NEWSLETTER

NIFTY(3495)-

Out of six stocks recommended in this page yesterday four

hit their target today it self, other two will surely do that today.

As written yesterday market was dragged down by global clues and

jumped back high in to positive territory confirming the bullish

undertone at least for the short term. Today market may test 3434

and 3360 on profit booking, up side targets are 3520 and 3570.

WELGUJ-(96.9)-

Target is 105,closing over this 120.Support93.5 and 90.

SL 87.

UNITECH(48)-

Support at 45.5 and 43.5. SL 41.1stTarget 50 and then 60.

AMBUJACEM(85)-

Target 89.5 and 95.Support at 80 and 78.SL75.

BHARATFORGE(134)-

Support at 125.6 and 128.Target 139 and 150 in 2/3

days.SL 124.

AUROPHARMA(220)-

Support at 214 and 206.Target 240.SL 200.

RNRL(61.8)-

Support at 59.5 and 57.Target 63.5 and 70.

SL 55.

(ALL SL ON CLOSING BASIS)

Other stocks which look profitable are IDFC,IOB,

INDIAINFO,LITL AND IVRCLINFRA.

(Azad)

RELIANCE : (1830.05)

Buy Above 1820 target 1-1869, target 2-1900, stop loss 1800
Sell Below 1800 target 1-1762, target 2-1694, stop loss 1820

REL CAPITAL : (547.55)

Buy Above 535 target 1-595, target 2-641, stop loss 525
Sell Below 525 target 1-480, target 2-461, stop loss 535

REL INFRA : (710.20)

Buy Above 715 target 1-744, target 2-778, stop loss 685
Sell Below 685 target 1-658, target 2-629, stop loss 715

ICICI BANK : (442.90)

Buy Above 436 target 1-476, target 2-490, stop loss 422
Sell Below 422 target 1-388, target 2-360, stop loss 436

ZENSAR TECH : (93.30)

Buy Above 93 target 1-98, target 2-103, stop loss 90

WOCKPHARMA : (92.95)

Buy Above 92 target 1-97, target 2-103, stop loss 88

HAVELLS : (168.85)

Buy Above 172 target 1-178, target 2-192, stop loss 167

NALCO : (251.15)

Buy Above 250 target 1-266, target 2-302, stop loss 242
(Azad)

Sensex : (11284.73) Today Sensex face resistance at 11510. if cross 11510 then goes up to 11735. Sensex find support at 11114, if break 11114 then fall up to 10889 and 10500.

Nifty : (3484.15) Today Nifty face resistance at 3552, if cross 3552 then goes up to 3620. Nifty find support at 3426, if break 3426 then fall up to 3364 and 3245.

Nifty April Futures (As on 15th April 2009) closed at 3492.90 (Rs 8.75 Premium) with a turnover of Rs 14270.61 crores, adds 2046400 shares (4.85%) in open interest pushing the open interest to 44204100 shares.

(Inder Bhatia)

The Indian market opened on gap down but saw smart recovery at last trading session and close with handsome gains. On daily chart nifty has convincingly closed above 200sma as we can see further upside movements towards 3530-3583 zone on the lower side 3401-3373 will acts as support zones .



raman)

BUY HCL Technologies Stop Loss 125 Target 142

BUY Adlabs Films Stop Loss 235 Target 257

BUY Sesa Goa Stop Loss 114 Target 127

BUYBalrampur Chini Stop Loss 71 Target 83


Asian Markets
Asian Markets are trading higher following cues from U.S. markets on signs of easing recession.

Nikkei Stock Average 225 was up 2.90 pct to 8,996.39.
Hang Seng Index was down 0.33 pct to 15,618.60.
KOSPI Index up 1.70 pct at 1,355.70.
Shanghai Composite Index was down 1.14 pct to 2,507.12.

U.S. Markets
On Wall Street,Stocks were volatile on Wednesday and close the day with some gains on signs of easing recession.The Dow Jones industrial average gained 109.44, 1.38 percent, to 8,029.62.The Standard & Poor's 500 index gained 10.56, 1.25 percent, to 852.06. The Nasdaq composite index was up 1.08, 0.07 percent, to 1,626.80.

(Ilango)

Another negative cue from world markets was swiftly utilised by the bulls and Nifty scaled a land mark hurdle at 200 DMA and closed above it.
There is a breakout in the log chart too in a convincing way.
3305 will become a reversal area as of now and 3400-3425 area as a possible buying support area incase of some profit booking.
Some amazing moves in individual scrips were noticed again today..

Santy

Today it has been a really good day for Nifty. As per my analysis, nifty did found nice support at 3330 ( making HH and HL pattern) and traded higher all day though meeting target one at 3420 and target two at 3466 ( Check last post for detail description). Daily chart and weekly chart looks very bullish and in this situation it is always advisable to go with the trend, that means BUY from pullback. Today nifty crossed 50% Fibonacci level ( from 4570 to 2226) and is trying to touch 68.2% Fibonacci level in this current wave. Tomorrow a small pullback is expected before a new uptrend. If price comes down to 3462-3442 area, then watch the price action and volume, IF price gets support, then BUY at 3465 with stop loss below 3440 for target at 3505. Nifty could touch 3684 ( 68.2% fib level) by this Friday if US market gets good support from this April earning session.

MY CHART

Nifty :: Second time in last four day’s Nifty made an unpredictable bullish candle after breakdown .. No technical works at this stage but as per our experience be careful in such kind of overbought rally.. Avoid to give new commitment at higher level just book profit at high…

(NOORESH)

Sensex Technical View :

In the last few days Sensex has continued the momentum and has come to the 200 dema range of 11200-11400.

On the fibonacci retracement basis 11650 is 50% of the last leg of fall from 15600 -7700.

The range breakout was around 7700-10945 or so and such a move would definitely give a higher target technically on simpler basis but the move is already exaaggerated so one needs to be cautious.

The 200 dema /dma levels are generally broken easily in such a move and lots of media channels may start getting bullish on that for a couple of sessions and thats when a possible breather can be in the offing. Technically one needs to wait for a reversal sign from here on and i would expect 11650 + or - 100 points to be the zone where the current rally may take a breather from though i would still wait and watch then be aggressive on either side of the trade now.

In the last 3 weeks since March last week when our 50 sessions of time analysis got over we have been on the long side of specific stocks with catching numerous 10-20-50-70 % moves in short term.

Market Observations and Thoughts :

RESPECT the SCREEN is one sentence i always remember when one is a short term trader in the equity markets.

Markets are bound to surprise and one needs to be flexible and switch sides quickly as surprises can turn to shocks in moments !!!

In the last couple of weeks the BEAR confidence was too high but the undertone was always bullish. All the shorters i met would say i would BUY stocks/investments at 1900/2200/2400 Nifty with my short profits!!. This was one of the reasons for a bottom failure all over the world with similar bullish undertones being prominent too.

The markets have given no signal yet of a reversal in the rally and as a trader one needs to respect the screen for success. The tape gives the right signals !!!! just keep watching and reacting dont go against it is a simple rule to be followed....

Detailed discussion on it some other time.

Stocks to watchout for :

Dishman moves sharply to 120 continue to hold for more. Bilcare wait for dips. Arshiya , sical ( 5% ckt ) , Shaw Wallace still have much distance to travel.

Will give a review the calls in the last 3 weeks and client recommendations also in the weekend. Excellent moves of 20-70 % grabbed in so many stocks !!

GRASIM

The stock has been facing resistance around 1645-1655 zone. If moves above 1655 can expect a small move to 1720-1800 in extreme short term.

Bongaigaon refinery can give a sharp 10 -15% move if sustains above 46-46.5.

Small cap stocks where good volumes seen and can move up by 10-25% in short term. Lil risky as not much of fundamental check done.

Modern Dairies stop 16 ,

Murudeshwar stop 18.5

NIIT stop of 24.5

Some fundamentally decent picks in the small cap segment which investors can look at. Technically seeing some buying on lower levels so a short term move not ruled out.

IFGL refractories

Ashiana Housing

Murudeshwar Ceramics

Nifty Daily charts with 200 day EMA
Applying EMA(13,34,55) principle to Nifty Weekly charts it is found that nifty has made a strong breakout above 13 week EMA last week and facing the first level of immediate resistance near 3230(34 Week EMA) with overbought RSI-2 levels near 95.82 and CCI-4 slightly dipping below 100 levels. Respecting 3230 as a resistance will target nifty once again towards the 13 EMA line i.e 2918(13 Week EMA). Any strong breakout above 3230 levels will target 3340 and 3456 in short term.

And Applying EMA(13,34,55) principle to Nifty daily charts if is found that nifty is currently trading above 13,34,55 EMA
Before going to the picture EMA Traders will agree concept that

IF 13 EMA > 34 EMA > 55 EMA THEN = BULL MARKET

IF 13 EMA < 34 EMA < 55 EMA THEN = BEAR MARKET

NIFTY DAILY CHART


Nifty is toward another hurdle at 3500 (closing basis) above which it will open for 3650 levels. Trade in stock specific, with tight stop loss 4 gain in this market. Hot Sector for Today: Infra.