Nifty : cmp 3620 Buy at the break out of 3710-3720 range with XL at 3650 for higher tgt of 3770 and then 3900 and 4000 OR conversely buy in dip around 3550+- 20points for the given higher tgts.
AS the forthcoming weeks will post the formation of government with election results ,there will be great increase in volatility on both sides so take cautious steps forward as there may be opening gaps on both sides .So far nifty does not break 3450 + - 20 pts the uptrend is safe.
ACC: cmp 601 buy around 590-600 with change to sell at the break of 590. THE buy tgt1 640 tgt2 690 tgt3 730. If sell is generated at 590 then tgt1 580 tgt2 565. Again buy at tgt1 of 580 and tgt2 565 for the given higher tgts.
Rel INFRA: cmp 768 Buy around745-755 range with XL at 745 for higher tgt1 820 tgt2 880 . OR conversely sell below 745 for tgt1 720 and then 700 . In case sell is generated then Best buy in the range of 700-720 for the given higher tgts
HDFC: cmp 1736 sell at the break down of 1720 lvl for lower tgt of 1670 and below .
IDBI: cmp 64 sell at the break down of 64 for lower tgt of 60-61.50 OR buy around 60-61.50 for the next higher tgt of 75 and then 85
M&M: cmp 493 sell at the break down of 482 for lower tgt1 of 450-460 and if tgt1 range is broken then tgt2 410-420…….. after achieving our tgts stock is in corrective mode and when ever correction ends the next higher tgt1 600 tgt2 730-750 will come into picture
RELIANCECAPITAL: cmp 574 sell at the break down of 560 for lower tgt1 of 550-545 and if tgt1 range is broken then tgt2 510-520…….. after achieving our tgts stock is in corrective mode and when ever correction ends the next higher tgt1 620 tgt2 700-780 will come into picture
TATA STEEL: cmp 282 BEST buy in the range of 275-265 with XL 260 for tgt of around 300 and 330 and then 350 OR conversely sell below 280 and buy in the given range for the given higher tgts.
INFOSYS: cmp 1520 BEST buy in the range of 1500-1520 with XL 1500 for tgt of around 1580 and 1640 and then 1750 OR conversely sell below 1500 and buy in the range 1440-1450 for the given higher tgts
KOTAK MAH BANK: cmp433 BEST buy in the range of 380-400 with XL 380 for tgt of around 500 and 600 and then 670 OR conversely sell below 450 WITH XL at 455 and buy in around 400 for the given higher tgts
ICICI BANK: cmp520 BEST buy in the range of 510-515 with XL 510 for tgt of around 570 and 600 and then 670 OR conversely sell below 510 WITH XL at 520 and buy in around 470-480 for the given higher tgts
RELIANCE: cmp 1900 buy in the breakout range of 1940 only for tgt of around 2040
RCOMM: cmp 230 sell at the break down of 225 for lower tgt1 of 220- and if tgt1 range is broken then tgt2 210-205…….. after achieving our tgts stock is in corrective mode and when ever correction ends the next higher tgt1 255-260 tgt2 300-310 will come into picture.Best buy in the range of tgt1 and tgt2 i.e. 210-220 for the given higher tgts.
Stock with wave discussion for the week:
RCOMM: the stock made a high of 845 on 10/01/2008 and was in continuous downtrend waves 1-5 since then. It has completed its downtrend as its last downwave5th ending at 131 on 12.03.2009. From there it is charting its new uptrend. The labelling of waves as on today is as follows which is liable to change with passage of time:
Wave1 131 - 188 = 57 pts
Wave2 188 - 165 = 23 pts
Wave3i 165 - 240 =75 pts
Wave3ii 240 - touched 205 as abc( max downside 190-200 range)
Wave 3iii to 3v will have tgt1 255-260( is achieved now) tgt2 310-315 tgt3 370
Wave 4 pending
Wave5 pending
Invalidation point as on today is raised to 200 from 180
NOTE: though we have booked profit the tgts given remain valid
Beside that you can follow the special offer stocks for their tgts
SPECIAL OFFER no.2
BUY IN DIPS STOCKS WITH THEIR HIGHER TGTS AND XL
1.UNITECH : Buying range 45-49 xl 43 tgt1 64
2.TATACHEM : Buying range 172-180 XL 169 tgt1 220
3.JP
4. SAIL : Buying range 118-130 XL 115 tgt1 145
5.IDBI :
6ICICIBANK: Buying range 470-500 XL 460 tgt1 660
Third week of May 2009 will start from 11th May 2009 and will end on 15th May 2009.
Planetary position during Third week of May 2009
Sun will transit from Aries and Taurus.
Retrograde Mercury will transit from Taurus.
Venus will transit from Pisces.
Moon will transit from Scorpio, Sagittarius and Capricorn.
Mars will transit from Pisces.
Rahu will transit from Capricorn.
Jupiter will transit from Aquarius.
Retrograde Saturn will transit in Leo.
Ketu will transit in Cancer.
Prediction's Came True - http://stockmarketprediction.blogspot.com/2009/02/bulls-will-back-bse-sensex-will-touch.html
SHARE YOUR THOUGHTS! LEAVE A COMMENTS
Stock Market Prediction for 11th May 2009
Transiting Moon will be passing through Scorpio Zodiac sign. Transiting Moon will be in applying aspect with Transiting Mars, indicates Market may open nearer to previous closing. Market will be volatile up to 11.00 so be careful. Market may steady or up side between 11.20 and 11.55. Dear Investor/Trader make position (BUY) on 11th May 2009 Intraday low and SELL it on 12th May 2009, you will get some profit.
SELL - DLF, TATASTEEL, HPCL, BPCL, ADLAB
Stock Market Prediction for 12th May 2009
Transiting Moon will be passing through Sagittarius Zodiac sign. Transiting Moon will be in separating aspect with Transiting Jupiter, indicates Market may steady or up side between 10.00 and 10.25. Some selling pressure will come in Indian Stock Market after 12.12. Market will be volatile up so be careful.
Stock Market Prediction for 13th May 2009
Transiting Moon will be passing through Sagittarius Zodiac sign. Transiting Moon will be in applying aspect with Transiting Venus, indicates Market may steady or up side up to 10.45. Market may go up between 12.55 to 13.57, Buying in Heavy weight will support market. Market will be volatile after 14.00, so be careful.
Stock Market Prediction for 14th May 2009
Transiting Moon will be passing through Sagittarius Zodiac sign. Transiting Moon will be in applying aspect with Transiting Sun, indicates Market may steady or up side up to 12.20. Market will be volatile between 14.00 and 14.35, so be careful. Market may recover from Intra day Low after 14.45.
Stock Market Prediction for 15th May 2009
Transiting Moon will be passing through Capricorn Zodiac sign. Transiting Moon will be in applying aspect with Transiting Rahu, indicates Market will be volatile. Market may steady or up side between 12.00 and 12.50. Some selling pressure will come in Indian Stock Market after 14.12, so be careful.
Technical Analysis
If Nifty will close above 3737 for two days, it may go up to 3903. Resistance Level for Nifty will be 3662, 3692 and 3717. Support Level for Nifty will be 3515, 3484 and 3435.
Resistance Level for Sensex will be 12085, 12180 and 12262. Support Level for Sensex will be 11635, 11427 and 11191.
Sensex Technical View :
Nifty weekly chart seen breakout and close above major downward sloping line next resistances 3793 and strong support 3240-3173
Last week sensex gained 4.15% and nifty4.22% respectively sensex close with 9th consecutive weekly gain. As last week mention about breakout or breakdown from range and mention target 3705zone on upside and we had kiss 3700 zone, moving further we can see multiple resistances around 3800-3850 zone. As per daily chart we are near upper band of trading range from breakout pattern as shown in chart.For coming weeks will post the formation of government with election results we can see increase in volatility on the both side, so one can wait and watch and move cautious . For this week level to watch 3535-3500 gap zone for bounces and trading above 3720 it will test 3790-3820 zones .On the lower side closing below 3520 we can see more sell off towards 3420-3300 zones.
The Indian market opened on higher note saw sharp correction from higher levels and close in red zones .However market witnessed heavy volatility in the last two trading session and close in red zones.For coming session if nifty trade below 3600 levels it can test 3567-3547 zone .On the up side trading above 3665 it will test 3693-3715 zones .
SELL AMBUJA BELOW 75.30 TGT 70>68 STOPLOSS 78.50
BUY NEYVELILIGNITE ABOVE 104.40 TGT 110>113.50STOPLOSS 100.50
---bse chart from caldaro.---here 5 day rsi shows negative divergence.
---macd is also ready to give sell signal.
---but rsi is still at trendline support.
---NIFTY CHART FROM I-CHART.--Nifty May future discount converted to premium of 2 points so cost of carry increased.
--Nifty open interest decreased by 1.3 lacs suggests short covering. (Total OI now at 3.89 cr)
--3600 puts had open interest of 32 lacs and 3800 calls had open interest of 36 lacs, so 3600 and 3800 will be important levels to watch for.
--India VIX closed at 57.02, increased by 4% suggests instability and uncertainity.
--US markets closed in green.
--Positional strategy for nifty—
---IDEAL STRATEGY—LONG.
---CLOSING STOPLOSS FOR LONG—3603.
---CLOSING STOPLOSS FOR SHORT—3707.
There is a distinct possibility of a lower Swing Low. Watch out the 3557 level, if broken then a possibilty of 3396 can not be completely ruled out.
Well, Nifty sold off quite heavily on Friday’s session and closed near low at 3620. Even if it sold off more than 100 points but managed to climb up above support line 3605. Tomorrow it is expected to trade higher. If nifty opens just above previous close ( 3620) and goes higher ( by making higher highs and higher lows in 5/15 minutes time frame) then BUY above 3635 with stop loss at 3615 for target at 3670/3685. However if nifty could not reach high at 3675 and fails to sustain than SELL at 3670 with stop loss at 3690 for target at 3630. In this current market situation as long as Nifty has not broken high (3755) more sideways swings ( in other words, consolidation) can be seen due to sort time profit taking activities both by bulls and bears.NIFTY (3620.7)
Resistance : 3665 / 3710 / 3760 / 3795 / 3820
Support : 3590 / 3560 / 3520
SENSEX : Book Profits Around SENSEX at 12400/650,Buy Near SENSEX at 11800/550 (SENSEX Wide Range : 11700-12400)
Resistance : 12115 / 12355 / 12570 / 12855
Support : 11700 / 11600 / 11525 / 11300
NIFTY FUT (3623)
Resistance : 3655 / 3695 / 3725 / 3750 / 3775
Support : 3605 / 3580 / 3565 / 3540 / 3510
MKT COMMENTS
NIFTY FUT OI flat with 19% increasing volumes indicating unwinding of long positions and forming of fresh short positions too.
We expect NIFTY FUT to trade volatile, long positions advisable only above NIFTY SPOT 3720-30 levels.
On Monday,Opening is Flat to Positive,
Buy Above 3655/65,Sl Below 3635,Tgt 3695/3720/3740/3785++
Sell Below 3630/20,Sl Above 3650,Tgt 3600/3560/3535/3510+
BANK NIFTY
Buy Above 5465/75,Sl Below 5425,Tgt 5500/5545/5600/5650/5705
Sell Below 5415/05,Sl Above 5455,Tgt 5375/5335/5295/5265/5200
BUY
RELIANCE Above 1940,Tgt 2050
CAIRN Above 220,Tgt 230/35
NTPC Above 195,Tgt 200/05/10,Sl 185
HDIL Above 180,Tgt 185/90/95
WELSPUNGUJ Above 115
NEVYELI Above 103
HUL Above 230,Tgt 240/50/60/70+,Sl 220
RELINFRA,Tgt 870/75+
BANKINDIA Above 237,Tgt 250/60/65,Sl 225
CIPLA Above 230,Tgt 245/55/60,Sl 220
RPL Above 115,Tgt 120/25/30
GAIL Above 260,Tgt 265/70/75+,Sl 255
UNIONBANK Above 160,Tgt 165/70/75,Sl 155
ASIANPAINTS Above 910,Tgt 920/30/40/50+,Sl 895
SELL
VSNL Below 555,Tgt 550/40/30/20,Sl 565
SCI Below 95,Tgt 90/85/80,Sl 100
SAIL Below 125,Tgt 120/15/10,Sl 130
BHARTI Below 755
CENTURYTEXT Below 255,Tgt 250/48/45,Sl 258
ABB Below 465,Tgt 455/50+,Sl 470
WIPRO Below 355,Tgt 345/40++,Sl 360
SBIN (1325),Sl Above 1335,Tgt 1305/1290+
Buy TECHM Fut 350/55,Sl 345,Tgt 365/70/75/80/85 (Lot Size : 1200)
GOLD
Buy Above 14560,Sl Below 14500,Tgt 14640/950
Sell Below 14475,Sl Above 14525,Tgt 14425/375/200
COPPER
Buy Above 236,Sl Below 232,Tgt 238/42/48/52/56
Sell Below 232,Sl Above 236,Tgt 226/20/16/12
CRUDE
Buy Above 2900,Tgt 2950/3000/50,Sl 2830
Sell Below 2820,Tgt 2785/55/25/2630,Sl 2860
NATURAL GAS
Buy Above 212,Sl 209,Tgt 215/18/23/26
Sell Below 209,Sl 212,Tgt 206/03/01+
After Making a non-stop rally towards upside, now market looking for a consolidation before another up move… In between Elections in India, Global Markets, Commodity prices along with Industrial & Earnings data are going to play major roll in coming days…
->The market has recovered by 50% and the momentum has caught many by surprise as they now are feeling that they have missed the bus and should have invested at 9000 levels. Again if you browse our previous posts we have been recommending Index funds for a while and have made phenomenal returns. But the recovery has been fierce which is not good for the markets.
->As said above it is now safe and wise to stay in majority cash until the results of the election are announced. The market would move up if either of L.K.Advani or the existing PM becomes PM yet again. After a 50% rally it is safer to book profits. Nifty charts were suggesting that the resistance would come at 3800 – 3820 and it has reacted after hitting 3700+ today. Investors generally do not like those who recommend to book profits in an upmove. But if something really funny happen’s like Congress supporting Mayawati as PM happens we can get good opportunities to buy at lower levels. The open vowing of NDA allies by Rahul Gandhi yesterday send a message that Congress is desperate to remain at centre and can act funny if necessary.
->Expect huge volatility and use upmoves to sell and book profits. It is not wrong if we buy 10 – 15% higher but in more conducive scenario.
NIFTY (3621) : Keep On Booking Profits On Every Rise (DO NOT SHORT)
Resistance : 3655 / 3730 / 3760 / 3820 / 3845
Support : 3905 / 3580 / 3540 / 3490 / 3445 / 3365
SENSEX
Resistance : 12025 / 12135 / 12295 / 12475
Support : 11825 / 11650 / 11520 / 11325
WEEKLY MARKET OUTLOOK
NIFTY FUTURE
Trend : Volatile
Total OI of NIFTY FUT up 6.47% NIFTY FUT closed up 4.29% last week. OI of N= IFTY 3500 CE is down 14% prices up 50% showing profit booking. OI of NIFTY = 3600 CE is up 53% prices up 59%, NIFTY 3700 CE is up 152% prices up 70% and= OI of NIFTY 3800 CE is up 108% prices up 80% showing call writing at highe= r levels. OI of NIFTY 3500 PE is up 246% prices down 32% and NIFTY 3600 PE = is up 2160% prices down 30% last week showing put buying at lower levels.
We expect NIFTY SPOT to trade volatile next week.
On up side, NIFTY SPOT Resistance at 3700- 3710, 3730-40 levels. Strong Resistance at 3780-90 levels.
On down side, NIFTY SPOT Support at 3560-70, 3480-90.Strong Support at 3430-40 levels.
SECTOR WATCH
SECTOR : POWER
Trend : Bullish
Total OI of NEYVELILIG FUT is up 43% prices up 17%, POWERGRID FUT up 12% prices up 6% and PTC FUT up 143% prices up 4% last week showing long positions build up.
We expect positive move in coming week.
WEEKLY NIFTY FUTURE OBSERVATION
Observation:-
->Total OI of NIFTY FUT up 6.47%, NIFTY FUT closed up 4.29% last week.
->Out of NIFTY 50 stocks FUTS, 38 Stock FUTS closed positive, 5 Stock FUTs = closed negative and 7 Stock FUTS closed flat last week.
->OI of NIFTY 3500 CE is down 14% prices up 50% showing profit booking. OI= of NIFTY 3600 CE is up 53% prices up 59%, NIFTY 3700 CE is up 152% prices = up 70% and NIFTY 3800 CE is up 108% prices up 80% last week showing call wr= iting at higher levels. OI of NIFTY 3800 CE is 36.16 LK, highest OI in CALLS.
->OI of NIFTY 3500 PE is up 246% prices down 32% and NIFTY 3600 PE is up 160% prices down 30%. Last week showing put buying at lower levels.
OI of NIFTY 3400 PE is up 43% prices down 35% showing not only short covering plus buying too. OI of NIFTY 3400 PE is 44.28 LK, highest OI in PUTs.
->Total OI of MAY series CALLs is up by 88.15 LK to 2.45 CR. MAY series PUTs is up by 1.00 CR to 3.11 CR last week. MAY series PCR (OI) at 1.26.
Momentum Stocks :
WWIL / RNRL / JPASS / GMRINFRA / PRAJIND / ALOKIND / ASHOKLEYLAND / ORCHIDCHEM / INDIAINFO / SAIL / ISPATIND / HDIL / BAJAJHIND / TVSMOTORS / SUZLON / APTECH
Conclusion :-
I expect NIFTY SPOT to trade very volatile next week. On up side, NIFTY SPOT Resistance at 3700-3710, 3730-40 levels. High possibility NIFTY SPOT will not sustain above 3700 levels. On down side, NIFTY SPOT support 3560-70 levels. Below 3550 levels, panic unwinding possible for TGT 3480-90, 3430-40 levels.
BUY NAG. CONST. ABOVE 84 WITH STRICT STOPLOSS OF 78 FOR THE TARGET OF 95-112.
BUY JET AIRWAYS ABOVE 232 WITH STRICT STOPLOSS OF 220 FOR THE TARGET OF 300-330.
HCC CAN BE BOUGHT WITH THE SL OF 58 FOR THE TARGET OF 82.
BUY ESSAR SHIPPING ABOVE 54 WITH STRICT STOPLOSS OF 48 FOR THE TARGET OF 67.
BUY BOMBAY DEYING ABOVE 208 WITH STRICT STOPLOSS OF 200 FOR THE TARGET OF 217 ONCE PAST 217 CAN ATTEMPT 236.
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