33 | 14926.67 | 14788.33 | 14566.67 | Sell Signal |
| SILVER | 22628.00 | 22972.00 | 23204.00 | 22396.00 | 22052.00 | 21820.00 | 21476.00 | Sell Signal |
| LEAD | 66.40 | 68.40 | 69.70 | 65.10 | 63.10 | 61.80 | 59.80 | Sell Signal |
| COPPER | 204.45 | 207.80 | 210.15 | 202.10 | 198.75 | 196.40 | 193.05 | Sell Signal |
| NICKEL | 501.20 | 506.80 | 511.30 | 496.70 | 491.10 | 486.60 | 481.00 | Sell Signal |
| CRUDEOIL | 2707.00 | 2743.00 | 2765.00 | 2685.00 | 2649.00 | 2627.00 | 2591.00 | Sell Signal |
| ZINC | 63.87 | 65.13 | 66.12 | 62.88 | 61.62 | 60.63 | 59.37 | Sell Signal |
| NATURALGAS | 224.30 | 226.20 | 229.20 | 221.30 | 219.40 | 216.40 | 214.50 | Buy Signal |
| MENTHAOIL | 568.63 | 575.77 | 580.03 | 564.37 | 557.23 | 552.97 | 545.83 | Sell Signal |
| ALUMINIUM | 71.10 | 72.20 | 72.85 | 70.45 | 69.35 | 68.70 | 67.60 | Sell Signal |
| REFSOYOIL | 451.87 | 453.68 | 456.07 | 449.48 | 447.67 | 445.28 | 443.47 | Buy Signal |
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… and suddenly the air around me is filled with positive talk and that is all. The new mantra is – “there is no question of making fresh lows – infact we will now go on to make fresh highs” – come on guys – exactly 8 days back we were being told that fresh lows after we breach the Oct lows are very much on the market agenda – and what happened over these 8 days – am I missing something? Are you missing something – are turn around made over a period of 8 bloody days? Don’t fall for the trap at these levels. They trapped people to take positions when markets were hovering at 2600 levels and bombarding everyone with worst possible scenario and now there is a hype being build up at these levels to entice you to enter. I would suggest patience and there is no alternative to it really. Look at the chart below – we are well within the range that has been set and yet to break out.
Any way let us first see the global cues. Nikkei closed flat at 0.10% down in red, this was after spending the majority of the day in red only, Hang Seng ended with the maximum losses – down 2.07% and Strait Times down 0.86%. Europe has not closed as yet and it is trading mixed with positive bias perhaps. FTSE is down just 0.10%, DAX is up 1.22% and CAC is up 0.94%. In US there is a report of new home sales report that is second-worst but shows some rebound so markets are green DOW is up 2.02%, Nasdaq up 1.55% and S&P up 1.78%. It is not even mid session there as I have sat down earlier for updating the report and there is the entire day to go for knowing the final US closing figures.
As far as the charts are concerned – we had a good white candle today and we are trailing comfortably along the upper edge of the Bollinger band and that give strength to this momentum. 5 EMA is above the 20 and 50 EMA but the 20 EMA is yet to crossover the 50EMA. Volumes were slightly less than yesterday – 127% of the last 50 day average precisely. ADX is merrily swinging up giving strength to the bulls. MACD is bullish and RSI is at 66.46 – just 4 odd points below being declared overbought. TRIX is looking up and Slow Stochastic are spending another day in overbought condition. All in all we have entered a short term upswing but are now dangerously overbought so exercise extreme caution entering at these levels.
Tomorrow being expiry will rock the market both up and down and where it finally goes will be interesting to note. More interesting will be where we go next month with our elections around the corner and the crude looking upwards. I will now end with posting the Pivot data…
Let us see the Pivot data for tomorrow.
R3 3069 against 3120 yesterday
R2 3040
R1 3012
Pivot 2967 against 2856 yesterday
S1 2939
S2 2894
S3 2866 against 2792 yesterday
Projected High Range 2990 to 3026
Projected Low Range 2965 to 2929
Fib Projected High 3015
Fib Projected Low 2903
Stocks to watchout for :
Another Wolfe Wave? Target 3100~ !Hello Friends,
Nifty after witnessing highly volatile session managed to close at intra day higher levels. Due to expiry as expected the Volatility has increased. Today the last Thursday of the month & March Contracts to expire, Volumes in last few trading sessions has rose & almost touches 90k Crores which is very high at just 40-50% of prices.
Fii OI has rose in just last few trading sessions. Whats Cooking with so high volumes ? at just half the prices. Previous data of market shows that when ever markets falls or prices come down significantly the participation of people increases which leads to so high volumes. The same case we witnessed in many markets like Dow, Nasdaq etccc. Just imagine what volumes markets can do now if we test again 12000 - 15000 odd levels. Our Stats says that if markets just rise by 2000 to 3000 points from here then we may see all time high volumes as we use to see in Jan 2008 or at 20000 / 21000 levels.
NifTiee Intra day levels:
Close : 2984
Supports : 2950 / 2925 / 2888
Resistances : 3010 / 3030 / 3080
Today if markets manage to close above 3030 then we may see higher levels of 3080 or 3131. There is enough strength in the markets as since last two days its taking good support around 2929 levels. Markets are up almost up 20% from recent lows and many Index based stocks are up by 20 to 40%. To manage the indices the stocks which have not participated in the rally or have underperformed indices in this run may participate in the next rally.
All trading long positions can held with revised stop loss of 2888 on closing basis & if markets closes above 3030 then move the revised stop loss to 2929 to Ride the Volatility in Short Term
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