NEWS

(Azad)

RELIANCE : (1773.55)

Buy Above 1765 target 1-1800, target 2-1828, stop loss 1755
Sell Below 1755 target 1-1734, target 2-1695, target 3-1621, stop loss 1765

REL CAPITAL : (481.40)

Buy Above 483 target 1-495, target 2-507, stop loss 468
Sell Below 468 target 1-461, target 2-455, target 3-412, stop loss 483

REL INFRA : (664.60)

Buy Above 665 target 1-686, stop loss 655
Sell Below 655 target 1-641, target 2-629, target 3-618, stop loss 665

ABAN : (446.85)

Buy Above 446 target 1-460, target 2-472, stop loss 440
Sell Below 440 target 1-432, target 2-418, stop loss 446

AXIS BANK : (461.85)

Buy Above 462 target 1-472, target 2-481, stop loss 455
Sell Below 455 target 1-444, target 2-428, stop loss 462

BHEL : (1527.75)

Buy Above 1525 target 1-1547, target 2-1570, stop loss 1515
Sell Below 1515 target 1-1500, target 2-1489, target 3-1462, stop loss 1525

DLF : (234.85)

Buy Above 233 target 1-242, target 2-250, stop loss 227
Sell Below 227 target 1-212, target 2-204, stop loss 233

EDUCOMP : (2044.20)

Buy Above 2055 target 1-2095, stop loss 2040
Sell Below 2040 target 1-1999, target 2-1939, target 3-1834, stop loss 2055

ICICI BANK : (416.60)

Buy Above 416 target 1-424, target 2-434, stop loss 407
Sell Below 407 target 1-397, target 2-388, target 3-360, stop loss 416

INFOSYSTCH : (1409.30)

Buy Above 1420 target 1-1459, target 2-1508, stop loss 1410
Sell Below 1410 target 1-1361, target 2-1325, stop loss 1420

MCDOWELL-N : (717.50)

Buy Above 720 target 1-734, target 2-748, stop loss 705
Sell Below 705 target 1-689, target 2-675, stop loss 720

SBI : (1217.90)

Buy Above 1210 target 1-1247, target 2-1276, stop loss 1195
Sell Below 1200 target 1-1171, target 2-1125, stop loss 1210

STERLITE : (423.30)

Buy Above 422 target 1-434, target 2-445, stop loss 415
Sell Below 415 target 1-408, target 2-395, target 3-355, stop loss 422

L&T : (826.40)

Buy Above 826 target 1-863, target 2-899, stop loss 815
Sell Below 815 target 1-787, target 2-761, stop loss 826

TATA STEEL : (283.15)

Buy Above 285 target 1-293, target 2-303, stop loss 278
Sell Below 278 target 1-269, target 2-249, stop loss 285

Sensex : (10967.22) Today Sensex face resistance at 11092, if cross 11092 then goes up to 11217 and 11342. Sensex find support at 10821, if break 10821 then fall up to 10675 and 10550.

Nifty : (3382.60) Today Nifty face resistance at 3431, if cross 3431 then goes up to 3464 and 3505. Nifty find support at 3337, if 3337 break then fall up to 3292 and 3234.

Nifty April Future (As on 13th April 2009) closed at 3390.90 (Rs 8.30 Premium) with a turnover of Rs 9972.80 crores, adds 154950 shares (0.37%) in open interest pushing the open interest to 42157700 shares.


(Inder Bhatia)

The Indian market opened on green note and saw choppy session close with positive zone.For coming session market are trading in narrow range from last two session on Hourly chart Rsi indicating negative divergences for any long keep tight stop loss.On the lower side 3341-3316 level act support zone and trading above 3390 it will try to kiss 3411-3436 levels .

(raman)

SHORT SELL Cairn India Stop Loss 214 Target 180

SHORT SELL Axis Bank Stop Loss 475 Target 420

SHORT SELL Suzlon Energy Stop Loss 67 Target 52

SHORT SELL Tata Steel Stop Loss 298 Target 243


Asian Markets
Asian Markets are trading lower following cues from U.S. markets led by weak U.S. retail sales.

Nikkei Stock Average 225 was down 0.84 pct to 8,768.35 .
Hang Seng Index was down 1.84 pct to 15,294.10.
KOSPI Index down 0.94 at 1,329.96.
Shanghai Composite Index was up 0.55 to 2,541.18.

U.S. Markets
On Wall Street,Stocks declined on weak U.S. retail sales.The Dow Jones industrial average lost 137.63, 1.71 percent, to 7,920.18.The Standard & Poor's 500 index lost 17.23, 2.01 percent, to 841.50. The Nasdaq composite index lost 27.59, 1.67 percent, to 1,625.72.

(Rajandran)

Nifty hourly charts with bearish Negative momentum divergence. Lower band of Bollinger support near 3200

and daily 5 EMA support near 3297. Daily trend will turn negative if nifty dips below 3297

MY CHART

Nifty :: Constantly face resistance at higher level.. Give just intraday correction and again and again move up.. Bull may try to hold this bear market rally.. Once again we repeat our word be careful in this corrective up move.. Avoid buying at high in such kind of extreme overbought zone.. For 15^th April watch once level 3370 above 3370 momentum seems up, below 3370 momentum down.. Watch important support 3333 below 3333 momentum change hand from bulls to bear up to 3245/3133.. Our strategy for 15^th April Sell at high (S.L 3480) buy on deep (S.L 3333).. Resistance for up move at 3400/3434/ 3450/3480.. Supports at 3361/3333/3296/3245/3133..

Manoj chopra

Nifty is on the verge of facing huge resistance area around 3430 -3500,

1). 200 dma average at 3430 levels,

2).downward sloping trendline form the high of 6350 levels at 3440 levels ,

3).52 WEMA at 3490.

So, it would be advisable to book profit on Nifty longs or trade with stop loss 3305. It would be advisable enter longs on breach of 3500 levels for target 3800. Break of 3240 -260 levels with volume would indicate weakness in Nifty to test 3080 / 2980 levels.

Support are 3250 / 3080 /2980

Resistance are 3440 /3490 /3560.

Successful trading stands on three pillars.

You need to analyze the balance of power between bulls and bears.

You need to practice good money management.

You need personal discipline to follow your trading plan and avoid getting high in the markets.

(NOORESH)

Review : Idea Sesa short term traders trail stop to cost. Ge shipping SCI near the tgts. FSL Guj Nre and Balaji rocked with 20% moves in the week.

Of the investment stocks discussed almost have moved up. Even possible investment picks moved up sharply before we could get on consensus. The strategy to be stock specific 2 weeks back has helped immensely i suppose.

Dishman Pharma

The stock is seeing good volumes. Buy around 100-103 with a stop of 95 tgt of 118-127 in short term if it gives a breakout above 109.

BILCARE

Another mid cap stock seeing volume buildup. Buy on dips to 330-340 stop of 315 in short term.

Small cap Punter stocks :

arshiya International , Sical Logisitics , Shaw Wallace which could surprise with 10-25% upmoves in short term.

(NOORESH)

Although i am not a great supporter of Elliot Wave Analysis for a trading perspective as more simpler,effective analysis can be done by classical technical analysis and a practical approach. Following Elliot waves is more an academic exercise with lots of jargon , probabilities , combinations to confuse then to enlighten.

So there could be many different wave counts by different analysts and some may go terribly wrong.

After the view which i gave on April 4 i read on the net and found some bearish Elliot wave trackers have got onto a consensus of C 5 failure and a big B wave coming whereas some Mega Bears believe its C 4 and a massive last wave stil left. Simply put one camp believes 6500 and other 14500 !!! dis is where it gets tricky :) with waves. Many reports have been going around we would discussd that in next post.

Before getting into the detailed view please check the following links to get a better idea !

1)YOUTUBE VIDEO- May 08 and Youtube Video Jan09

2) ASIAN Indices - Trippple Treat
2) Sensex Time Analysis - November

4) Sensex Time Analysis - February

I had put up an Elliot wave view last weekend on April 4 in which i have given a comparison of the last big correction which happened in US in 1933 and the current one in Sensex. Though i dint get enough time to describe the charts but the counts are very clear and pointing to start of a B wave which is a super opportunity.

-- >Reason to compare the above two is as many economists point that current recession is the worst ever since 1933. So alongwith Elliot i have used the time analysis study which i have been posting regularly since March to point out turning points.

-- > Also one thing noticed historically is a BEAR market downfall continues in a lower top lower bottom channel and a time wise pattern like we saw in Sensex of 50 sessions of downfall and a stable pullback of 20-40 sessions. This pattern was broken in the last leg between Jan-March indicating a change. Later it did not make a new low in March mid to end as expected per the time pattern.

--- > The reversal from a major bottom is seen when the retracement move takes a lesser time then the previous downfalls. This was noticed when the Sensex 9700 to 8047 and 10470 to 8047 move was retraced back in lesser time and thats when we have put up the C - 5 failure confirmation chart on the blog. Similar pattern was seen in Dow Jones in 1933.

	14.04.2009

REFER to possibility I dated 02.11.2008 and 05.04.2009 :

As per these possibilities it was argued that Wave 4^th on monthly scale was over at 2252 and we are into a new bull market in the shape of wave 5^th on monthly scale but the confirmation was awaited which was given as breakout of 3254 lvl. So now the Wave 5^th as per these possibilities is confirmed with very high tgts for which there is no need to discuss at this juncture. The internal wave counts as on date for this wave 5^th is:

Wave1 2252—3240

wave2(with internal abc ) 3240- to 2540

wave3 2540 =è going on

tgt1 3220(achieved)

tgt2 3320 (achieved)

tgt3 3540 tgt4 3670 tgt5 3735 etc for wave3 pending

Note: THE INVALIDATION POINT FOR THIS POSSIBILITY AS ON TODAY STANDS RAISED TO 2965

	14.04.2009

THE weekly trend is also up with break of 3254 also marking the end of 1-5 on weekly scale ending in 5^th failutre type opening up a new uptrend on weekly scale in the form of wave1 from 2540 with the following tgts :-

Tgt1 3400 achieved

Tgt 2 3750 pending

Note: THE INVALIDATION POINT FOR THIS POSSIBILITY AS ON TODAY STANDS AT 3150 +-20 which will be revised with time

	14.04.2009

With the achievement of 3240-55 tgt2 is surpassed now we are moving towards tgt3 3500-3540 .the downside will be limited to either of two lvls 3250 or 3150 +-20pts in coming days with tgts on higher side upto 4000 and 4300

Note: THE INVALIDATION POINT FOR THIS POSSIBILITY AS ON TODAY STANDS AT 3150 +-20 which will be revised with time

ANY CHANGE IN THE WAVE STRUCTURE WILL BE INFORMED AS AND WHEN IT ARISES

Tata power: cmp 904 buy in the 882-885 for tgt of around 950 or conversely sell below 880-878 range for the lower tgt of 850 and 820.best buy around 820-830 range… if it comes… for higher tgt of 950 and 1050

Tata COMM: cmp 571 buy in the 595-600 only for tgt of around 650 or conversely sell below 550-548 range for the lower tgt of 530 and 520.best buy around 520-530 range… if it comes… for higher tgt of 650 and 670

Rel INFRA: cmp 664 buy in the 680-685 only for tgt of around 700 and 750 or conversely sell below 635 range for the lower tgt of 630 and then 600.best buy around 620-610 range… if it comes… for higher tgt of 700 and 750

RELIANCE: cmp 1773 buy in the 1790-1800 only for tgt of around 1900 and 2050 or conversely sell below 1700 range for the lower tgt of 1630 and then 1600.best buy around 1620-1610 range… if it comes… for higher tgt of 1900 and 2050

RELIANCECAPITAL: cmp 481 buy in the 470-460 only for tgt of around 500 and 550

PUT ALERTS FOR THESE STOCKS AND WHEN ALERT IS GENERATED GO FOR THE POSITION AND BOOK PROFIT IMMEDIATELY NEAR TO THE GIVEN LVLS. PLEASE DO NOT TAKE MORE THAN 2 POSITION AT A TIME.TAKE THE PROFIT AND COMEOUT.